News

Bloomberg Coinbase Global Inc shares were little changed in extended trading after the largest US cryptocurrency exchange noted that customer usage slowed at the start of the current quarter. The warning came while the company said second-quarter profit jumped to $1.6 billion from $32 million a year earlier. Revenue climbed to $2 billion from $178 million. Analysts polled by Bloomberg ...

Bloomberg Rivian Automotive Inc, the electric-vehicle startup backed by Amazon.com Inc, is in talks to invest at least $5 billion to build a factory near Fort Worth, Texas, according to a document obtained by Bloomberg News. The factory — codenamed “Project Tera” according to the document — will be able to produce 200,000 vehicles a year, and will create at ...

ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), is providing urgent aid to support civilians affected by wildfires in Greece. The UAE also assisted the efforts aimed at suppressing the fires, by deploying a helicopter to contain the wildfires on the borders of the Greek capital, Athens. The aid is upon the directives ...

ABU DHABI / WAM Adnoc Distribution on Tuesday reported that its first-half 2021 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) stood at AED1.53 billion, with net profit of AED1.15 billion. For the second quarter, EBITDA was AED712 million with net profit of AED521 million, according to a press release on Tuesday. The strong results were driven by higher fuel ...

ABU DHABI / WAM As part of its efforts to support sisterly and friendly countries, the UAE dispatched an aircraft to the Comoros loaded with 300,000 Covid-19 vaccine doses and other medical supplies, including 600,000 injection needles, to facilitate the local vaccination process. Saeed Mohammed Al Maqbali, UAE Ambassador to Comoros, said dispatching the medical supplies aimed at addressing the ...

Abu Dhabi / Emirates Business Etihad Airways has announced operating and financial results for the first half of 2021, showing a progressive recovery across its business despite a slower than expected return to global air travel. The airline carried one million passengers in H1 2021, with an average seat load factor of 24.9%. This represents an average 10% month-on-month growth ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), in partnership with Fertiglobe, has agreed to the sale of blue ammonia to Idemitsu in Japan, for using it in its refining and petrochemicals operations. The sale builds upon recently announced joint efforts to enhance industrial cooperation between the UAE and Japan and support the development of new UAE-Japan ...

DUBAI / WAM Emaar Malls recorded an increase in net profit by 80 per cent to AED 622 million ($ 169 million) during the first six months (January to June) of 2021, compared to a net profit of AED 345 million ($ 4 million), during the same period in 2020. Revenue for H1 2021 amounted to AED 2.048 billion, an ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD), since its establishment in 1971, has financed thousands of development projects that significantly impacted millions of lives in 97 developing countries around the world. The projects have contributed to advancing economic growth, improving access to healthcare and education, and building modern infrastructure, including road, railway and water networks as well ...

SHARJAH / WAM HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of Sharjah Executive Council (SEC), on Tuesday, chaired the weekly meeting of SEC, in the presence of HH Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC, and HH Sheikh Sultan bin ...