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Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB) said its net profit for Q1 of 2021 surged by 125 percent to AED608 million compared to AED 270 million in Q1 of 2020, and up 26 percent against Q4 of 2020. The growth in net profits reflects the strong underlying performance across the business, the bank said in a statement. ...

NIAMEY / WAM The United Arab Emirates on Monday sent a plane carrying 52 metric tons of food supplies to the Republic of Niger as part of its initiatives during the Holy Month of Ramadan. Amer Al Menhali, Charge d’Affaires of the UAE Embassy in Chad, said, “The UAE considers cooperation with the international community to be crucial, especially in ...

ABU DHABI / WAM Technology Innovation Institute (TII) on Monday announced that its Directed Energy Research Centre (DERC) has unveiled its Electromagnetic Compatibility (EMC) laboratories in Abu Dhabi, housed in a first of its kind facility in the Arab world. The facility is composed of three laboratories — an EMC semi-anechoic chamber, a pulsed power laboratory, and a low-noise emanation ...

Dubai / WAM Global Village, the UAE and wider region’s leading multicultural family destination for culture, shopping, and entertainment, concluded its Silver Jubilee Season in spectacular fashion, etching its name in the history books to the delight of all in attendance. Having set out in October with the aim of breaking 25 Guinness World Records to honour the milestone anniversary, ...

Bloomberg French President Emmanuel Macron will reassess the country’s recovery plan in September, possibly adding to the 100 billion euros ($120 billion) of stimulus his government is already injecting into the economy. Such a boost would arrive just six months before presidential elections, where management of the health crisis and the growth rebound are set to be key battlegrounds. Before ...

Bloomberg Verizon Communications Inc said it’s selling its media division to Apollo Global Management Inc. for $5 billion, a move that will jettison once-dominant online brands like AOL and Yahoo. The unit will be known as Yahoo after the close of the transaction, which is expected in the second half of this year, Verizon said in a statement Monday. Guru ...

Bloomberg Switzerland’s economy is bouncing back from the pandemic-induced slump, with manufacturing sector activity at an all-time high and companies gearing up to take on more staff. The purchasing managers’ index for industry hit its highest since at least 1995 in April, with a gauge for the service sector also signaling a pickup. Monday’s data come on the back of ...

Bloomberg Denmark wants to spend a majority of the European Union’s fund for post-pandemic recovery on financing its efforts to achieve an ambitious climate target. The Nordic country has earmarked 60% of its share of the EU crisis fund on green initiatives, clearly above the 37% required by the conditions of the fund. Denmark expects an allocation of 11.6 billion ...

Bloomberg Apple Inc’s App Store had operating margins of almost 78% in fiscal year 2019, according to testimony from an Epic Games Inc. expert witness based on documents obtained from the iPhone maker. The figure comes from Ned Barnes, a financial and economics researcher, who said he obtained documents “prepared by Apple’s Corporate Financial Planning and Analysis group and produced ...

Bloomberg Europe’s economy is finally turning the corner from its worst crisis in the postwar period after a devastating double-dip recession. Grim confirmation of another slump in the first quarter still failed to dim prospects for the region that are as bright as they have been since the pandemic struck, with European Union-funded multi-year stimulus plans also finally taking form ...