News

Abu Dhabi / WAM Abu Dhabi Commercial Bank PJSC released its Q1-2019 financial results, reporting strong operating performance underpinned by robust growth in gross interest and Islamic financing income and non-interest income. In a statement, the bank said its results are for the standalone ADCB entity for the first quarter of 2019, prior to the merger with Union National Bank ...

Sharjah / WAM Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, LCC, announced on Tuesday the launch of a direct flight from Sharjah to Tunis, Tunisia’s capital city starting July 4. The new flight will operate three times a week; on Tuesdays, Thursdays and Saturdays. The flights depart Sharjah International Airport at 15:30 hours local ...

Bloomberg In a war for the control of India’s billion-plus mobile-services market, tycoon Sunil Mittal seems to be floundering in the face of a juggernaut unleashed by Mukesh Ambani. For at least a fourth quarter in a row, Mittal’s Bharti Airtel Ltd shored up its profits with one-time gains, masking headwinds posed by upstart Reliance Jio Infocomm Ltd. Jio’s roll-out, ...

Bloomberg Singapore’s mobile phone carriers are being asked to take a step towards introducing fifth-generation (5G) wireless services as early as next year as the government plans to allocate spectrum for at least two networks. The city-state’s telecom regulator will request proposals from the companies, which include Singapore Telecommunications Ltd and StarHub Ltd, later this year, the Infocomm Media Development ...

Bloomberg Gold imports by India surged in April amid falling prices and higher demand ahead of the second-biggest gold-buying day in the Hindu calendar. Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Shipments were higher ...

Bloomberg Luckin Coffee Inc, the ambitious startup that is challenging Starbucks Corp in the race to dominate China’s growing coffee culture, is seeking to raise as much as $510 million in its US initial public offering. The Xiamen-based company said in a filing that it’s planning to sell 30 million American depositary shares for $15 to $17 each. At that ...

Bloomberg Thyssenkrupp AG sees room for reaching an agreement with the European Commission on a planned joint venture with Tata Steel Ltd as “further discussion” with Competition Commissioner Margrethe Vestager is set for next week. “The EU commission has taken the adjustments to the remedies offered by Thyssenkrupp and Tata Steel as an opportunity to conduct another market test,” Peter ...

Bloomberg Indonesian President Joko Widodo arrived in Borneo island to survey possible locations for a new capital, fast-tracking a plan to move the administrative headquarters out of over-crowded and congested Jakarta. Widodo, known as Jokowi, arrived at Balikpapan city in East Kalimantan and visited Bukit Soeharto, one of the locations being considered for the capital, his office said in a ...

Bloomberg The Canadian government is likely to proceed with expansion of the Trans Mountain oil pipeline when it announces its decision next month, officials familiar with the matter say. The government has made no secret about its interest in finding a way to expand the conduit, but has tiptoed around the matter to avoid opening any decision up to legal ...

Bloomberg Vodafone Group Plc is seeking to address the European Union concerns over its 18.4 billion-euro ($20.6 billion) bid for Liberty Global Plc’s cable assets by offering rival Telefonica SA wholesale access to its entire German cable network. The Spanish company’s local unit Telefonica Deutschland would be able to use the combined Vodafone and Unitymedia high-speed network across Germany under ...