News

FUJAIRAH / WAM The National Bank of Fujairah (NBF), held its Annual General Assembly Meeting on Monday, where shareholders approved the distribution of profits of 20 percent of paid-up capital. This took the form of cash dividends of 7.5 percent (AED 23.3 million) and bonus shares of 12.5 percent (AED205.6 million) of paid-up capital. The bank’s shareholders also approved the ...

Abu Dhabi / Emirates Business LuLu, the largest hypermarket chain in the region, launched its annual British food festival “Food is Great Britain: Truly British, Truly Delicious”. The week-long fest highlights a wide variety of food products imported from the UK, which is available at great discounts from March 18 to 26. The launch event was inaugurated by H.E Patrick ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Chairman of the Supreme National Committee for Tolerance, has launched the Zayed Tolerance Pledge campaign which aims to consolidate the values of tolerance and coexistence established by the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan. On his ...

Abu Dhabi / WAM The United Arab Emirates, represented by the Emirates Red Crescent (ERC), provided emergency humanitarian assistance worth AED10 million to Venezuelan refugees in Colombia, including 75,000 food parcels, medical supplies, and medicines benefiting 375,000 refugees. The move follows the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme ...

Dubai / WAM The UAE ranked 8th on the Positivity Index of Nations, an annual global report published by the Positive Economy Institute since 2013, which measures positive economy indicators in OECD member countries. The UAE, which is being included in the Index as a non-OECD country for the first time since its creation, outperformed 27 out of the 34 ...

Dubai / WAM The UAE’s bid to become one of the world’s top 10 food secure nations took a major step forward when Mariam Almheiri, Minister of State for Food Security, released an innovation-driven food security roadmap for the Middle East. Designed to further the objectives of the UAE’s National Food Security Strategy and to support regional improvement in this ...

Bloomberg Fidelity National Information Services Inc. agreed to acquire Worldpay Inc. for about $34 billion in cash and stock, the biggest deal ever in the booming international payments sector. FIS, based in Jacksonville, Florida, will also assume Worldpay’s debt, bringing the enterprise value of the deal to about $43 billion, the companies said on Monday. FIS’s current shareholders will own ...

Bloomberg Lyft Inc. is seeking to raise as much as $2.1 billion in its initial public offering, valuing the firm at up to $19.6 billion. The No. 2 US ride-hailing giant is offering 30.8 million shares at $62 to $68 each, it said in a regulatory filing on Monday. At the targeted range, the San Francisco-based company’s offering will be ...

Bloomberg Brazil’s sugar mills can make the switch into ethanol easier than ever before, making it harder to predict how much sweetener will come from the world’s biggest producer and exporter. Take the case of Sao Paulo-based Usina Batatais. Just two years ago, no matter how low sugar prices got, the company had no choice but send at least 45 ...

Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...