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Dubai / Emirates Business Noor Bank, a leading Shari’ah-compliant bank in the UAE, on Wednesday announced its year-end 2018 financial results. The bank delivered a strong performance with a net profit of AED 676 million prior to adjustments for property revaluations, amounting to a 74% improvement in underlying performance. Net profit after adjustments was AED601 million, representing a growth of ...

Abu Dhabi / Emirates Business Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the sixth edition of the World Ocean Summit will convene in Abu Dhabi next month. The summit will provide a forum for a global gathering of over 500 ...

Dubai / WAM Keïta Aminata Maïga, First Lady of Mali, said that the UAE has become a model of providing humanitarian assistance to all countries, with tolerance at the core of its altruistic work for 2019. She made the statement while visiting Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment. Saleh Zaher, Director of the Establishment, and Dr. Abdulaziz ...

Abu Dhabi / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has signed a Memorandum of Understanding (MoU) with ZonesCorp to establish railway and logistics facilities within the Industrial City of Abu Dhabi (ICAD). Etihad Rail’s logistic facility will complement the Higher Corporation’s Abu Dhabi Logistics City Development Project, covering an area of approximately 6 million ...

DUBAI / WAM The number of branches of foreign companies operating in Dubai has increased to 1,985 while the number of branches of GCC companies is 833, according to a report by the Business Registration and Licensing (BRL), sector in the emirate’s Department of Economic Development (DED). “These figures reflect the attractiveness of the emirate globally as well as regionally, ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), sent relief convoys to a number of Shabwa districts, Yemen, including 1,400 food baskets benefiting more than 8,120 low-income citizens as part of its humanitarian programme to help people who suffer from a difficult humanitarian situation. The distribution of food baskets targeted desert areas of Nisab and Usaylan districts in Shabwa, ...

Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding (MoU), with the Central Bank of the UAE which will enable the fund to employ the direct debit system of the Central Bank and receive payment from its’ entrepreneurs directly from their accounts in any bank which operates within the UAE. The agreement was signed by ...

Bloomberg Eskom Holdings SOC Ltd. said will cut 3,000 megawatts of power from the South African grid from 8 a.m. until 11 p.m on Wednesday, marking the fourth consecutive day of such measures. The state-owned power utility, which supplies more than 90 percent of the country’s electricity, is implementing the rolling blackouts due to a shortage of generating capacity, Eskom ...

Bloomberg The Indian government’s $8.7 billion purchase of French warplanes was cheaper than a bid negotiated under the previous government, the country’s auditor said, potentially weakening an opposition campaign alleging corruption ahead of federal polls. Prime Minister Narendra Modi bought 36 Rafale fighters in 2015 from Dassault Aviation SA at 2.86 percent lower than the price negotiated by the former ...

Bloomberg Carlos Ghosn replaced his legal team in Tokyo as he prepares for a trial on the financial-misconduct allegations that have shocked the global car industry and kept the former Nissan Motor Co. chairman in jail for almost three months. Ghosn said on Wednesday he hired Junichiro Hironaka to be his new lawyer and help him with the “trial phase” ...