News

DUBAI / WAM Dubai Investments, leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED491 million for the six month period ended on June 30, an increase of AED11 million compared to AED480 million for the same period last year. Company’s total assets grew to AED19.04 billion compared to AED17.0 billion as on December, ...

Bloomberg Majid Al Futtaim Holding LLC, the Dubai-based conglomerate which operates Carrefour SA stores in the Middle East, posted a 13 percent increase in revenue during the first half, as the company’s regional expansion helped weather the impact of value-added taxation at home. Sales climbed to AED17.8 billion ($4.85 billion) from a year earlier despite “adverse market conditions,” Chief Executive ...

Bloomberg Dubai’s main equity gauge posted its biggest monthly gain in a year, powered by a revival in the banking sector as better-than-estimated earnings help UAE stocks escape this year’s doldrums. The DFM General Index has surged 4.8 percent in July. In Abu Dhabi, the ADX General Index posted its largest monthly gain in more than two years, advancing 6.6 ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) and a delegation from Belarus examined areas of economic cooperation between Sharjah and Belarus, in addition to reviewing ways to enhance economic relations and mutual investment opportunities between the various economic sectors of both sides. Mohamed Ahmed Amin, Acting Director-General of the SCCI, and Igor Bondarev, Head of the ...

ABU DHABI / WAM In yet another indicator of the growth in economic sentiments in the country, the number of automatic teller machines (ATM), operated by banks in the UAE hit a total of 5261 by end of June, an increase of 42 facilities from 5219 in the same month in 2017, according to CBUAE statistics. The continued rise in ...

ADEN / WAM The UAE grant to support the ‘Yemen: Humanitarian Response Plan 2018’ of the UN has benefitted over 20,000 Yemeni families, the United Nations High Commissioner for Refugees, UNHCR, has said. The remarks came during a meeting between Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, Ayman Gharaibeh, UNHCR’s Representative to Yemen, and Jacqueline Parlevliet, Head of ...

Abu Dhabi / Emirates Business Al Hilal Bank has announced a new partnership with the Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, aimed at promoting Islamic Finance in Abu Dhabi and across the UAE. The Memorandum of Understanding (MoU) was signed by Alex Coelho, Chief Executive Officer at Al Hilal Bank, and Richard Teng, Chief ...

Dubai / Emirates Business Amlak Finance PJSC, a leading specialised Islamic real estate financier in the Middle East, announced its financial results for the first half ending 30 June 2018. Amlak reported net profit attributable to equity holders of AED10.4 million in H1 2018, an increase of 2% compared to AED 10.2 million for the same period last year. The ...

HODEIDAH / WAM Around 42,000 Yemenis, including 30,000 children and 6,000 women, have benefitted from the food aid distributed by the Emirates Red Crescent (ERC) to the residents of Al Tuhayta District and the liberated areas of Zabid and neighbouring villages in Hodeidah Governorate, as part of the ERC’s humanitarian efforts to rescue citizens in the liberated areas of Yemen’s ...

DUBAI / WAM The Emirates Post Group (EPG) has witnessed a high demand for the latest stamp celebrating 34-year of diplomatic relations between the UAE and China issued to mark recent historic visit of Chinese President Xi Jinping. One such request was received by 8-year-young philatelist Asmaa Humaid Issa Alsuwaidi who contacted EPG through its social media channels. Asmaa, along ...