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Abu Dhabi / WAM First Abu Dhabi Bank (FAB), reported on Sunday a net profit of AED3 billion for the first quarter of 2018, up two percent year-on-year and six percent quarter-on-quarter. Commenting on the bank’s performance, Abdulhamid Saeed, Group Chief Executive Officer of FAB, said, “I am pleased to announce that we started 2018 on a positive note with ...

ABU DHABI / WAM The Khalifa bin Zayed Al Nahyan Foundation has launched a Ramdan Iftar project, as part of its seasonal humanitarian projects and programmes for the Holy Month of Ramadan, that aim to benefit the largest number of people under the framework of social solidarity. During a press conference, which was held on Sunday and attended by the ...

Dubai / WAM Emirates National Oil Company (ENOC), has been appointed Expo 2020 Dubai’s Official Integrated Energy Partner with plans to set up a ‘service station of the future’ at the next World Expo. In line with its commitment to support the socio-economic growth of Dubai and the UAE, ENOC Group believes that Expo 2020, which has a core theme ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA) signed a 15-year agreement with LD Ports and Logistics on Sunday, a subsidiary of Louis Dreyfus Armateurs, for the trans-shipment of bauxite in the Republic of Guinea. Also, Louis Dreyfus Armateurs and Abu Dhabi Ports separately signed an agreement to form a joint venture company to work together to carry out the ...

Bloomberg Baidu Inc. has raised more than $1.9 billion for its newly spun-off financial services division from TPG, Carlyle Group and other investors, creating one of China’s best-funded fintech companies. Taikang Group and other backers also joined the funding round for the newly formed company, which will be called “Du Xiaoman Financial” and use artificial intelligence to provide short-term loans ...

Bloomberg Less than a year after HNA Group Co. paid $2.21 billion for 245 Park Ave. — a purchase that raised eyebrows for its near-record price — the troubled Chinese conglomerate is in talks to sell the Manhattan office tower. SL Green Realty Corp., a lender to 245 Park, is in discussions with HNA to purchase the building, according to ...

Bloomberg Just a month after President Trump upended the global order with threats of tariffs against allies and adversaries alike, his ambassador to the World Trade Organization took aim at both China, a main focus of Washington’s ire, and the global trade body itself. China’s “trade-distorting policies” represent a “threat to the international trading system,” Deputy US Trade Representative Dennis ...

Bloomberg Noble Group Ltd. said it plans to set the date for a special general meeting shortly that will decide the commodity trader’s controversial restructuring after the Singapore High Court blocked it from holding an annual meeting at the behest of dissident shareholder Goldilocks Investment Co. The court, however, hasn’t restrained Noble from holding future special general meetings, the company ...

Bloomberg The Great Barrier Reef is being $379 million boost by Australia in the battle to save the world’s largest living structure as it faces mounting challenges such as climate change, agricultural runoff and a coraleating starfish. “Like reefs all over the world, the Great Barrier Reef is under pressure,” Prime Minister Malcolm Turnbull said in a statement on Sunday, ...

Bloomberg Gold jewellers in India are expecting a cool reception in the short term to any plans to publicly trade shares in the wake of an alleged $2 billion fraud by jewellers Nirav Modi and Mehul Choksi. Joyalukkas Group has put an initial share sale of its jewellery business on hold and will revisit the proposal after national elections next ...