News

  Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties, recorded a net profit of AED 1.874 billion during 2016, an increase of 13 per cent over the full-year 2015 net profit of AED 1.656 billion. FY 2016 revenue recorded a growth of 8 per cent to AED 3.227 billion ...

  Abu Dhabi / WAM The Board of Directors of the UAE Central Bank has reviewed the bank’s Q4 Report for 2016, which covered various banking related issues. The first meeting in 2017, held under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board, reviewed a report from the Monetary and Reserve Management Department, which included systemic prudential ratios ...

  Abu Dhabi / WAM The Masdar Institute of Science and Technology, the independent, research-driven graduate-level university focused on advanced energy and sustainable technologies, announced that its research team, one of the inaugural recipients of the US$5 million grant from the UAE Research Program for Rain Enhancement Science last year, has filed a provisional patent with the United States Patent and ...

  Bloomberg Nintendo Co. reported quarterly profit above projections and increased its outlook for the year, but anemic sales highlighted how important it is for the company’s new Switch console to succeed. A weaker yen and brisk holiday sales helped the Kyoto-based game maker deliver profit of 64.7 billion yen ($569 million) for the period ending in December, exceeding analysts’ ...

  Bloomberg Komatsu Ltd., the world’s No. 2 supplier of construction equipment, said industry-wide demand from miners fell 13 percent in the last quarter, signaling that the rebound in commodities prices is yet to feed through into better sales of the giant trucks and excavators used in extracting minerals. The Tokyo-based company, which also supplies builders and produces industrial machinery, ...

Bloomberg New photographs show what may be melted nuclear fuel sitting under one of Japan’s wrecked Fukushima reactors, a potential milestone in the search and retrieval of the fuel almost six years after it was lost in one of the worst atomic disasters in history. Tokyo Electric Power Co. Holdings Inc., Japan’s biggest utility, released images showing a grate under ...

  Bloomberg The risk of record borrowings is turning Indian bond investors skeptical going into the government’s budget on Wednesday, just as foreign funds exit the market at the fastest pace since 2013. Primary dealers have rescued two of the last four sovereign-debt auctions, as Prime Minister Narendra Modi’s administration is expected to announce an unprecedented 6.25 trillion rupees ($92 ...

  Bloomberg China’s rapid nuclear expansion will result in it overtaking the US as the nation with the largest atomic power capacity by 2026, according to BMI Research. The world’s second biggest economy will almost triple its nuclear capacity to nearly 100 gigawatts by 2026, making it the biggest market globally, analysts said in a note dated Jan. 27. The ...

  Bloomberg US President Donald Trump’s proposed tariff on Mexican goods has the country’s oil industry considering just how much it needs the American market. A 20 percent border tax to build a wall between Mexico and the US means Canadian oil-sands competitors will enjoy a leg up and US motorists will suffer higher prices at the pump due to ...

  Bloomberg Teva Pharmaceutical Industries Ltd. plunged to the lowest in more than a decade following a US court ruling that invali-dated four patents on its best-selling multiple sclerosis drug Copaxone. The ruling may open the door to generic competition for a drug that generates a fifth of Teva’s $20 billion in annual sales. The introduction of two Copaxone copycats ...