News

  DUABI / EMIRATES BUSINESS Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties (DFM: EMAAR), has reported first-half (January to June) 2016 net profit of AED 987 million (US$ 269 million), 17 percent higher than the net profit of AED 845 million (US$ 230 million) during the same period last year. Revenue for ...

  ABU DHABI / WAM Emirates Telecommunications Group Co. (Etisalat Group) reported a consolidated net profit (after federal royalty) of AED 2.3 billion for the second quarter of 2016, a 51 percent year-on-year rise. “The increase in profit is attributed to lower finance costs, incurring forex gain during the period as compared to forex loss in the same period last ...

  DUBAI / Reuters The quality of real estate loans in the United Arab Emirates has continued to improve despite sliding home prices, the International Monetary Fund said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago. The quality of loans to households – a ...

  DUBAI / WAM As part of its pioneering role in energy, environment and district cooling, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, will participate in the Water, Energy, Technology, and Environment Exhibition (WETEX 2016). To be organised by DEWA under the directives of Vice President and Prime Minister of and Ruler of Dubai, ...

  Dubai / Emirates Business Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, on Wednesday announced its 1st half results for the period ended June 30, 2016. Figures released on Wednesday show that Group net profit increased to AED 2,004 million, up 11% compared with AED ...

  Dubai / WAM National Bank of Abu Dhabi (NBAD) reported net profits of AED 1.376 billion for 2Q’16, up 8% sequentially (q-o-q), resulting from improvements in fee income, driven by continued momentum in Global Wholesale strategic flow products as well as Retail & Commercial outpacing the market. Expenses were essentially flat both sequentially and y-o-y as the Bank continued to ...

  Dubai / Emirates Business The Dubai Electricity and Water Authority (DEWA) received a certificate of commitment towards ISO standard ISO 27037:2012, which provides guidelines for how to deal with digital evidence. DEWA received the ISO certification based on criteria that includes procedures to ensure the safety and reliability of digital evidence by searching, identifying, and documenting the information, and ...

  Dubai / Emirates Business The Emirates Flight Training Academy, the new world class flight training facility developed by Emirates airline to respond to the industry’s growing need for pilots, has signed an agreement with Boeing under which both organisations will collaborate on a comprehensive training curriculum and software infrastructure to support Academy operations. Emirates Flight Training Academy, currently under ...

  Dubai / Emirates Business As part of the ongoing efforts to support its members’ expansion into the African market and to provide them informative business services, the Dubai Chamber of Commerce and Industry in cooperation with Coface Emirates Services organised a workshop on Kenya Country Overview, at the Chamber premises on Wednesday. Organised as part of the Business Beyond ...

  Abu Dhabi /Emirates Business ADNOC Distribution on Wednesday launched the Madinat Shakhbout service station in Abu Dhabi’s Shakhbout City. The launch is in line with the company’s sustained strategy of meeting the growing demand for its products and services to cater to the UAE’s rapid urbanisation and development. Located behind the Abu Dhabi Civil Defence building, the new service ...