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Dubai / emirates business Drake & Scull International PJSC (DSI) announced its preliminary un-audited financial results for the fiscal year 2015 ended December 31. DSI continued to execute its projects on schedule and reported revenue of AED 1.4 billion in Q4 2015 compared to AED 1.1 billion reported for the same period last year. DSI normalized its profitability following the ...

ABU DHABI / EMIRATES BUSINESS Abu Dhabi Islamic Bank (ADIB) has reported a net profit of AED 1,934 million for 2015, a 10.5 percent increase from a year earlier. The number of customers increased by over 100,000. This reflects the continued growth of ADIB’s main banking activities across all customer segments, particularly its ongoing penetration and targeting of the UAE’s ...

DUBAI / Emirates Business HE Sultan Ahmed bin Sulayem, Chairman of the Dubai Ports, Customs and Free Zone Corporation and Chairman of Dubai Maritime City Authority (DMCA), headed the inauguration ceremony of the Maersk Training centre headquartered in Dubai World Central. H.E. Bin Sulayem cut the ribbon for the official launch of the first-of-its-kind training centre in the Middle East, ...

Bloomberg North Korea continues to develop a mobile intercontinental ballistic missile that “would likely be capable of reaching much of the continental United States,” the Pentagon said in a new report to Congress on the secretive regime’s military capabilities. The KN-08 missile would have an estimated range of more than 3,400 miles (5,500 kilometers), and North Korea already has six ...

Seoul / AP North Korea channeled about 70 percent of the money it received for workers at the now-shuttered Kaesong industrial park into its weapons programs and to buy luxury goods for the impoverished nation’s tiny elite, South Korea said on Sunday. The jointly run park, just outside the North Korean city of Kaesong and about 50 kilometers (35 miles) ...

Bloomberg The US Defense Department is urging Turkey and Kurdish forces in Syria to quit firing at each other as reports of fresh violence between the two parties threaten their efforts to counter IS. “We are concerned about the situation north of Aleppo and are working to de-escalate tensions on all sides,” the Pentagon said in a statement. “We have ...

Greenville / AP Republican White House hopefuls called for President Barack Obama to step aside and allow his successor to nominate the next Supreme Court justice, in a debate jolted by the death of conservative Justice Antonin Scalia. Only Jeb Bush said Obama had “every right” to nominate a justice during his final year in office. The former Florida governor ...

JIM GOMEZ / AP With the symbolic handshakes and unity photo-op, President Barack Obama’s high-profile summit with Southeast Asian leaders in California this week aims to step up pressure against China’s increasingly worrisome behavior in disputed waters. Forging a common front and encouraging bolder rhetoric against Chinese assertiveness in the South China Sea, however, will be a challenge among the ...

BEIJING / AP A Chinese nationalist newspaper says American politicians are resorting to petty actions following a unanimous bill approval by the Senate to rename the plaza in front of the Chinese Embassy in Washington after an imprisoned Chinese political dissident. The Communist Party-controlled Global Times called the move on Sunday provocative and said it’s intended to outrage Beijing, although ...

NEW DELHI / Bloomberg India said that it is disappointed with the United States’ decision to sell eight nuclear-capable F-16 fighter jets to Pakistan and that it does not believe such an arms transfer will help combat terrorism. The US government saidthat it had approved the sale of the F-16 fighter aircraft, radar and electronic warfare equipment to Pakistan in ...