News

Abu Dhabi / WAM Multiply group, an Abu Dhabi-based investment holding company, reported AED18.56 billion in net profit for 2022, driven by the strong performance of the group’s investments and growth in its operating portfolio. Despite several global headwinds, most of its subsidiaries showed growth in operating profits in 2022, highlighting the strength of these businesses and the resilience of ...

  Dubai / WAM Tecom group on Friday announced a 12% year-on-year (YoY) increase in revenues to AED1.97 billion and a record 28% YoY increase in net profit to AED725.62 million for the financial year ended December 31, 2022 (FY 2022). The results showed strong demand for the Group’s commercial and industrial properties, supported by Dubai’s strong macroeconomic environment and ...

Abu Dhabi / WAM The UAE Council for Fatwa has called for urgent relief to support people affected by the massive earthquake that jolted parts of Türkiye and Syria. The move is part of the UAE’s efforts to support the Syrian and Turkish peoples and aligns with the “Bridges of Goodness” campaign, which was launched by the Emirates Red Crescent ...

  Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, and part of the PureHealth Group – the UAE’s largest integrated healthcare platform, opens the 17th edition of the annual Seha International Pediatric Conference (SIPC), which will run until February 12 in Abu Dhabi. The three-day conference will cover a spectrum of topics featuring ...

  Dubai / WAM The General Department of Transport and Rescue at Dubai Police has launched the ‘Safe Winter’ campaign to ensure the safety of residents and visitors during winter. As part of the campaign, the police urge the public to take necessary precautions and follow safety guidelines to avoid accidents. They are also urging the public to check weather ...

Abu Dhabi / Gulf Time Adnoc Dhow Bearing Race 22-foot is scheduled to start at 3 pm on February 11. The race, which is organised for a distance of 7 nautical miles, will start from A’Ali area in Lulu Island and will go towards the finish line at the flagpole on Abu Dhabi Corniche, where first place winners will be ...

Bloomberg Walt Disney Co. shares rose as much as 7% in early trading after Chief Executive Officer Bob Iger announced plans for a dramatic restructuring of the world’s largest entertainment company, including 7,000 job cuts and $5.5 billion in cost savings. The reductions include plans to cut $3 billion from its budget for movies and TV shows and the rest ...

  Bloomberg German inflation slowed in January to the lowest level in five months thanks to further government aid to ease the burden on households from soaring energy costs. Consumer-price growth eased to 9.2% from 9.6% in December, Germany’s statistics agency said Thursday. Destatis had postponed the data’s scheduled release last week due to processing problems. That delay forced Eurostat ...

  Bloomberg Applications for US unemployment benefits rose for the first time in six weeks but remained historically low, underscoring the resilience of the job market despite mounting economic uncertainty. Initial unemployment claims rose by 13,000 to 196,000 in the week ended Feb. 4, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for ...

  Bloomberg AstraZeneca Plc said it chose Ireland for a new manufacturing facility instead of the UK because of punitive tax rates, raising fresh fears over Britain’s attractiveness to Big Pharma. The drugmaker initially wanted to make the $360 million investment in the UK, but “the tax rate was discouraging,” Chief Executive Officer Pascal Soriot said in a briefing with ...