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Dubai / WAM Dubai Islamic Bank (DIB) on Wednesday announced its net profit reached AED 2.12 billion during the first half of the year, as it continues to demonstrate healthy profitability whilst ensuring prudence in growing the balance sheet. According to financial results for the period ending June 30, the bank’s total income reached AED 6.82 billion whilst net operating ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (Adek) has issued holistic guidelines to reopen private schools with safety measures in place for the new academic year. Adek has worked extensively over the last few months with schools, parent representatives, teachers and the relevant authorities to make these policies as comprehensive as possible. The policies are ...

Bloomberg For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss. Once a money-making machine, Big Oil is now relying on ever-increasing amounts of debt, raising the pressure on highly prized dividends. BP Plc may cut its payout for the first time since the ...

Bloomberg China vowed retaliation after the US forced the closure of its Houston consulate, prompting stocks to fall in one of the biggest blows to diplomatic ties between the two countries in decades. The US government gave China three days to close its consulate in America’s fourth-most populous city in an “unprecedented escalation,” Chinese Foreign Ministry spokesman Wang Wenbin told ...

Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of the Etihad Aviation Group, is set to streamline regulatory compliance screening processes for shipments via a new partnership with E2open, a leading provider of intelligent supply chain solutions. Scheduled to be fully operational by November, the E2open application implementation will enable Etihad Cargo to automate cargo screening against ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has launched ‘Picture Yourself in Abu Dhabi’ initiative in order to take full advantage of the current proliferation of remote communication and video conferencing applications due to the Covid-19 pandemic. The initiative, which has been rolled out for Abu Dhabi Government entities, gives users ...

Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has partnered with American University of Sharjah (AUS) to foster the next generation of professionals across the finance sector. Through the collaboration, the DGCX will offer AUS undergraduate students the opportunity to participate in an internship programme and educate them about how the DGCX operates and the ...

Bloomberg Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya ...

Bloomberg Japan’s government will start subsidising some companies to invest in factories in Japan and South-East Asia as part of efforts to reduce reliance on manufacturing in China. Fifty-seven companies including privately-held facemask-maker Iris Ohyama or Sharp will receive a total of 57.4 billion yen ($536 million) in subsidies from the government to invest in production in Japan, the Ministry ...

Bloomberg British intelligence services must conduct a full review of the 2016 Brexit referendum to see whether hostile Russian action swayed the vote, after the government failed to investigate, a panel of lawmakers said. Members of Parliament’s Intelligence and Security Committee accused ministers of deliberately avoiding the question because they did not want to know whether Russia had tried to ...