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FUJAIRAH / WAM National Bank of Fujairah (NBF) announced its results for the six month period ended on June 30. NBF posted a record net profit of AED357.1 million, a rise of 15.1 percent over the corresponding period of 2018, which exhibits its resilient business strategy. The bank also recorded its best-ever half-year operating profit of AED567.0 million which increased ...

Bloomberg Tens of thousands of Hong Kong protesters marched through the city centre to the vicinity of government headquarters, ignoring a police-approved end point and defying a ruling that shortened the planned route. The march marked the sixth straight week of anti-government rallies that have put increasing pressure on the financial hub’s administration. Organizer Civil Human Rights Front said the ...

Bloomberg Masayoshi Son likes to sketch out a grand vision for the future of artificial intelligence to justify his seemingly scattershot approach to investing. He let his proteges and startups speak for themselves. SoftBank Group Corp’s $100 billion Vision Fund has 82 companies in its portfolio who delve into areas from satellites and autonomous driving to chips and cancer detection. ...

Bloomberg Buyout firm CVC Capital Partners and Singapore’s sovereign wealth fund GIC Pte are among firms considering bids for a stake in the $6.4 billion European settlements giant Euroclear, according to people familiar with the matter. The Brussels-based company, which counts London Stock Exchange (LSE) Group Plc as a shareholder, is planning to decide in the coming days whether to ...

Bloomberg UK lawyers with lucrative careers in European Union law are fighting to save their jobs after the bloc’s top courts warned that a no-deal Brexit would forbid them from representing clients. In a letter, a senior official at the Court of Justice of the European Union in Luxembourg urged British lawyers practicing EU law to put in place contingency ...

Bloomberg Europe’s carbon market is nearing the psychologically important threshold of 30 euros ($33.70) a ton after signs the region will tighten rules on polluters and curtail supplies of allowances. The value of the securities that cover greenhouse gas emissions from industry and utilities has almost doubled in the past year, finishing at their strongest weekly close since 2006. That ...

Bloomberg Microsoft Corp rose to a record after topping quarterly sales and profit projections, fuelled by steady demand for cloud-computing services and a surprisingly strong Windows business. The company’s forecast promised robust growth will continue into next year. The software maker pledged “double-digit” percentage gains in sales and operating income for the year. Results are getting a boost from larger ...

ABU DHABI / WAM Promoting our national heritage and preserving and documenting our history and traditions for future generations is of utmost importance to preserving our national identity, said HH Sheikha Maryam bint Mohamed bin Zayed Al Nahyan, during the inaugural Cultural Councils Initiative meeting. The Ministry of Culture and Knowledge Development hosted the Cultural Councils Initiative, a sector-focussed platform ...

SHARJAH / WAM The Sharjah International Airport Free Zone (Saif Zone), and Hamriyah Free Zone Authority (HFZA) have bagged two international awards, in recognition of their sustained efforts to develop state-of-the-art business infrastructure that meet investors’ growing needs. The two free zones received the European Society for Quality Research, ESQR’s, ‘Quality Choice Prize 2019’ in the ‘Gold Category 2019’ at ...

ABU DHABI / WAM While the Middle East is currently experiencing daunting challenges, the upcoming UAE-China Summit will carry weight and global and political value. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, will pay a state visit to China on Sunday where he will hold ...