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ABU DHABI / WAM Mohammed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD) met a high-level Gambian delegation to the UAE, led by President Adama Barrow of Gambia, to discuss development funding and investment opportunities in the African country. Delegates included several Gambian ministers and government officials. The meeting also drew the participation of Fansu Bojang, Ambassador ...

Dubai / Emirates Business The Commercial Bank of Dubai (CBD) recorded a net profit of AED 701 million for the first half of 2019, representing an increase of 25 percent over the same period last year. The strong results have been attributed to broad based business improvement. The operating expenses increased marginally by 1.1 percent primarily on the back of ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported a record half year net profit of AED6.3 billion, up 4 percent year-on-year, driven by revenue growth, coupled with continued cost control and prudent risk management. According to its financial results for the first half ended on June 30, FAB delivered a solid financial performance in the first half of ...

CHANDIGARH / WAM The trade and investment flow between India and the United Arab Emirates are poised to expand rapidly with the launch of a major initiative by DP World, UAE Region. The recent launch of the ‘India-UAE Bridge’ initiative is set to attract both Indian and UAE trade and investments as DP World offers technology-driven end-to-end (e2e) smar-ter trade ...

Bloomberg India may spin off units of Coal India Ltd, the world’s largest coal miner, into separate listed companies to boost competition and raise government funds, according to people with knowledge of the matter. The state-run company and the coal ministry are studying a proposal by the finance ministry’s Department of Investment & Public Asset Management to list four of ...

Bloomberg Chinese video-game live-streaming platform DouYu International Holdings Ltd and its shareholders raised $775 million after pricing its US initial public offering at the bottom of its marketed range. The company, which delayed its IPO amid market jitters in May, sold 44.9 million American depository shares for $11.50 each, according to a statement. Its existing investors sold 22.5 million shares ...

Bloomberg A French-US clash over digital taxation overshadowed the start of a Group of Seven (G-7) finance chiefs meeting as France refused to flinch on its levy that would hit tech giants from Facebook to Alphabet’s Google. Just before an encounter with US Treasury Secretary Steven Mnuchin at the G-7 near Paris, French Finance Minister Bruno Le Maire pledged to ...

Bloomberg Siemens AG will resume deliveries on a 6 billion-euro ($6.7 billion) high-speed train order from its biggest customer, Deutsche Bahn AG, ending a three-month freeze that followed the discovery of an equipment fault, according to a person familiar with the matter. An announcement of the resumption in the handover of its flagship ICE 4 trains to the German rail ...

Bloomberg European car registrations fell sharply in June, resuming a downward spiral this year that has seen profit warnings at German manufacturer Daimler AG and a quarterly automotive division loss at rival BMW AG. Sales dropped 7.9 percent to 1.49 million cars, the European Automobile Manufacturers’ Association said, the worst monthly decline since December. France and Spain had falls of ...

Bloomberg The Democratic-led House responded to Donald Trump’s sustained attacks on four female Democratic lawmakers by taking the extraordinary step of rebuking the president for racism. The resolution — backed by all 235 Democrats, four Republicans and one independent — accused the president of having “legitimised and increased fear and hatred of new Americans and people of colour,” a serious ...