Bloomberg Microsoft Corp.’s turnaround plan got back on track in the latest quarter, buoyed by rising sales of internet-based software and services. Profit in the fiscal fourth quarter exceeded analysts’ estimates and adjusted sales rose 9 percent as demand almost doubled for Azure cloud services, which let companies store and run their applications in Microsoft data centers. A tax-rate benefit ...

KHOBAR / Reuters State oil firm Saudi Aramco is considering building new facilities to add production of Arabian Heavy crude from the Zuluf offshore oilfield, industry sources said. The central processing plant is expected to have two units, known as trains, with a total capacity of 600,000 barrels per day (bpd) to process Arabian Heavy crude supplied by electrical submersible ...

Dubai / WAM Emirates NBD recorded half-year net profits of AED3.9 billion, up 5 percent on higher net interest income, lower expenses and lower provisions. Net interest income improved 2 percent year-on-year due to loan growth and helped by a recent improvement in margins. Net interest margin improved since the beginning of the year as loans reset at higher rates ...