ABU DHABI / WAM First Abu Dhabi Bank (FAB) reported solid operating performance for the first quarter that ended on March 31, on Monday, with net profit amounting to AED3.1 billion, up 6 percent sequentially and 4 percent YoY. According to a press statement released by the bank, annualised earnings per share (EPS) stood at AED1.08, compared to AED1.06 in …

Bloomberg The world’s biggest oil exporter is ramping up efforts to develop natural gas with plans for a 15-fold boost in output from unconventional deposits of the fuel. Saudi Aramco is building facilities to tap shale gas in the kingdom’s oil-rich eastern region and is making “a lot of progress” towards this goal, CEO Amin Nasser told report-ers in Dammam. …

DUBAI / WAM Dubai SME, the agency of the Department of Economic Development (DED), mandated to develop the small and medium enterprise (SME) sector, has signed a memorandum of understanding (MoU) with the Dubai Chamber of Commerce and Industry, to launch an index that will evaluate the cost of doing business for SMEs in Dubai. The MoU was signed by …