BLOOMBERG Earnings estimates for Indian firms may be slashed by about 40% this fiscal year and next due to a host of global and domestic risks, according to Bank of America Corp (BofA). Consensus estimates for NSE Nifty 50 companies are lofty and haven’t moderated despite a weak outlook for software firms, analyst Amish Shah wrote in a note. Estimates ...

LONDON / WAM Gold prices traded near record-high levels on Thursday, as US yields and the dollar dipped after the US Federal Reserve hinted it might pause its rate-hike cycle, Reuters reported. Spot gold was up 0.1% at $2,040.46 per ounce by 0249 GMT. Earlier in the session, prices rose to $2,072.19 per ounce and hovered close to an all-time ...

SHARJAH / WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, in the presence of his wife, H.H. Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of the Board of Directors of BEEAH Group, approved the joint “Jawaher Boston Medical District” project between BEEAH Group, “Mass General Brigham Hospitals Network,” and “Dana-Farber Cancer Institute,” ...

DUBAI / WAM H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, on Wednesday met with Ahmed bin Mohammed Al Sayed, Minister of State and Chairman of the Board of Directors of the Qatar Free Zones Authority, on the sidelines of the closing day of the World Free ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a written letter to King Abdullah II of Jordan regarding bilateral relations between the UAE and Jordan. The letter included an invitation to the Jordanian King to participate in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Andrzej Duda of Poland, on the occasion of his country’s Constitution Day, which is celebrated on May 3. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and His ...

DUBAI / WAM Ahmed Jasim Al Zaabi, the Chairman of Abu Dhabi Department of Economic Development (Added), has attributed Abu Dhabi’s success to continuous evolution, diversification, and sustainable growth. Speaking at the Oracle CloudWorld Abu Dhabi, he emphasised their focus on knowledge, innovation, and long-term sustainability as the pillars of Abu Dhabi’s Falcon Economy. Abu Dhabi’s transformation into a global ...

WELLINGTON / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, visited New Zealand from to enhance cooperation between the two countries in the economic, trade, and cultural fields. During the visit, she met with Nanaia Mahuta, Minister of Foreign Affairs of New Zealand; Damien O’Connor, Minister of Commerce; and James Shaw, Minister of Climate Change, to ...

ABU DHABI / WAM e& announced its consolidated financial results for the first quarter of 2023. The company’s consolidated revenues reached AED13.0 billion. At constant exchange rates, revenue increased by 6.6 percent. Consolidated net profit recorded AED2.2 billion while consolidated Ebitda reached AED6.2 billion, resulting in an Ebitda margin of 48 percent. In the UAE, etisalat by e& recorded 13.9 ...

ABU DHABI / WAM Chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, the Ministerial Development Council held its meeting at Qasr Al Watan in Abu Dhabi, addressing a number of legislations, policies and initiatives to further advance the government work ecosystem. During the meeting, the council discussed ...