DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stressed that generosity and the UAE are two sides of the same coin, and that the “1 Billion Meals Endowment” campaign will continue to welcome donations throughout the year. Once again leading by example and showing his full …

SHARJAH / WAM Sharjah Islamic Bank (SIB) announced that its operating profit before provisions increased by 31.9 percent, amounting to AED327.7 million for the first quarter of 2023, compared to AED248.5 million for the same period last year. Net profit reached AED233.1 million for the quarter ending March 31, compared to AED187.0 million for the same period last year; an …

DUBAI / GULF TIME Emirates will be expanding its schedule this week to offer 38 additional flights across six cities in the GCC and Middle East to meet significant demand for Eid Al Fitr holiday travel. This year, more than 110,000 travellers are expected to board Emirates flights during Eid Al Fitr across the region, with additional flights planned for …

ABU DHABI / WAM The Abu Dhabi Businesswomen Council, a subsidiary of the Abu Dhabi Chamber, has appointed Fatima Helal Al Blooshi as a director of the council, to lead the development of women’s role in the private sector and enable them to be a key partner in the emirate of Abu Dhabi’s sustainable economic development. Al Blooshi is a …

BEIJING / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, has concluded a two-day trip to China, where he held a series of bilateral meetings, including with Ding Xuexiang, First Vice Premier of China; Zhao Chenxin, Vice Chairman of the NDRC; Huang Runqiu, Minister of Ecology and Environment; Xie Zhenhua, Special Envoy …

BLOOMBERG European natural gas prices moved higher amid a forecast for colder and calmer weather that could boost demand at a time when production outages are set to limit volumes available for refilling stockpiles. Germany is due to see unusually low temperatures this week, while a cold spell is expected in the UK next week, according to forecaster Maxar Technologies. …

BLOOMBERG Apple Inc’s sales in India hit a new high of almost $6 billion in the year through March, highlighting the market’s increasing importance for the iPhone maker as Chief Executive Officer Tim Cook arrived in the country to open its first local stores. Revenue in India grew by nearly 50%, from $4.1 billion a year earlier, according to a …

BLOOMBERG Volkswagen AG’s namesake brand is unveiling its first fully electric sedan, as the carmaker struggles to move past software setbacks that have hurt sales in markets from Europe to China. The spacious ID.7, which starts at less than €60,000 ($66,000), marks a key effort to compete with Tesla’s Model 3 and a range of Chinese startups. With the launch …

BLOOMBERG Alphabet was headed for its biggest single-day decline in more than two months following a report that Samsung Electronics is considering replacing Google with Microsoft’s Bing as the default search engine on its devices. Suwon, South Korea-based Samsung, the world’s leading smartphone maker, is considering making the switch, the New York Times reported, estimating that roughly $3 billion in …

BLOOMBERG Infosys Ltd nosedived 15%, the biggest intraday slump since October 2019, after the company’s guidance painted a negative outlook for India’s technology sector following turmoil at US and European banks. The IT services firm was hit by a wave of downgrades after saying sales growth will be just 4% to 7% this financial year because of a reduction in …