Dubai / Emirates Business Damac Properties Dubai Co announced financial resu-lts for the first half of 2019, reporting a total revenue of AED1.9 billion, with boo-ked sales reported at AED1.8 billion. Gross profits for the same period stood at AED502 million reflecting gross profit margins of 27 percent. Total assets stood at AED24.7 billion compared to AED25.2 billion as of ...

DUBAI / Emirates Business Under the patronage HE Dr Abdullah Belhaif Al Nuaimi, the UAE Minister of Infrastructure Development and the Chairman of Federal Transport Authority for Land and Maritime, Breakbulk Middle East (BBME), the largest breakbulk and project cargo event in the GCC, will return to the UAE on February 25-26, 2020. This will mark the second consecutive year ...

Dubai / Emirates Business Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, announced its results for the second quarter ending on June 30. Amanat recorded a net profit of AED35.1 million in H1 2019 representing a 26 percent increase compared with the same period in 2018, and a total income of AED63.8 million, up 28 percent ...

AJMAN / WAM The Ajman Free Zone has signed a Memorandum of Understanding (MoU) and associated documents with Dubai Insurance Company to provide insurance services to workers employed by organisations operating within the free zone. The new service will replace the current bank guarantee system and will cover all the dues of workers, including the end of service gratuity, annual ...

ABU DHABI / WAM The UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) hosted the meetings of the 7th UAE-UK Consular Affairs Committee meetings in Abu Dhabi. The UAE delegation was led by Badr Al Awadhi, Director of Consular Services Administration at the Ministry, while the British side was led by Julia Longbottom, Director of Consular Affairs at the ...

DUBAI / WAM Smart Dubai hosted the second meeting of the Dubai Future Council for Blockchain at its offices in the Dubai Design District, bringing together local and global decision-makers from various government departments and private companies with a vested interest in smart city technologies. Chaired by Smart Dubai’s Director-General, Dr Aisha bint Butti bin Bishr, the council was formed ...

Bloomberg Hon Hai Precision Industry Co., the biggest assembler of iPhones, reported better-than-projected earnings after snagging additional business from Chinese smartphone giant Huawei Technologies Co. The company reported a 2.5% decline in net income to NT$17.1 billion, compared with the average analyst estimate of NT$16.3 billion. Revenue for the April-June period reached NT$1.16 trillion, according to Bloomberg calculations from previous ...

Bloomberg The European Union (EU) imposed tariffs on biodiesel from Indonesia to counter alleged subsidies to producers in the country, risking tit-for-tat retaliation by the Indonesian government. The EU duties on Indonesian exporters of biodiesel, a type of biofuel made from vegetable oils and animal fats for use in diesel engines, range from 8% to 18%. The levies mark the ...

Bloomberg CK Asset Holdings Ltd., the developer founded by billionaire Li Ka-shing, postponed a planned sale of condominiums in Hong Kong as ongoing political protests made it difficult to market the luxury residences. The homes at 21 Borrett Road would not be offered for sale as scheduled this month, a spokeswoman for the company said on Wednesday, confirming an earlier ...

Bloomberg Australia is pushing back against calls from Pacific Island leaders to ditch its commitment to coal mining to help combat climate change, saying its neighbours need to respect the country’s reliance on the industry. The world’s second-biggest coal exporter is increasingly a flash point in the battle against carbon emissions after Prime Minister Scott Morrison’s government was reelected in ...