SHARJAH / WAM United Arab Bank (UAB), announced its financial results for the three months ending March 31. UAB reported a net profit of AED22 million in Q1 2019 supported by an increase in interest income of six percent and uplift in non-interest income of three percent compared to Q1 2018. The bank has reported three percent lower operating expenses ...

ABU DHABI / WAM Agthia Group on Wednesday reported Q1 2019 net profit of AED40 million and revenue of AED508 million, representing revenue growth of 3.4 percent compared to the same period in 2018. Dhafer Ayed Al Ahbabi, Chairman of Agthia, said, “Our core businesses maintained their growth momentum in the first quarter despite persistent market challenges. We continue to ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), on Wednesday reported its financial results for the first quarter ended March 31. Adnic achieved significant gross written premium growth by 42.8 percent to AED1.74 billion, compared to AED1.22 billion for the same period in 2018. Adnic’s net profit reached AED52.6 million. Commenting on Adnic’s performance, Sheikh Mohamed bin Saif ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has called on government and private sector employees through his social media platforms to participate in a new innovative humanitarian competition. Launching the “Well of Hope” competition, Sheikh Mohammed bin Rashid Al Maktoum tweeted, “A new institutional humanitarian ...

Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced 19 sustainability requirements that hotel establishments across the emirate will be mandated to comply with under new direction in line with the Dubai Sustainable Tourism (DST) initiative. The requirements have been laid out to support the emirate’s hotel establishments in their compliance with the Dubai ...

Abu Dhabi / WAM Working hours for the private sector will be reduced by two hours during the Holy Month of Ramadan, according to the Ministry of Human Resources and Emiratisation. Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, issued the decision as per Article 65 of Federal Law No. 08 of 1980. The minister extended his ...

Abu Dhabi / WAM “Tolerance is like oxygen and the people of the UAE are the trees helping equally to produce the oxygen of tolerance,” Sheikh Nahyan bin Mubarak Al Nahyan, the UAE’s Minister of Tolerance said on Wednesday. “The greater the participation of the country’s people in promoting tolerance, the more harmonious, peaceful and prosperous the country will be.” ...

Abu Dhabi / Emirates Business Adnoc Distribution, the UAE’s largest fuel and convenience retailer and a company listed on Abu Dhabi Securities Exchange (ADX), on Wednesday reported that its first quarter 2019 net profit increased by 6.6% to AED 578 million ($157 million) when compared with the same period last year. Excluding inventory gains recorded in Q1 2018, the 2019 first ...

DUBAI / WAM The Supreme Council of Energy held its 55th meeting, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group. The meeting agenda covered several topics, notably the progress related to the ‘Demand Side Management Strategy 2030’ to reduce energy and water ...

Bloomberg US stocks edged higher as Apple Inc’s upbeat sales projection boosted technology shares, while Treasuries climbed before the Federal Reserve’s decision. The S&P 500 Index looked for a fourth day of gains and a fresh record and tech-heavy Nasdaq indexes outperformed as the iPhone maker again closed in on a $1 trillion market valuation. Advanced Micro Devices Inc’s outlook ...