Bloomberg Goldman Sachs Group Inc., once the most profitable firm on Wall Street, reported a 47 percent increase in third-quarter earnings as revenue from bond trading surpassed analysts’ predictions. Net income rose to $2.09 billion, or $4.88 a share, from $1.43 billion, or $2.90, a year earlier, the New York-based company said. Chief Executive Officer Lloyd Blankfein, 62, has …

  Bloomberg BlackRock Inc., the world’s largest money manager, said third-quarter profit rose 3.8 percent as the firm cut costs while assets under management increased. Net income increased to $875 million, or $5.26 a share, from $843 million, or $5, a year earlier, according to a statement on Tuesday. Adjusted earnings of $5.14 a share beat the $4.98 average estimate …

  Bloomberg Chinese central bank Deputy Governor Fan Yifei talked up the importance of asset-management firms created to clean up bad loans at a briefing on Sunday, saying that they played a key role in reducing corporate leverage. Speaking in Beijing at the launch of a restructured China Orient Asset Management, a bad-loan manager backed by the Finance Ministry and …

  QUITO / WAM The 193 countries of the United Nations, represented by over 30,000 delegates, on Monday night adopted a milestone new approach to sustainable urban development, with prominent assistance from the United Arab Emirates. Cities now represent around 80% of global GDP, and by 2050 are expected to grow in population from 3.9 billion in 2014 to 6.3 billion …

  Dubai / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the launch of the national campaign ‘Let’s Preserve the Legacy’ and extended an open invitation to the community to contribute historical items to the Etihad Museum, which will be officially inaugurated during the UAE National Day …

  Abu Dhabi / WAM The Abu Dhabi National Exhibition Centre pavilion showcasing the 2017 editions of the International Defence Exhibition and Conference (IDEX) and Naval Defence Exhibition (NAVDEX) drawn high interest from key decision makers and delegates attending Euronaval 2016, the leading maritime defence show currently underway in Paris, France. Humaid Matar Al Dhaheri, Acting Group CEO of Abu Dhabi National …

  Dubai / Emirates Business Malabar Gold & Diamonds’ the prominent global jewellery retailer unveils the ‘Delightful Diwali’ campaign in United Arab Emirates commencing from today. This season, Malabar Gold & Diamonds showcases the latest collection of gold, diamond & precious gems jewellery in their outlets, to celebrate this festive period. Malabar Gold & Diamonds give their customers an opportunity …

  Dubai / WAM Dubai has achieved the rank 16 place out of the 28 peer global cities which are currently considered the most prominent players in the field of innovation and creativity, registering an innovation rate of 39.14%. Dubai has also progressed to 11th place in the world for efficiency in innovation outputs, according to Dubai Chamber’s Innovation Index. The …

  Abu Dhabi / Emirates Business Etihad Airways on Tuesday announced its Abu Dhabi – Madrid route will operate daily with the introduction of three new flights each week, effective June 1, 2017. The additional frequencies underscore the airline’s commitment to offer guests greater choice and more travel options. Continuing to operate with a two-class Airbus A330-200 offering 22 Business …

  Dubai / Emirates Business The 7th Annual Middle East FireSafe Summit, supported by Directorate General of Civil Defence-Dubai, kicked off on Tuesday at the Shangri-La Hotel, Dubai. The two-day summit will witness government bodies, fire safety institutions, trade bodies and global fire safety leaders coming together and staging a dialogue on achieving fire safety excellence in the region. Brigadier …