Bloomberg Amazon.com Inc. investors have traditionally given it a pass on money-losing quarters and narrow profit margins so long as revenue growth kept surpassing expectations. That dynamic flipped, propelling the 24-year-old company into a potentially steadier phase. Amazon reported a record second-quarter profit of $2.53 billion, or $5.07 per share. The Seattle-based company has generated net income of $4.16 billion ...

HODEIDAH / WAM The Emirates Red Crescent (ERC), has sent an urgent relief convoy to the Tuhaita District and other liberated areas of the historic Zubid city in the governorate of Hodeidah as part of the UAE’s emergency relief response to the humanitarian situation in the Red Sea Coast liberated areas. The ERC said the urgent food assistance includes food ...

Bloomberg Major car-producing nations are due to meet without the US to discuss possibly coordinating their response to President Donald Trump’s threat of tariffs. Representatives of the European Union, Canada, Mexico, South Korea and Japan will convene in Geneva on July 31 to debate how to respond if the US imposes levies on car imports, as well as prospects for ...

NEW DELHI / WAM The UAE and Invest India have on Saturday signed a Memorandum of Understanding for the India – UAE Artificial Intelligence Bridge which is dedicated to spur discussion and explore options for both countries to grow their artificial intelligence economies. This partnership will generate an estimated $20 billion in economic benefits during the next decade. Omar bin Sultan ...

DUBAI / Emirates Business Arab Bank Group reported net income after tax for the six months period ended June 30 of $436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid ...

SHARJAH / WAM In observing its premier status as Sao Paulo International Book Fair’s first-ever guest of honour, at its 25th edition, which runs from August 3-12, Sharjah will be putting its best foot forward in showcasing the gems of Emirati culture, with a special focus on their achievements in the past four decades. Sharjah’s pavilion at the book biennial ...

ABU DHABI / WAM More than 28,000 people visited The Founder’s Memorial in Abu Dhabi, since its public opening on April 22, becoming one of the major landmarks of the emirate. The Memorial is a permanent national tribute to the Founding Father, late Sheikh Zayed bin Sultan Al Nahyan, and represents a window for the visitors to learn about life ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister, has issued Decree No. (24) of 2018 appointing and replacing members of the Board of the Dubai Islamic Economy Development Centre (DIEDC). According to the Decree, the Chairman of the Board of the Awqaf and Minors ...

ABU DHABI / WAM The Ministry of Culture and Knowledge Development and the Public Diplomacy and Culture Directorate at the Ministry of Foreign Affairs and International Cooperation, have announced to hold the UAE-China Week annually. The events will take place in the UAE and China in celebration of the cultural relations and will highlight features of local heritage of the ...

Sharjah / WAM The Sharjah Finance Department has won the ‘Best in Class Treasury Solution in the Middle East’ award by the Adam Smith Awards 2018 for the outstanding achievement in reducing processing times and savings in operational cost. Waleed Al Sayegh, General Director of Sharjah’s Central Finance Department, received the prestigious award at the Sharjah Central Finance Department from ...