Bloomberg Microsoft Corp.’s turnaround plan got back on track in the latest quarter, buoyed by rising sales of internet-based software and services. Profit in the fiscal fourth quarter exceeded analysts’ estimates and adjusted sales rose 9 percent as demand almost doubled for Azure cloud services, which let companies store and run their applications in Microsoft data centers. A tax-rate benefit ...

KHOBAR / Reuters State oil firm Saudi Aramco is considering building new facilities to add production of Arabian Heavy crude from the Zuluf offshore oilfield, industry sources said. The central processing plant is expected to have two units, known as trains, with a total capacity of 600,000 barrels per day (bpd) to process Arabian Heavy crude supplied by electrical submersible ...

Dubai / WAM Emirates NBD recorded half-year net profits of AED3.9 billion, up 5 percent on higher net interest income, lower expenses and lower provisions. Net interest income improved 2 percent year-on-year due to loan growth and helped by a recent improvement in margins. Net interest margin improved since the beginning of the year as loans reset at higher rates ...

Abu Dhabi / WAM The first of five turbines for the Hywind Scotland commercial-scale floating offshore wind farm has now sailed away from Stord in Norway to its final destination, Buchan Deep, 25 km east of Peterhead in Scotland. Masdar, Abu Dhabi’s renewable energy company, announced that it had acquired a 25% stake in the Hywind Scotland project during Abu ...

BEIJING / WAM UAE Minister of State, Dr Sultan Ahmed Al Jaber, met on Wednesday with the Foreign Minister of the People’s Republic of China, Wang Yi, to discuss means of enhancing political, social, economic and trade relations between the two countries. Dr Al Jaber’s discussions with the Foreign Minister also included an exchange of sha- red views on extremism ...

DUBAI / Emirates Business The United Arab Emirates is most prepared for change among the Middle East and North African (MENA) countries, and the third most prepared in the world, KPMG’s 2017 Change Readiness Index (CRI) showed. The leading global audit, tax and advisory firm, launched the 2017 KPMG International Change Readiness Index, ranking 136 countries for their capacity to ...

AJMAN / WAM A total of 1052 business licenses have been issued in Ajman during Q2, 2017, reflecting the accelerated development of the emirate’s economy. With only 165 licenses revoked, the figures, revealed by the Planning and Development Division at Ajman Department of Economic Development, DED, indicated a 12.3 percent growth in the number of renewed licenses during the same ...

DUBAI / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis, the integrated free zone technology park, in collaboration with NXN (formerly neXgen), the leading smart city consulting and digital service provider, have received the prestigious ‘Best Infrastructure Innovation Award’ for its Silicon Park project at the annual Global Telecoms Business (GTB) Innovation Awards ceremony ...

DUBAI / WAM The Primary Health Care (PHC) sector will witness a notable expansion in its facilities and services in the next phase, Dr Manal Taryam, CEO of PHC at the Dubai Health Authority (DHA) revealed during the ‘Leaders at Your Service’ session, on Wednesday. The DHA launched Leaders at Your Service, under the directives of Humaid Al Qutami, Chairman ...

TBILISI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with the Foreign Minister of Georgia, Mikheil Janelidze to discuss means of enhancing and developing bilateral relations between the two countries. During the meeting, which was held as part of Sheikh Abdullah’s official visit to Georgia, the two ministers also reviewed the ...