Bloomberg ING Groep NV reported second quarter profit that beat analyst estimates as it set aside less money for soured loans. Net income of €2.16 billion ($2.36 billion) in the second quarter compared with expectations for profit of €1.72 billion, the bank said. ING added €98 million to its loan loss provisions in the quarter, well below the €383 million …
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BLOOMBERG The Bank of England (BOE) raised interest rates to a new 15-year high, warning that its fight against inflation may require tighter borrowing conditions for a prolonged period. The UK central bank lifted its key rate a quarter point to 5.25%, a smaller hike than the half-point increase delivered in June. Investors and economists had expected the move and …
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BLOOMBERG Next Plc raised its guidance for the second time in recent months after wet weather and sticky inflation failed to deter shoppers from buying fashion. Full-price sales in the second quarter rose nearly 7% on last year, according to the company’s earnings report. That has driven Next to increase its forecast for profit before tax by £10 million ($12.7 …
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BLOOMBERG Deutsche Lufthansa AG and Wizz Air Holdings Plc slid after reporting robust quarterly results, as investors focused in on capacity constraints and cost pressures that will prevent the carriers from taking full advantage of demand for air travel. Lufthansa, Europe’s biggest airline group, said that cost inflation is being driven by a rise in air traffic control and airport …
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DUBAI / WAM DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products in the UAE. The MoU was signed by Ahmad Hamad bin Fahad, CEO of DUBAL Holding, …
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ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the second edition of the Global Media Congress (GMC), held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, is an ideal platform for fast-tracking the development of …
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ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, has discussed bilateral relations and mutual cooperation with Santiago Andrés Cafiero, Minister of Foreign Affairs, International Trade and Worship of the Republic of Argentina. During a phone call, the two sides explored the ways to enhance cooperation for their mutual interests. Minister Cafiero expressed his …
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DUBAI / WAM DXB LIVE, the integrated event management and experiential agency of Dubai World Trade Centre, will organise the third edition of the World of Coffee Exhibition in 2024, in line with its unwavering commitment to supporting the thriving coffee sector in the Middle East and North Africa (Mena) region. The exhibition will be held in collaboration with the …
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DUBAI / WAM Aurora50, the UAE-based training and development company dedicated to creating thriving, inclusive workplaces, in partnership with Abu Dhabi National Energy Company PJSC (Taqa), Accenture, Emirates Global Aluminium (EGA), Emirates Group, and Enoc, have launched new membership community named “Noora” to support ambitious corporate women, from first-time managers to leaders of leaders. Supporting the UAE’s continued efforts to …
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AMDJARASS / WAM The second coordination office for UAE foreign aid was inaugurated in the Chadian city of Amdjarass, as part of the UAE’s continuous efforts to provide assistance to the Chadian people and support endeavours to provide humanitarian and relief aid through the UAE’s humanitarian institutions to Sudanese refugees in Chad. Sultan Mohammed Al Shamsi, Assistant Minister for Development …
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