May, 2018

• 19 May

  Angry Birds maker cuts marketing spend to lift profitability

  

  Bloomberg Rovio Entertainment Oyj said its profitability improved in the first quarter after the Angry Birds game maker spent less on winning over users for its games and saw cost efficiencies in brand licensing. Adjusted earnings before interest, tax, depreciation and amortisation grew 43 percent to 14.6 million euros ($17.3 million). The earnings margin rose to 22.2 percent of sales, ...

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• 16 May

  NPCC profit up 57%

  

  ABU DHABI / WAM Hussein Al Nowais, Chairman of National Petroleum Construction Company (NPCC), a subsidiary of the Senaat Abu Dhabi, announced the company achieved a profit of AED700 million in 2017, an increase of 57% that the previous year, despite impact of low oil prices. Its revenues increased 21% to AED5.7 billion, an indicator of comp- any’s topline performance. ...

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• 16 May

  UAE leaders greet Arab and Islamic nations on Ramadan

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has sent congratulatory messages to the Kings, Emirs and Presidents of Arab and Islamic nations, on the advent of the Holy Month of Ramadan. In his messages, President His Highness Sheikh Khalifa wished the leaders and their people continued good health and well-being, and further progress and ...

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• 16 May

  Adnoc Distribution posts 12.1% growth in Q1 profit

  

  ABU DHABI / WAM Adnoc Distribution released its financial results for the first quarter of 2018, with strong double-digit growth in net profit and EBITDA as well as impressive growth in gross profit in its convenience store business. Gross profit for the period increased 14.3% compared to the same period last year to AED1.185 billion, EBITDA has grown 24.9% to ...

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• 16 May

  ADFD-funded residential, infra project inaugurated in Bahrain

  ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) attended inauguration of the Northern City Residential and Infrastructure Project, one of the key strategic projects in Bahrain. ADFD has allocated AED 2.6 billion towards the development of the project. The Northern City Residential and Infrastructure Project has been developed as part of AED9.175-billion grant provided by the UAE to ...

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• 16 May

  Noor Bank lists $500mn sukuk on Nasdaq Dubai

  DUBAI / WAM Noor Bank welcomed listing of $500 sukuk on Nasdaq Dubai. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide range of products and services including retail, corporate and investment banking as well as treasury and insurance. Noor Bank has arranged over $64 billion ...

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• 16 May

  UPS opens $163mn logistics hub at DP World London Gateway

  

  DUBAI / WAM UPS officially opened its new 32,000 square metre package sorting and delivery facility in the south east of England. At $163 million, the new London Hub is one of UPS’s largest single infrastructure investments outside of the United States in the company’s history. “Every single day, we see evidence of a more inter-connected world of commerce. And ...

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• 16 May

  ADX achieves 99% disclosure compliance

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99 percent regarding the disclosure of the first quarter (Q1) financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period. As many as 65 listed companies out of ...

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• 16 May

  Khalifa Foundation to distribute 951,000 meals during Ramadan

  

  ABU DHABI / WAM Upon the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the follow-up of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs and President of the Khalifa bin Zayed Al Nahyan Foundation, the Khalifa bin Zayed Al Nahyan Foundation has concluded its preparations to launch its ...

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• 16 May

  UAE wins membership in Arab Civil Aviation Council

  

  RABAT / WAM The UAE, represented by the General Civil Aviation Authority, won a membership in the Executive Council of the Arab Civil Aviation Organisation (ACAC) during the 24th General Assembly Meeting held in Rabat, Morocco, receiving 17 votes out of 20. Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority, said: “We in the UAE, are always ...

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