July, 2016

• 28 July

  European equities slip in line with dollar

  

    London / AFP European stocks and the dollar slid on Thursday after the Federal Reserve held interest rates and indicated it would take a slow, measured approach to any hikes. Markets also digested a barrage of company results, including from Britain’s Lloyds Banking Group, Rolls-Royce and Royal Dutch Shell, as well as France’s Carrefour, BNP Paribas and Renault, and ...

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• 28 July

  Tokyo shares fall with BoJ meeting in focus

    Tokyo / AFP Tokyo shares fell on Thursday as a Bank of Japan (BoJ) policy meeting kicked off, with markets waiting to see if policymakers unleash a fresh round of stimulus to kickstart sluggish growth. The gathering is the BoJ’s first since Britain’s shock vote to quit the European Union hammered financial markets and sparked a rally in the ...

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• 27 July

  Moral Education initiative launched

    ABU DHABI / WAM Under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Crown Prince’s Court has launched an education initiative to be included in school curricula and courses in the form of a subject entitled, “Moral Education”, in cooperation and ...

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• 27 July

  Emaar Malls posts 17% profit growth in first half

  

    DUABI / EMIRATES BUSINESS Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties (DFM: EMAAR), has reported first-half (January to June) 2016 net profit of AED 987 million (US$ 269 million), 17 percent higher than the net profit of AED 845 million (US$ 230 million) during the same period last year. Revenue for ...

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• 27 July

  Etisalat records 51% surge in Q2 profit

  

    ABU DHABI / WAM Emirates Telecommunications Group Co. (Etisalat Group) reported a consolidated net profit (after federal royalty) of AED 2.3 billion for the second quarter of 2016, a 51 percent year-on-year rise. “The increase in profit is attributed to lower finance costs, incurring forex gain during the period as compared to forex loss in the same period last ...

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• 27 July

  UAE property loans improving

    DUBAI / Reuters The quality of real estate loans in the United Arab Emirates has continued to improve despite sliding home prices, the International Monetary Fund said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago. The quality of loans to households – a ...

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• 27 July

  Empower to participate in WETEX ’16 in Dubai

    DUBAI / WAM As part of its pioneering role in energy, environment and district cooling, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, will participate in the Water, Energy, Technology, and Environment Exhibition (WETEX 2016). To be organised by DEWA under the directives of Vice President and Prime Minister of and Ruler of Dubai, ...

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• 27 July

  Dubai Islamic nets AED2,004mn H1 profit

  

    Dubai / Emirates Business Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, on Wednesday announced its 1st half results for the period ended June 30, 2016. Figures released on Wednesday show that Group net profit increased to AED 2,004 million, up 11% compared with AED ...

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• 27 July

  NBAD earns AED1.376 billion profit in the first half of 2016

  

    Dubai / WAM National Bank of Abu Dhabi (NBAD) reported net profits of AED 1.376 billion for 2Q’16, up 8% sequentially (q-o-q), resulting from improvements in fee income, driven by continued momentum in Global Wholesale strategic flow products as well as Retail & Commercial outpacing the market. Expenses were essentially flat both sequentially and y-o-y as the Bank continued to ...

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• 27 July

  DEWA receives ISO certification for digital information security

    Dubai / Emirates Business The Dubai Electricity and Water Authority (DEWA) received a certificate of commitment towards ISO standard ISO 27037:2012, which provides guidelines for how to deal with digital evidence. DEWA received the ISO certification based on criteria that includes procedures to ensure the safety and reliability of digital evidence by searching, identifying, and documenting the information, and ...

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