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Abu Dhabi / WAM Abu Dhabi Commercial Bank PJSC released its Q1-2019 financial results, reporting strong operating performance underpinned by robust growth in gross interest and Islamic financing income and non-interest income. In a statement, the bank said its results are for the standalone ADCB entity for the first quarter of 2019, prior to the merger with Union National Bank ...

Sharjah / WAM Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, LCC, announced on Tuesday the launch of a direct flight from Sharjah to Tunis, Tunisia’s capital city starting July 4. The new flight will operate three times a week; on Tuesdays, Thursdays and Saturdays. The flights depart Sharjah International Airport at 15:30 hours local ...

Bloomberg In a war for the control of India’s billion-plus mobile-services market, tycoon Sunil Mittal seems to be floundering in the face of a juggernaut unleashed by Mukesh Ambani. For at least a fourth quarter in a row, Mittal’s Bharti Airtel Ltd shored up its profits with one-time gains, masking headwinds posed by upstart Reliance Jio Infocomm Ltd. Jio’s roll-out, ...

Bloomberg Singapore’s mobile phone carriers are being asked to take a step towards introducing fifth-generation (5G) wireless services as early as next year as the government plans to allocate spectrum for at least two networks. The city-state’s telecom regulator will request proposals from the companies, which include Singapore Telecommunications Ltd and StarHub Ltd, later this year, the Infocomm Media Development ...

Bloomberg The Canadian government is likely to proceed with expansion of the Trans Mountain oil pipeline when it announces its decision next month, officials familiar with the matter say. The government has made no secret about its interest in finding a way to expand the conduit, but has tiptoed around the matter to avoid opening any decision up to legal ...

Bloomberg BMW AG’s automotive division swung to a loss for the first time in a decade as car prices slumped and a legal provision over alleged collusion ballooned to 1.4 billion euros ($1.6 billion). Excluding the set-aside, earnings at the carmaker’s main unit fell by 42 percent to 1.1 billion euros in the first quarter. Price competition in some markets ...

Bloomberg More cargo from Mexico to the US is being held up at the border, accompanied by increasing evidence that such delays are dimming prospects for American companies. Slower trade between the countries since federal border officers were recently redirected to deal with a surge in migrants has been socking businesses with additional shipping costs. The effects will likely cause ...

Bloomberg The weapons North Korea launched travelled into the stratosphere and flew at a distance long enough to strike deep into South Korean territory, according to a South Korean assessment. South Korea’s Joint Chiefs of Staff did not indicate what was fired off of North Korea’s east coast and into the sea, but experts believe at least one ballistic missile ...

Abu Dhabi / Emirates Business Abu Dhabi Ports signed a Memorandum of Understanding (MoU) with Dell Technologies that will see the organisations combine their expertise in maritime and IT to develop technology-based concepts, solutions and services specifically for the maritime industry. The MoU with Dell Technologies is designed to provide Abu Dhabi Ports with consulting services and help them leverage ...

Dubai / Emirates Business Dubai Science Park (DSP), a holistic science-focused community that provides support and a business-friendly ecosystem for entrepreneurs, SMEs and international companies active in sciences, energy and environment sectors, signed a partnership agreement with 1792 Partners, a global advisory and venture firm focused on bridging the gap between health technology innovators in UAE and US. The memorandum ...