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Abu Dhabi / WAM   Madyar Menelikov, ambassador of Kazakhstan to the UAE, said that the UAE is one of Kazakhstan’s main trading partners in the Middle East, and the volume of trade exchange between the two countries during the past year amounted to $907 million. The announcement came during a ceremony on the occasion of Kazakhstan National Day. During the ...

Dubai  / WAM    Tecom group PJSC  the creator of specialised business districts and vibrant communities, on Wednesday announced its financial results for the third quarter of 2022 and first nine months ending September 30. The group’s revenue stood at AED490 million, increasing 12.48% year-on-year (y-o-y) driven by rising occupancy levels across the portfolio, especially office, warehouse, and worker accommodation. Ebitda ...

Abu Dhabi / WAM  First Abu Dhabi Bank (FAB) on Wednesday announced that the group’s net profit amounted to AED10.9 billion in the first nine months of 2022, an increase of 19% compared to the same period last year with annualised earnings per share at AED1.29. In a statement on Wednesday, the bank said that the total income reached AED18 ...

Dubai / WAM  His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE and Egypt will begin another 50 years of solid and deep-rooted relations and joint efforts, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi, President of ...

Abu Dhabi / WAM The Federal Tax Authority (FTA) has announced it will be discontinuing the use of the e-Dirham system in paying taxes as of next Sunday, October 30, replacing it with Magnati, the smart payment option from First Abu Dhabi Bank (FAB). Magnati provides advanced software solutions for online payments, using next-generation advanced technologies to provide a seamless ...

Sharjah / WAM The Sharjah National Day Celebrations Committee on Wednesday announced its activities’ agenda for celebrating the UAE’s 51st National Day. Events will take place across Sharjah’s cities and key tourist and cultural destinations from November 24 to December 3, shedding light on the country’s achievements, history, and heritage for a whole month. Heading towards its centenary after celebrating ...

L’Oreal SA said there are signs that shoppers are trading down to cheaper skincare products in fresh evidence that soaring inflation is eroding household budgets. The change in consumer behaviour is most pronounced in the UK “where the inflation is the highest,” with trading down affecting the skincare category there but not haircare nor fragrance, said Chief Executive Officer Nicolas ...

Some bondholders of Hong Kong Airlines are seeking to block a $6.2 billion debt restructuring plan, which they say treats them unfavorably compared with the company’s owner and its affiliates. The ad-hoc group, representing some holders of perpetual notes and advised by law firm Allen & Overy, will vote down a proposal to reduce the debt of the embattled carrier ...

After ending its partnership with Ye’s Yeezy label last month, Gap Inc. is now pulling all remaining Yeezy Gap products from its stores and online after the rapper and designer made antisemitic remarks. In a statement, Gap said it would take immediate steps to remove Yeezy Gap items and shut down e-commerce site YeezyGap.com. It now redirects to Gap.com. Last ...

Air Canada agreed to expand a plane order from Airbus SE as the carrier looks to enlarge bits fleet amid the post-Covid rebound in air travel. The carrier said it’s adding 15 A220-300 jets by converting options into firm orders, according to a statement that confirmed an earlier report by Bloomberg News. The order follows a deal closed in 2016 ...