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Dubai / Emirates Business Oman Insurance Company posted a turnaround net profit of AED190.5 million in 2019, making it one of the best performing years. This was achieved due to the forward-looking strategies defined in 2018 and with placing primary focus on customer satisfaction. Despite the challenging environment, with downward pressure on prices and, more than ever, the collection of ...

Abu Dhabi / WAM Under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered for the exemption of 429 retired citizens from the repayment of housing loans in Abu Dhabi, with a total ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received Kyriakos Mitsotakis, Prime Minister of Greece, who is visiting the UAE. At the start of the meeting, His Highness welcomed the visit of the Greek Prime Minister, saying it was an important ...

Abu Dhabi / Emirates Business In a multi-year partnership, Etisalat announced that it has teamed up with Microsoft to drive public cloud first strategy through a digital transformation program that enables Etisalat to build a digital platform infused with automation and AI providing a simplified network architecture and operations empowering Etisalat subscribers and improving customer experience. “Today, Etisalat and Microsoft ...

Bloomberg Two sweeping goals have dictated the direction of China’s economic policy during President Xi Jinping’s presidency: Doubling per-person GDP and household incomes over the 10 years ending this December and containing an explosion in debt. Tiptoeing between the two conflicting ambitions hasn’t been easy, especially last year as the trade war with the US deepened. Yet policy restraint held ...

Bloomberg China’s car sales are likely to slump the most on record in the first two months of 2020 as the coronavirus keeps buyers away from showrooms, intensifying headwinds for automakers in the world’s biggest market. Sales are set to fall by 25% to 30% in the January-February period, according to a preliminary forecast by Cui Dongshu, secretary general of ...

Bloomberg Hyundai Motor Co is halting production in South Korea this week because of a component shortage caused by the coronavirus, the first global automaker to suspend output outside China because of the outbreak. The carmaker has been hit by a shortage of a wiring component made at a South Korean supplier’s plant in China, which has been halted after ...

Bloomberg India’s gold imports tumbled by half in January as record domestic prices and a slowdown in economic growth curbed demand in the world’s second-biggest buyer. Imports fell to 21.7 tons last month from 45.9 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Finance Ministry ...

Bloomberg Sony Corp raised its profit forecast for the second time this fiscal year, boosted by strong demand for the image sensors that power smartphone cameras. Operating income will probably reach 880 billion yen ($8.1 billion) in the year ending on March 31, compared with the 840 billion yen Sony forecast in October and the 877 billion yen average of ...

Bloomberg India is looking to overseas funds to rescue its battered bond market, but relief may be slow to come. A move to allow global funds to buy more government and corporate debt is unlikely to reverse sentiment hurt by record bond sales and shrinking returns, investors say. “High bond supply means potential pressure on bond prices, so easier access ...