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DUBAI / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has announced a record net profit of AED410 million in H1 2019, notching up a 29 percent increase over the first six months of last year and an 11 percent increase on the 2017 full-year net profit. Noor Bank’s revenue rose by seven per cent ...

Bloomberg The US-China trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners. Brent crude will likely remain in a range of $60 to $70 a barrel and could fall towards $60 if demand worsens, said Mukesh Kumar Sura-na, the chairman ...

Bloomberg Apple Inc has asked the Trump administration to exclude components that make up the forthcoming Mac Pro high-end desktop computer from import tariffs, weeks after planning to re-locate production of the line to China from Texas. The Cupertino, California-based technology giant is seeking relief from duties of 25 percent on key Mac Pro parts and accessories that go with ...

Bloomberg A group of Uber Technologies Inc. drivers lost a London lawsuit where they said a new fee to operate in the city centre amounts to race discrimination. The drivers said London Mayor Sadiq Khan’s demand that they pay a congestion charge was unfair because it didn’t apply to the capital’s traditional black cabs. Most cab drivers are white, while ...

Bloomberg Thyssenkrupp AG Chief Executive Officer Guido Kerkhoff is facing mounting internal pressure to whittle down and restructure the company’s sprawling business portfolio as the supervisory board grows impatient at the slow pace of change at the crisis-hit conglomerate. Supervisory board members of the Essen, Germany-based engineering company are increasingly frustrated at the pace and depth of restructuring efforts for ...

Bloomberg Peugeot maker PSA Group’s profit margin widened to a record in the first half of the year as the French carmaker cut costs and used the sale of more expensive models as antidotes to the deepening slump in the global auto industry. The company that also makes Citroen cars reported a first-half recurring operating margin of 8.7 percent at ...

Bloomberg Amazon.com, landlords who charge sky-high rents, brands that fail to adapt. The carnage in the retail industry has been blamed on all of them. Now Wall Street is being blamed too. Over the past decade, 597,000 US employees working for retailers owned by private equity (PE) firms and hedge funds have lost their jobs, while the sector as a ...

Bloomberg China accused the US of undermining global stability, as the country released its first defense white paper since Chinese President Xi Jinping initiated a sweeping military overhaul in 2015. The paper titled “China’s National Defense in the New Era” — in a reference to a key Xi slogan — said that the US had provoked competition among major countries. ...

Bloomberg The chaos in Libya, where strongman Khalifa Haftar has vowed to capture the capital from the internationally recognised government, is threatening to further destabilise its West African neighbours, Niger’s interior minister said. Several countries in the Sahel, a semi-arid region on the southern fringe of the Sahara desert, are already struggling to cope with extremist violence and a surge ...

Bloomberg Russian police detained opposition leader Alexei Navalny as a standoff intensified over the authorities’ decision to bar prominent anti-government candidates from September elections in Moscow. Navalny has called for another major rally in front of the mayor’s office after he addressed the biggest protest in three years in the Russian capital on July 20, attended by more than 20,000 ...