Wednesday 21 February 2018
 
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profits

VAT to hurt UAE insurers’ performance in 2018: S&P

The newly introduced VAT in the United Arab Emirates will hurt the operating profits of almost all insurers this year, said leading financial information and analytics provider S&P Global in its latest RatingsDirect report. Th

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UAE banks post profits of $7.8bn in nine months

Banks operating in the UAE posted profits of Dh28.8 billion ($7.8 billion) during the first nine months of 2017, a growth of 8 per cent over the corresponding period last year, said the Governor of the UAE Central Bank. Mubarak Ra

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Profits plummet as MEA hotels return to business as usual

Following a summer of mixed fortunes, which included a welcome year-on-year increase in profit per room in August, hotels in the Middle East & Africa were back to business as usual in September as gross operating profit per available room (G

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Boeing Q3 profits down 19pc; earnings beat expectations

The Boeing Company posted a 19 per cent drop in profit levels for the third quarter, raking in 1.8 billion in Q3 compared to 2.2 billion in the same period in 2016. Boeing's third-quarter revenues stood at $24.3 billion with G

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Top Saudi banks ‘under pressure to protect profits’

Large Saudi banks will protect their profits despite a tough business climate, said Moody’s in a new report, highlighting that lower government could dampen credit demand and weaken corporate and consumer borrowers' ability to repay de

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Bahrain Mumtalakat nets solid profits for fourth year

Bahrain Mumtalakat Holding Company, the investment arm of the kingdom, has registered solid growth for the fourth consecutive year with a net profit of BD68.9 million ($183.2 million) over the previous year's BD28.7 million ($76.3 million).

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65 Abu Dhabi-listed firms post Q1 profit over $3.25bn

Profits of 65 domestic and foreign companies listed on Abu Dhabi Securities Exchange (ADX) have reached Dh12 billion ($3.26 billion) in the first quarter (Q1) of 2017, growing by 19 per cent, compared with Dh10.4 billion in Q1 2016, a report sai

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Global airlines' profits to top $29bn in 2017 on high oil prices

The global airline industry is expected to make a net profit in 2017 of $29.8 billion, representing a 4.1 per cent net profit margin and total revenues of $736 billion, said the International Air Transport Association (Iata). This

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Shell, BP results improve from cost cuts amid low oil

Royal Dutch Shell and BP posted better-than-expected third-quarter profits, making progress with efforts to stabilise profits even during a quarter when oil prices averaged less than $46 a barrel, a report said. Shell returned to

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Lufthansa targets profit growth as strong start cushions slump

Deutsche Lufthansa stuck to its forecast for higher earnings this year as a strong start to 2016 will help the German carrier offset a series of headwinds to travel demand, said a report. “The guidance remains what it is,&rd

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