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Business News
UAE’s port operator DP World posts 10% rise in profits to $1.29 billion in 2018 amid China-US trade war
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Dubai: DP World, the Dubai-based ports operator, reported on Thursday a 10.2 per cent jump in its net profit for 2018 as revenues grew, driven by acquisitions of other companies. The company recorded $1.3 billion (Dh4.77 billion) in profit for the year attributable to owners after separately disclosed items, compared to $1.18 billion in 2017. […]
Hong Kong. International banks including UBS Group AG and Morgan Stanley agreed to pay a combined HK$787 million ($100 million) to settle cases brought by Hong Kong authorities relating to their work on initial public offerings in the city. Bank of America Corp. and Standard Chartered Plc were also fined, the Securities and Futures Commission […]
DUBAI, ABU DHABI: Mubadala has suspended any new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the US bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB. “We have suspended any activities with Goldman Sachs pending outcome of the litigation,” Brian Lott, spokesman […]
Dubai: DP World said on Thursday it is likely to start using the fourth terminal at its flagship Jebel Ali port in the second half of 2019, after utilisation of the terminal was delayed due to a softening market. The ports operator said the terminal is essentially ready for operations and has more cost efficiencies […]
Frankfurt. Deutsche Lufthansa AG cut its growth plans after a slide in fares and higher fuel costs weighed on 2018 earnings. The stock fell the most in 3 1/2 months on Thursday after the German carrier said it will slow capacity increases to 1.9 per cent this summer from the 3.8 per cent previously planned […]