Search Site

Trends banner

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Emirates NBD profit up 18 percent

Emirates REIT records strong FY 2022 results with net profit up 30% year-on-year.
  • The bank said the total income was up 3 percent year on year to AED 6.4 billion on improved loan mix and cheaper deposits.
  • The bank’s total assets rose 1 percent to AED 694 billion despite the Turkish Lira depreciation, it said.

Emirates NBD has posted its highest quarterly profit since 2019, recording an 18 percent jump to reach AED 2.7 billion ($735 million) on record retail lending, deposit growth and customer transactions.

In a statement, the bank said the total income was up 3 percent year on year to AED 6.4 billion on improved loan mix and cheaper deposits with initial signs of higher rates starting to feed through to margins.

The bank’s total assets rose 1 percent to AED 694 billion despite the Turkish Lira depreciation, it said.

Customer loans were up 1 percent at AED 425 billion and the highest ever CASA balance, increasing by AED 18 billion in Q1-22, positioning the Group very well for rising interest rates, the statement added.

The bank said it played a leading role in the DEWA IPO, delivering customers a fully digital platform enabling a seamless, paperless journey from on-boarding and subscription through to payment.