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The two largest banks in Dubai - Emirates NBD and Dubai Islamic Bank - in the second quarter increased their net profit due to increased activity in the construction industry of the emirate, which contributed to increased lending. Emirates NBD increased its figure by 30% year-on-year to 2 billion 630 million dirhams. The net interest margin increased to 2.78% from 2.41%. The volume of deposits in the first half of the year increased by 3%, loans - by 4%. The net profit of Dubai Islamic Bank grew by 14% year-on-year to 1 billion 210 million dirhams. The bank increased the volume of deposits in the first half of the year by 3%, loans - by 6%. The indicators of both banks have surpassed the forecasts of analysts.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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