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  • Spain’s Barcelona to achieve EUR 1bn in sales

    February 21, 2018 10:18 AM 9

    Mubasher: Spain’s football team FC Barcelona is expected to achieve a total sales of EUR1 billion ($1.2 billion) ahead of schedule due to the increase in income generated from broadcast rights and tickets income, the team’s president Josep Bartomeu told Bloomberg on Wednesday. FC Barcelona’s revenue could surge around 20% to EUR 900 million this season

  • Four GCC nations to introduce VAT within 18M – IMF

    February 21, 2018 10:02 AM 1

    Mubasher: Kuwait, Qatar, Oman and Bahrain need further time to apply the value-added tax (VAT), Abdelhak Senhadji, deputy director of the fiscal affairs department at the International Monetary Fund (IMF), said. The four GCC countries will be technically and politically ready to apply the VAT within around a year and a half, Senhadji added. The IMF is working

  • Orange's sales rise in 2017, but profits fall

    February 21, 2018 9:47 AM 8

    Mubasher: France's Orange on Wednesday posted an increase in its sales for 2017, backed by improvements in Europe, the company said. The company logged EUR 41.09 billion ($50.78 billion) in sales last year, up from EUR 40.92 billion the year before. Despite the slight rise, net profits dropped 35% year-on-year to EUR 1.91 billion. The company attributed

  • Accor Hotels profits rise in 2017 on strong key-market business

    February 21, 2018 8:10 AM 8

    Mubasher: France-based Accor Hotels on Wednesday announced an uptick in net profits for the full year 2017 on the back of strong business from most of its key markets. The hotel group logged a net profit of EUR 441 million ($545 million) in 2017, up from EUR 265 million ($326.37 million) in 2016, backed by strong performance from its units across Asia-Pacific

  • Uber to launch flying taxi by 2027

    February 20, 2018 4:15 PM 10

    Mubasher: Ride-hailing giant Uber on Tuesday announced expects the commercialisation of the company’s air flying taxi service within 5 to 10 years. Speaking at an investor forum in Tokyo, Uber CEO Dara Khosrowshahi said that flying taxi would likely be an affordable means of transportation to the public in the near future. Khosrowshahi’s comments come a year after

  • BHB endorses Bahrain Fintech Bay launch

    February 20, 2018 3:03 PM 11

    Manama, Feb. 20 (BNA): Bahrain Bourse (BHB) has announced the signing of a Memorandum of Understanding (‘MoU’) with Bahrain FinTech Bay (BFB) to endorse the launch of Bahrain Fintech Bay (BFB). CEO of Bahrain Bourse, Shaikh Khalifa Bin Ebrahim Al Khalifa and the Chairman of Bahrain FinTech Bay Maissan Jalal Almaskati signed the agreement. As a Supporting

  • World fails to meet Paris climate change targets, actions insufficient

    February 20, 2018 2:54 PM 10

    Mubasher: Countries all over the world have so far failed to catch up with the climate change pledges they made two years ago in Paris, according to a report by the Washington Post. In 2016, 195 political leaders agreed to reduce the usage of fossil fuels and limit negative effects on environment. However, recent data showed that carbon dioxide emissions

  • AUB profits up 17% in Q4, board propose 23% dividends

    February 20, 2018 2:15 PM 11

    Mubasher: Ahli United Bank (AUB) reported a 17% rise in profits for the fourth quarter of 2017, according to a bourse filing. Quarterly profits reached $150 million in Q4-17, compared to $128.5 million for the same period in the year before. Annual profits also grew by 8.4% to $618.7 million, compared with $570.6 million in 2016. The bank’s board of directors

  • In pictures: US Exhibition paints glow-in-the-dark fish in March

    February 20, 2018 11:54 AM 11

    Mubasher: New York's Museum of Natural History announced holding an exhibition called "Unseen Oceans" to portray underwater bioluminescent creatures. The exhibition is scheduled to open to the public in March, the Associated Press (AP) reported. A floor-to-ceiling installation was made to display hundreds of models of marine species that glow in the dark, using

  • Saudi Arabia to host 1st Arab Fashion Week in March

    February 20, 2018 11:23 AM 11

    Mubasher: Saudi Arabia will host its first ever Arab Fashion Week in March 2018, Arabian Business said, according to a statement by the Arab Fashion Council. The Saudi Crown Prince Mohammed bin Salman has been leading a path to reform the kingdom's dependence on oil, with expansion plans in the private sector in addition to empowering women. Riyadh will welcome