Emirates NBD, Dubai’s top bank by assets on Wednesday reported a net profit of Dh2.7 billion up 15 per cent year on year and quarter on quarter.
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00:00Hello and welcome to Gulf News Daily Business Wrap-Up.
00:04Banking results in the UAE are looking good, contrary to market expectations.
00:08Emirates NBD, Dubai's biggest bank by asset, reported a 15% increase in net profit.
00:14Net profit rose 15% to be at 2.7 billion dirhams.
00:18Revenues rose by 5% to be at 4.71 billion dirhams.
00:22The bank said that higher than expected profit was because of higher loan growth and steady
00:29profit margin.
00:30Netflix, the streaming company, is on the brink of reaching the subscriber mark to 150
00:35million.
00:36In the quarter to March 31, the company added about 9.6 million subscribers.
00:41Contrary to market expectations, they were expecting about an addition of 9 million subscribers.
00:47Profit rose by 14% to be at $350 million.
00:51World stocks were eyeing a return to its all-time high as better-than-expected Chinese data
00:57eased concerns about the health of the global economy.
01:00Dow Jones Indices was a few hundred points away from its record high.