Q3 profit up 5.7% for Etisalat
22 Oct 2020UAE-based telecoms group Etisalat has posted revenues of AED13.0 billion (USD3.5 billion) for the third quarter of 2020, up from AED12.9 billion in the year-ago period. Sales in its domestic market fell 3% year-on-year to AED7.5 billion. Consolidated EBITDA was up 2% to AED6.9 billion, while group profit rose 5.7% to AED2.4 billion. Etisalat claimed 12.1 million subscribers in the UAE at the end of September, while the group as a whole served 149 million customers across the Middle East, Africa and Asia.© 2002-2020 PriMetrica, Inc. All Rights Reserved.Provided by SyndiGate Media Inc...
Wells Fargo posts $2 billion profit in the third quarter as layoffs begin
Wells Fargo returned to profitability in the third quarter, posting net income of $2 billion for the third quarter as management begins to restructure the bank and cut billions in expenses.It’s a rapid reversal from the second quarter, when the bank lost $2.4 billion, which was its first recorded quarterly loss since the financial crisis. The return to profit, though, was not as sharp as Wall Street analysts anticipated, and shares fell 4.5% in early trading.Overall revenue at the San Francisco-based bank fell to $18.9 billion from $22 billion in the second quarter, according to its Wednesday ...
The Charlotte Observer
U.S. Bancorp profit falls 17% due to low interest rates, slumping economy
U.S. Bancorp’s profit dropped 17% in the third quarter as it set aside another $635 million for possible loan defaults due to economic challenges from the coronavirus pandemic.The provision would also cover expected losses from a credit card portfolio it acquired from State Farm, the company said.But the special charge was smaller than the $1.7 billion it set aside in the previous quarter, a sign that the parent of U.S. Bank sees economic conditions improving.Its net income in the third quarter was $1.58 billion, or 99 cents a share, compared to $1.91 billion in the same quarter a year ago. Th...
Star Tribune (Minneapolis)
Union Propertiesreported Dh348.8 million profit for the first nine months of 2020
Dubai: Union Properties, the Dubai developer, has swung back into profits, reporting Dh348.8 million for the first nine months of 2020. Its third quarter net was Dh509.2 million, brought on by strategic divestments of its portfolio.In the process, it has also brought down accumulated losses below the critical 50 per cent mark to 41.8 per cent. With the profits being struck, the company has “cleared all losses for 2019 as well as for the first and second quarter of 2020.”As of end September 2020, current asset base of Union Properties is Dh6.2billionIt was recently that Union Properties confirm...
BTC/USD Forex Signal: Bullish Breakout - 12 October 2020
[CAD:EN - 2 - Top BTC/USD Broker]Last Thursday’s signals were not triggered as there was no bearish price action at any of the resistance levels which were hit last Thursday.Today’s BTC/USD SignalsRisk 0.50% per trade.Trades must be entered before 5 pm Tokyo time Tuesday.Long Trade IdeasGo long after a bullish price action reversal on the H1 time frame following the next touch of $11,185 or $11,023. [Place ](the stop loss $50 below the local swing low.Move the stop loss to break even once the trade is $50 in profit by price.[Take off ](50% of the position as profit when the trade is $50 in pro...
BTC/USD Forex Signal: More Bearish - 07 October 2020
Yesterday’s signals were not triggered as there was no bullish price action when the support level identified at $10,641 was first reached.Today’s BTC/USD SignalsRisk 0.50% per trade.Trades must be entered prior to 5 pm Tokyo time Thursday.Long Trade IdeasGo long after a bullish price action reversal on the H1 time frame following the next touch of $10,421 or $10,351. [Put ](the stop loss $50 below the local swing low.Move the stop loss to break even once the trade is $50 in profit by price.[Take off ](50% of the position as profit when the trade is $50 in profit by price and leave the remaind...
BTC/USD Forex Signal: Ranging - 05 October 2020
Last Thursday’s signals were not triggered, as the bullish price action at the support level of $10,421 printed too slowly to generate a long trade entry signal.Today’s BTC/USD SignalsRisk 0.50% per trade.Trades must be entered prior to 5 pm Tokyo time Tuesday.Long Trade IdeasGo long after a bullish price action reversal on the H1 time frame following the next touch of $10,421 or $10,351. [Put ](the stop loss $50 below the local swing low.Move the stop loss to break even once the trade is $50 in profit by price.[Take off ](50% of the position as profit when the trade is $50 in profit by price ...
Clothing retailer H&M sees lower Q3 profit and sales over virus
Swedish clothing retailer Hennes & Mauritz (H&M) said its third-quarter net profit halved amid weaker sales and temporary store closures during the coronavirus pandemic.The net profit of 1.8 billion kronor (201 million dollars), compared to a net profit of 3.8 billion kronor a year ago.Quarterly sales in the June-to-August period fell to 50.8 billion kronor.Sales - measured in local currencies - decreased by 16 per cent, the company said on Thursday.In top markets such as Germany they fell 10 per cent in the quarter, in the United States the drop was 34 per cent, while in China they fell 16 pe...
Shareholders profit from Siemens Energy spin-off on German exchange
Siemens Energy saw its share price fall slightly during trading on the Frankfurt stock exchange on Monday, the first day after being spun off from German industrial giant Siemens.But Siemens itself rose a full 9 per cent on the day to close at 109.96 euros (128.19 dollars), implying a significant profit for shareholders, who were all allocated Siemens Energy shares.The current share price would value Siemens Energy, which employs some 90,000 people, at more than 15 billion euros.After starting at a price of 22.01 euros, its shares dipped below 20 euros before rising to around 23 euros and clos...
Hellenic Bank posts net profit of €17.7 million in H1 2020
Hellenic Bank, Cyprus` second largest lender posted a net profit of €17.7 million in the first half of 2020, amid the coronavirus pandemic, compared with a net profit of €58.3 million in the respective period of 2019.Following the €2.2 million net loss in the first quarter of 2020, the bank posted a profit of €20 million in Q2 while increasing its capital with CET1 ratio at 19.75% compared with 19.22% in Q1 and its capital adequacy ratio to 22.2% in Q2 from 21.7% in Q1.Total provision charge for the fist half of 2020 amounted to €42.4 million of which €38 million associated with the impact of ...
Cyprus News Agency