Author: News Desk

JPMorgan Chase & Co reported a bigger-than-expected 28% fall in quarterly profit and suspended share buybacks on Thursday, as America’s largest bank set aside more money to cover potential losses in the face of growing risks of a recession. Chief Executive Jamie Dimon stressed the need to build capital reserves, while flagging a number of concerns including the war in Ukraine, high inflation and the “never-before-seen” quantitative tightening as threats to global economic growth. Closer home, however, the economy continues to grow and both the job market and consumer spending remain healthy, Dimon said. JPMorgan’s shares slid more than 4%…

Dengue fever cases in Vietnam so far this year have more than doubled compared to the same period in 2021, the health ministry said on Thursday, warning its hospitals to brace for more infections. Dengue is a mosquito-borne disease common in Southeast Asia that causes flu-like symptoms and no vaccine is available. Severe forms of it can result in internal bleeding, according to Reuters. Vietnam recorded 89,120 dengue cases in the first six months, up from 35,936 a year earlier, an increase of 148%. Deaths tripled to 34 over the same period. The country of 98 million people has typically…

Expats in the UAE believe that moving to the country has improved their career prospects and widened job opportunities, ranking the Emirates first in the world. Moreover, UAE has been ranked among the world’s top 10 best countries to live and work for expatriates. According to the InterNations’ Expat Insider 2022 survey, released on Tuesday, UAE ranks 6th out of 52 countries while 71 per cent of expats are happy with their life in the UAE, the same as the global average. Around 85 per cent of people say that it is easy to live in the UAE without speaking…

iPhone maker Apple has listed a number of openings at its UAE offices in different departments including retail, marketing and software and services. Apple is currently operating four outlets in Dubai and Abu Dhabi. Interested candidates can apply through Apple’s career portal. Below is the list of jobs and requirements: Operations expert: Ability to think quickly and perform problem-solving tasks; and leadership skills, whether guiding by example or coaching a group Technical specialist: Ability to assess customers’ support needs when they arrive, then provide solutions or refer them to other team members; the flexibility to regularly rotate through different technical…

French officials head to Niger on Friday to redefine the country’s strategy to fight Islamist militants in the Sahel as thousands of troops complete a withdrawal from Mali and concerns mount over the growing threat to coastal West African states. Coups in Mali, Chad and Burkina Faso have weakened France’s alliances in its former colonies and emboldened jihadists who control large swathes of desert and scrubland. Concerns have grown that the exit of 2,400 French troops from Mali – the epicentre of violence in the Sahel region and strongholds of both Al Qaeda and Islamic State affiliates – is worsening…

King Salman Humanitarian Aid and Relief Center (KSrelief) distributed 200 animal sacrifices to patients with kidney failure, orphans and patients with chronic diseases in the Yemeni directorates of Mansoura, Sheikh Othman and Dar Saad in Aden governorate, benefiting 2,800 people, as part of the sacrifice project in Yemen for Eid al-Adha 1443 Hijri (2022). The project aims to help needy displaced families during Eid al-Adha, by distributing sacrificial meat in the amount of half a sacrifice for each family, benefiting 4,000 families, by 28,000 people, in the governorates of Aden, Hadhramaut, Mahra and Marib. KSrelief also distributed 550 sacrifices in Somalia,…

A U.S. destroyer sailed near the disputed Paracel Islands in the South China Sea on Wednesday, drawing an angry reaction from Beijing, which said its military had “driven away” the ship after it illegally entered territorial waters. The United States regularly carries out what it calls Freedom of Navigation Operations in the South China Sea challenging what it says are restrictions on innocent passage imposed by China and other claimants. Monday marked the sixth anniversary of a ruling by an international tribunal that invalidated China’s sweeping claims to the South China Sea, a conduit for about $3 trillion worth of…

Ukraine said on Wednesday that a deal to resume grain exports blocked by Russia appeared very close as four-way talks prepared to resume, raising hopes of an end to a standoff that has exposed millions to the risk of starvation. More than 20 million tonnes of Ukrainian grain are stuck in silos at the Black Sea port of Odesa and dozens of ships have been stranded due to Russia’s blockade, part of what Moscow calls its “special military operation” in Ukraine but which Kyiv and the West say is an unjustified war of aggression. Ukrainian Foreign Minister Dmytro Kuleba told…

The U.S. securities regulator is expected on Wednesday to rescind rules introduced under former U.S. President Donald Trump that critics said impeded the independence of firms that advise investors on how to vote in corporate elections. The rule change is the latest installment in a long-running battle over how to regulate “proxy” advisers like Institutional Shareholder Services and Glass Lewis, which advise investors how to cast their ballot on issues including the election of directors, merger transactions and shareholder proposals. Corporations say these companies have amassed too much sway over corporate elections and should be more tightly regulated. In 2020,…

China’s exports rose at their fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a slowdown in imports, fresh virus flare-ups and a darkening global backdrop pointed to a bumpy road ahead for the economy. Analysts say the rebound in exports reflects the easing of supply chain disruptions and port congestion that hammered the economy in spring when the government rolled out widespread lockdowns. Outbound shipments in June rose 17.9% from a year earlier, the fastest growth since January, official customs data showed on Wednesday, compared with a 16.9% gain seen…