Author: dailyguardian.ae

In what should be absolutely no surprise to anyone given (a) the state of the streaming industry and (b) that its parent company has already implemented changes with its other services, Hulu today is sending emails to subscribers that notes a change in its subscriber agreement that notes a crackdown on password sharing. The short version is this: “We’re adding limitations on sharing your account outside of your household, and explaining how we may assess your compliance with these limitations.” In other words, if they don’t live with you, they shouldn’t be using your login. The changes went into effect…

Commercial Bank of Dubai (CBD) on Wednesday announced a record net profit of Dh2.65 billion for the year ended December 31, 2023, up 45.2 per cent year-on-year. Outstanding revenue contribution across net interest and other operating income, backed by strong loan growth generated a significant rise in net profit. Notably, higher market interest rates contributed to the increase in revenue. “UAE business activity and business confidence remains positive, supported by strong domestic non-oil business activity, anticipated robust performance across all key economic sectors and further growth in the number of people and businesses migrating to the country,” the bank said…

The Dallas Mavericks (26-21) make their way over to the Target Center to face off against the Minnesota Timberwolves (33-14), who currently have the number one spot in the Western Conference rankings. The issue here is that the Mavs will be there without star players Luka Doncic (right ankle Spain) and Kyrie Irving (right thumb sprain). The Timberwolves are going to be a hard team to beat with or without the pair, as they have players like Karl Anthony Towns putting up an average of 22.6 PPG and Anthony Edwards dropping 27 points in the win over the Oklahoma City…

The UAE insurance market is projected to grow by Dh14 billion by 2028, driven by the non-life segment, according to a new study published on Wednesday. Released by investment banking advisory firm Alpen Capital, the study said the UAE insurance sector will expand at a compound annual growth rate (CAGR) of 4.9 per cent from $14.1 billion (Dh51.7 billion) in 2023 to $17.9 billion (Dh65.7 billion) in 2028. The study projected that the non-life segment is estimated to grow at a CAGR of 5.2 per cent to $14.4 billion in 2028. “This growth is expected to be driven by improving…

Reserve Bank of India (RBI) on Wednesday ordered Paytm Payments Bank to not onboard new customers and also not to undertake further deposits or credit transactions after February 29 this year. In a press release dated March 11, 2022, the Reserve Bank of India, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, had directed Paytm Payments Bank Ltd (PPBL) to stop onboarding new customers with immediate effect. The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further…

Sharjah’s real estate sector recorded a phenomenal 165 per cent jump in investments, driven by a significant surge in non-Arab foreign investors in 2023, data released on Wednesday by the Sharjah Real Estate Registration Department shows. The upswing in investments from 103 nationalities was after a strategic government decision allowing non-citizens and Gulf nationals full ownership rights, the Sharjah Real Estate Registration Department said in a report. The emirate also set a new record with Dh27.1 billion cash trading in 2023, the highest since 2017, recording a 13.1 per cent surge in cash trading volume in 2023. “The diversity of…

The defending champion Denver Nuggets (33-15) are on the road tonight as they square off against a pretty evenly matched Oklahoma City Thunder (32-15) at the Paycom Center. The game will highlight two of the league’s best players on the court: Shai Gilgeous-Alexander, who averages 31.3 PPG (third in the league currently), and Nikola Jokic, who has 26.3 PPG on average. A win the other night over the Bucks got Denver to retain second place in the West, but the Thunder sit calmly behind them by half a game in third place. The NBA regular season is long, but this…

UAE on Wednesday announced another successful mediation for the exchange of prisoners of war between the Russian Federation and the Republic of Ukraine. The Ministry of Foreign Affairs emphasised that the success of the new mediation efforts reflects the global status of the UAE as a trusted partner on the international stage, especially by the Russian Federation and the Republic of Ukraine, which resulted in the release of captives from both sides. The Ministry expressed its appreciation to the Russian Federation and the Republic of Ukraine governments for their cooperation and response to UAE mediation to make the exchange process…

Officers from India’s financial investigation agency arrested a state chief minister Wednesday in an alleged land scam investigation that allies of the detained man said was politically motivated. Hemant Soren, the top elected official of eastern Jharkhand state, was detained by the Enforcement Directorate after hours of questioning. He is accused of money laundering in a case stemming from the alleged illegal sale of public land. Rajesh Thakur, a lawmaker from a party in coalition with Soren’s Jharkhand Mukti Morcha (JMM) party, told AFP the chief minister submitted his resignation to the state’s governor late in the evening. A JMM…

Tecom Group on Wednesday announced a record Dh2.2 billion in revenue, representing a 10 per cent year-on-year (YoY) increase and a 49 per cent YoY increase in net profit to Dh1.1 billion for the financial year ended December 31, 2023. The strong financial performance was driven by robust demand from new and existing customers operating across all six sectors the Group serves, underpinned by Dubai’s resilient economic performance, pro-growth and diversification government initiatives, and bullish consumer and business confidence. Malek Al Malek, chairman of Tecom Group, said, “2023 was a remarkable year for the UAE and Dubai’s economy, supported by…