Air Arabia (PJSC) announced strong financial results for the first half ending June 30, 2018 as the Middle East and North Africa’s first and largest low-cost carrier continued to deliver solid and sustained financial performance. Air Arabia reported a net profit of AED 230 million for the first half ending June 30, 2018; a 12 per cent less than the AED 261 million reported for the same period last year. The company’s turnover for the first six months of 2018 reached AED 1.816 billion, an increase of 6 per cent compared to AED 1.716 billion in the corresponding period last year. Air Arabia’s strong profits are registered despite the economic pressure that airlines have witnessed in the second quarter of this year, which was driven by lower yield margins, higher fuel prices and seasonality shift in traffic that the market has experienced.

Standard & Poor’s has recently reaffirmed Sharjah’s positive BBB + / A-2 sovereign credit ratings over the long and short terms, according to Sharjah Government Media Bureau. The Emirate's positive ratings are driven by its strong financial position and low-risk exposure, the agency said. In a statement, S&P said that it expected the Emirate's economy to grow 2 percent between 2018 and 2021, and expected GDP growth to accelerate in 2018 based on the growth of business in the real estate and construction sectors.

The types of bank accounts are, in essence, an accounting record opened by the client with a certain banking institution. This process is arranged through a contract between the parties to preserve their respective rights and obligations according to applicable rules, customs and procedures.

The Holy Month of Ramadan is upon us. It's regarded as the holiest month of the year for Muslims as it was the month in which the Quran was revealed to the Prophet Muhammad (PBUH). The annual observance of Ramadan is one of the 'Five Pillars of Islam' and it is the ninth month of the Hijri (Islamic) calendar.
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