EBRD increases financial support to Ukraine by $106 million

Focus on the United Arab Emirates: Emirates Mars mission discovers aurora; FAB Announces Highest Quarterly Net Profit Ever; Dubai ranks third best country to work in

DUBAI (Reuters) – The United Arab Emirates’ Mars mission, known as EMM, has discovered a mysterious aurora in Mars’ atmosphere that is opening up new avenues of exploration, the United Arab Emirates news agency reported on Wednesday. Emirates WAM.

The First Arab Interplanetary Exploration has released images of faint auroras on Mars, following a series of observations. It should provide new information on the interactions between the atmosphere of Mars, its magnetic field and the solar wind of the planet.

“When we first imagined the discrete auroras of Mars shortly after the Hope probe arrived on Mars in 2021, we knew we had unveiled new potential for making observations never before possible at this scale, and we made the decision to focus more on these auroras,” EMM chief scientist Hessa Al-Matroushi said in a statement.

These images were taken when Mars experienced a solar storm, causing a faster and more turbulent flow of electrons from the solar wind than usual. As a result, these aurora sightings are among the brightest and most extensive to date, WAM reported.

With the launch of its first Mars mission last year, the United Arab Emirates entered the space race.

Five years after the establishment of its space agency, the United Arab Emirates has sent its first astronaut to the International Space Station, WAM added.

FAB reports record quarterly profit of $1.4 billion

The UAE’s biggest lender posted a net profit of 5.1 billion dirhams ($1.4 billion) in the first quarter. (Shutterstock)

First Abu Dhabi Bank reported its highest-ever quarterly net profit on Thursday following a sale of a majority stake in its payments business, Reuters reported.

The UAE’s biggest lender posted a net profit of 5.1 billion dirhams ($1.4 billion) in the first quarter, up 107% from the 2.5 billion dirhams reported for the same period last year, according to a stock market record.

The company’s total quarterly revenue was 7.3 billion dirhams, including the 2.8 billion gain from the sale of Magnati’s stake, Reuters added.

The group’s chief financial officer, James Burdett, told Reuters that growth accelerated across all business segments in the quarter and the group’s loans were up 6% year-to-date.

Dubai ranks among the best places to work

Dubai was ranked third in the world in terms of city to live for digital nomads. (Shutterstock)

Dubai has been ranked third in the world in terms of where to live for digital nomads, according to new research from real estate consultancy Savills.

Helen Tatham, residential community sales and leasing manager at Savills Dubai, said in a statement that “remote working has enabled foreign business owners to make Dubai their primary hub.”

He added that “British nationals have long favored Dubai for holidays and work, but the market has also benefited from new demand from French, German, Swedish and Swiss buyers.”

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