00:00Hello and welcome to Gulf News Daily Business Wrap-up.
00:04This is Hudesh and I'll take your stories that are making headlines today.
00:08There's some good news for potential iPhone buyers.
00:10Yes, Apple plans to cut its prices of iPhones for the second time since 2007.
00:16This is basically to stem the falling sales in iPhone because of higher prices.
00:24Because of a stronger dollar, iPhones are pricier compared to its rivals.
00:28Now on the P&L side, that is profit or loss side, iPhone has made lower than expected
00:34revenues.
00:35Yes, revenues fell by 5% to more than $80.5 billion.
00:41Revenues on the other hand from services such as iTunes or Apple TV rose to an all-time
00:47high of more than $10 billion.
00:50Revenues from Mac and other services like home accessories etc. also reached an all-time
00:56high and registered a 10% growth compared to last year.
01:01In other news, we are following the results of Dubai Islamic Bank.
01:05Dubai Islamic Bank came out with a strong set of numbers registering an 11% rise in
01:10net profit in 2018.
01:13The net profits were at 5 billion dirhams.
01:17Remember that the company also gave out a dividend of 35% to its shareholders.
01:22That's it from me and thanks for watching.
01:23For more, you can log on to gulfnews.com slash business.
01:26I'll see you in the next video.
01:27Take care.
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