00:00Twitter announced today that its revenues had grown by 18% to $787 million for the first
00:09quarter of 2019.
00:11It said, however, that its monthly active users had dropped by around 6 million to 330
00:17million in total.
00:18The company's net profit stood at around $190 million.
00:22Oil has jumped to a six-month high today on the news that the U.S. will be removing any
00:27waivers for the import of Iranian oil.
00:30Brent Crude is approaching $75 a barrel, the highest in 2019, with some analysts believing
00:36it could go up to $80.
00:38The oil cuts come to the market at a challenging time, and the impact of the removal of these
00:42waivers is likely to be felt in India and China, two large importers of Iranian oil.
00:48China criticised the U.S.'s decision, saying that it would add to turmoil in the Middle
00:51East.
00:52Whilst OPEC members have recently made a number of cuts to production, there are some concerns
00:56about how quickly those OPEC and non-OPEC producing countries can fill the void left
01:02in the market by Iran.
01:04The U.S. said in its statement yesterday that the UAE and Saudi Arabia would both support
01:08it in providing additional supplies to fill that void that Iran was leaving.
01:12Dubai Islamic Bank said today that it was considering an acquisition of Norbank.
01:17This will likely lead to the appointment of advisers on the deal.
01:20The DIB also posted its first quarter results today, seeing a 12% increase in net profits.
01:28And lastly, UAE state-owned telco Etisalat released its quarterly results this morning,
01:33seeing a 5% rise in its net profits to 2.2 billion dirhams.
01:38The telco said that it currently has an aggregate subscriber base of 138 million users.
01:44That's all from us today.
01:45You can find the latest headlines on gulfnews.com.
01:47Thanks very much for watching.
01:48We'll be back tomorrow with more news.
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