Online games and short video apps have shown a marketed increase in profits due to the coronavirus outbreak.
That's after thousands of Chinese nationals stuck in self-quarantine at home have resorted to them for entertainment.
Weekly downloads for ByteDance's Xigua video app has seen a 77 per cent jump between January 20 and 26, after it announced streaming the premiere of Lost in Russia for free.
Popular health and fitness apps, which livestreams fitness classes, have also seen their revenue surge by 15 per cent for the week, while Pingan Good Doctor saw downloads jump 1,186 per cent.
Investors have also seized on the trend, with shares of Chinese game publisher Tencent showing a 2 per cent jump on Tuesday, while New York, NetEase rose nearly 3 per cent.
US-listed shares in Chinese video platform Bilibili increased, so did shares of search engine Baidu and e-commerce giant Alibaba.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
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Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities!
Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.