Emaar pulls in $1.43bn profit in 2016 DUBAl: The developer of the world`s tallestbuilding says its profit rose to $1.43 billion last year as it saw a boost in property sales and opened a new opera house in its Dubai home.

Emaar Properties posted its full-year earnings on Tuesday, marking a 28 per cent increase over its $1.11bn earnings in 2015. Sales rose 14pc to $4.23 bn in 2016.

Emaar is the company behind Dubai`s Burj Khalifa, the world`s tallest tower. It also developed the massive Dubai Mall and the Dubai Opera, which opened last year.

It said last week that it would collect $332.4 million from its insurer to cover damage from a 2015 New Year`s Eve fire at one of its Dubai hotels, The Address Downtown. The hotel remains under repair.-AP| Tata Motors profits plummet 96pc I MUMBAl: India`s largest carmaker Tata Motorson Tuesday reported a 96 per cent fall in quarterly profits, due to a cash ban which hit domestic business and weak sales at its luxury Jaguar Land Rover unit.

Consolidated net profit for the three months ending December fell to 1.12 billion rupees ($16.73 million) from 29.53bn rupees a year earlier, the Mumbai-based company said.

Revenue fell 4.3pc to 685.41bn rupees.

The company`s commercial vehicles business saw a `demand shrinkage` owing to the Indian government`s shock move in November to withdraw high-value banknotes from circulation, it said.-AFPRolls-Royce logs record $5bn loss LONDON: British engine maker Rolls-Royceslumped into a record 4-billion annual net loss in 2016, ravaged by a Brexit-fuelled collapse in the pound and a corruption fine.

The loss after tax, equivalent to $5bn or 4.8bn euros, contrasted with a slender profit of 84 million in the 2015, the company said in a results statement.

Rolls took a vast 4.4bn hit from the drop in the value of the pound in the wake of Britain`s shock EU exit referendum, alongside a 671-million penalty to settle bribery allegations.

The London-listed company, whose engines are used in Airbus and Boeing aircraft, added that underlying pre-tax profits almost halved to 813 million.-AFP