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The visit was punctuated by the signing of strategic partnerships between the UAE and Indian entities
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Western Union Net Down on Global Economic Slowdown
DUBAI — Western Union Company, one of the world’s leading money transfer companies said on Tuesday its fourth quarter net profit declined 2 per cent from a year ago to $240 million as the weak global economy slowed down remittances.
The company’s full year net profit also slipped 7 per cent from a year earlier to $919 million. Western’s global consolidated revenue went down 1 per cent to $1.3 billion in the fourth quarter while full year revenue rose 8 per cent to $5.3 billion. “Our revenue performance in the quarter was adversely affected by softening demand for money transfers and bill payments in the light of the global economy,” said Christina Gold, president and CEO of
Western
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