Bloomberg Internet stocks, food delivery companies and online retailers are paying a heavy price for any earnings disappointment. Companies from Asos Plc to Zalando SE and Logitech International SA have all suffered steep stock-market losses in Europe after their results in the past month. It’s a fact that makes companies with sky-high valuations look increasingly volatile, and shows that investors ...

Bloomberg European stocks closed steady at a record, posting their biggest weekly gain in five months, as traders assessed a better-than-expected increase in US payrolls and positive earnings against delta variant risks. The Stoxx 600 Europe Index ended flat in London at a historical high, bringing the week’s gain to 1.8%. Banks were the best performers, with ING Groep NV ...

Bloomberg Kenya’s shilling is on track for its longest stretch of weekly losses this year, despite the central bank’s efforts to prop up the currency, as concerns about a surge in Covid-19 infections spurred dollar buying by importers. The East African nation’s currency was trading little changed at 108.72 against the dollar by 9:30 am in the capital, Nairobi, poised ...

ABU DHABI / WAM Emirates Steel, the leading integrated steel plant in the Middle East, strives to maximise its contribution to the UAE’s downstream industries, providing this vital sector with 90 percent of its needs from high-quality and wire rods and heavy sections products. This is part of its effort to support and promote the UAE’s Unified Industrial Brand Identity ...

ABU DHABI / WAM Dumat Al Jandal, the Middle East’s largest wind farm and the first in the Kingdom of Saudi Arabia, is now connected to the grid and has produced its first carbon-free megawatt-hours (MWh) of energy. The 400-megawatt (MW) utility-scale wind power project is being developed by a consortium led by EDF Renewables and Masdar, two of the ...

TEHRAN / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, met with Iran’s President elect, Ebrahim Raisi, during a UAE delegation’s visit to Tehran. Sheikh Nahyan conveyed greetings of President HH Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and HH Sheikh Mohamed ...

DUBAI / WAM Dubai showed quick recovery from the repercussions of Covid-19 in different economic sectors thanks to the resilient strategies and plans the emirate followed in the face of the pandemic, and the dynamic and wise initiatives directed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The trade sector continued ...

ABU DHABI / WAM Abu Dhabi Ports on Saturday announced that it has embarked on a wide-ranging network service upgrade across ZonesCorp, part of the Industrial Cities & Free Zone Cluster of Abu Dhabi Ports, to ensure non-stop gas supply to its customers. The system modernisation will take place over the next several months as part of a continuous comprehensive ...

Bloomberg A Boeing Co 737 Max 7 has arrived at the Shangai airport for flight tests by Chinese authorities, the Paper reported. Chinese aviation officials last month signalled they are open to conducting flight tests on the plane in a step towards lifting its grounding after more than two years. China was the first nation to ground the Max, acting ...

DUBAI / WAM Dubai showed quick recovery from the repercussions of Covid-19 in different economic sectors thanks to the resilient strategies and plans the emirate followed in the face of the pandemic, and the dynamic and wise initiatives directed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The trade sector continued ...