News

  Bloomberg India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets. Exports of polished lab-grown diamonds may double in the current financial year started from April 1 from $1.3 billion in the prior year, ...

  Bloomberg Singapore’s inflation is seen to remain elevated until the first quarter of next year and the central bank will probably tighten further at the October review, according to a Bloomberg survey of economists. Headline and core inflation forecasts show a quickening into yearend, before both measures start to ease in the January-March period and slip below 4% from ...

  Bloomberg API Holdings Ltd, owner of India’s largest online pharmacy PharmEasy, has withdrawn its preliminary filing for an initial public offering, citing market conditions and strategic considerations. The Mumbai-based company is planning to raise funds via a rights issue for convertible preference shares, according to an announcement to investors seen by Bloomberg News. The price is expected to be ...

  Bloomberg Sichuan’s worst drought in more than a half century spurred the Chinese province to extend industrial power cuts and activate its highest emergency response, adding to manufacturers’ woes as they shut down factories in the region. Temperatures above 40 degrees Celsius (104 degrees Fahrenheit) and scant rainfall, along with surging demand for air conditioning, have caused gaps in ...

  Bloomberg Oil falls for the week as lingering concerns over a global economic slowdown overshadowed signs of improving US demand. West Texas Intermediate futures edged higher in a choppy session but not enough to erase steep losses earlier in the week. Traders reported some pre-weekend liquidation with uncertainty around Iran’s supplies as the European Union (EU) and the US ...

  Abu Dhabi / WAM In line with UAE efforts to strengthen relations with the Islamic Republic of Iran, and as part of a previous decision to increase diplomatic representation to the rank of ambassador, and the recent phone call in this regard, held in July 26, between HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and ...

  Abu Dhabi / WAM The data of the Egyptian Central Agency for Public Mobilisation and Statistics (Capmas) revealed that value of Emirati investments in Egypt increased to AED6.98 billion during the first half of the 2021-2022 fiscal year, compared to AED2.617 billion during the same period of the fiscal year 2020-2021, an increase of 169.1 percent. In a statement ...

  Dubai / WAM The 8th World Green Economy Summit (WGES), to be held in Dubai, will focus on developing investment partnerships in green projects and financing. It will promote investment and employment opportunities provided by the green economy. During the summit, several local and global high-profile participants, including heads of states and governments, as well as prominent global speakers, ...

Dubai / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), announced that RTA had achieved the targeted energy efficiency performance indicators 2021 and reduced total energy consumption in all operations and projects by 18%, when compared with average consumption from 2016 to 2019. It also managed to reduce ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) was the leading Arab financial market in terms of performance last week, as its index surged by 3.6%, and its market value by 3.03%, according to the Arab Monetary Fund (AMF). In its weekly bulletin on Arab capital markets’ performance, the AMF noted that the market value of Arab ...