News

Bloomberg Germany’s economy emerged from stagnation at the beginning of 2019, returning to growth despite a slump in manufacturing that could worsen because of escalating global trade tensions. The 0.4% expansion signals some strength across the euro area in the first quarter amid a better-than-expected performance in a number of countries. But industry is under pressure and the region is ...

Bloomberg Sanofi is joining other big pharmaceutical companies in expanding beyond pills and injections into a new frontier of tech-based treatments that doctors can prescribe. Working with partner Happify Health, the French drugmaker is studying a potential digital therapy for patients with depression and multiple sclerosis. That follows the launch last year of a similar type of prescription treatment from ...

Bloomberg British Steel Ltd., one of the UK’s largest steel producers, said it’s in discussions with the government for extra funding to solve a cash crunch caused by Brexit. The money would be in addition to a 120 million pound loan ($156 million) granted by the government to cover the cost of meeting obligations under the European Union’s carbon trading ...

Bloomberg Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend. Futures rose 1.2% in New York, reversing the previous day’s drop. Unidentified dro-nes attacked two pumping st-ations belonging to Saudi Ara- mco, forcing the state oil company to suspend operations in the ...

ABU DHABI / WAM Aldar Properties PJSC has reported a 20 percent year-on-year increase in revenue to AED1.76 billion in the first quarter of 2019. Asset management net operating income rose 9 percent to AED 431 million, driven by last year’s asset acquisitions while development sales totalled AED1 billion in the first quarter of 2019, up 49 percent from year ...

Bloomberg The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The US Trade Representative’s office released a list of about $300 billion worth of Chinese goods including children’s clothing, toys, ...

DUBAI / Emirates Business Emirates NBD, a leading financial institution in the region has bagged four prestigious titles at The Asian Banker’s International Excellence in Retail Financial Services 2019 Awards. Emirates NBD was named ‘best retail bank in the Middle East’ and ‘best retail bank in the UAE’, in recognition of the various milestones achieved by the retail banking division ...

Bloomberg Bitcoin strengthened past $8,000 for the first time in about 10 months on Tuesday, crossing another milestone as cryptocurrencies continued their scorching rally. The largest digital token climbed as much as 3.8% before trading at $8,096 in London, according to Bloomberg composite pricing. Tuesday’s advance follows a 25% surge a day earlier — the biggest one-day increase for Bitcoin ...

ABU DHABI / Emirates Business Etihad Airways, the national airline of the UAE, announced it is extending its free Abu Dhabi stopover campaign to the end of the year due to the popularity of the special offer in its opening month. Travellers flying through the capital of the UAE with the airline are invited to enjoy a free two-night hotel ...

ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA), of the Abu Dhabi Global Market (ADGM), updated its “Guidance for the Regulation of Crypto Asset Activities”, the second edition to the initial guide published on June 25, 2018. The updated guide reinforces the FSRA’s focus and commitment as a financial services regulator to support innovation and maintain rigorous regulatory ...