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Bloomberg Economic activity in the euro area was stronger than expected in February as an improving services sector managed to offset a slump in industry. Services expanded across the 19-nation euro area, bolstered by gains in Germany, Ireland and Spain, according to IHS Markit. That pushed a composite Purchasing Managers’ Index to 51.9, the highest in three months. An initial ...

DUBAI / Emirates Business Middle East and North Africa (Mena) IT spending is projected to reach $160 billion in 2019, a 1.8 percent increase from 2018, according to the latest forecast by Gartner Inc. “In 2019, businesses in Mena are set to increase their IT spending in all segments except for the devices segment,” said John Lovelock, distinguished research vice ...

ABU DHABI / WAM The realty sector attracted the largest share of liquidity on the country’s two main bourses during the first two months of the current year. Up to AED4.45 billion of real estate transactions were conducted in January and February, accounting for 24.4 percent of the total trades, valued at AED18.2 billion, according to official figures obtained by ...

ABU DHABI / WAM AbdulAziz Al-Ghurair, Chairman of UAE Banks Federation, together with CEOs of leading UAE banks, received Sigal Mandelker, the US Under Secretary of the Treasury, and Paul Khuri, the recently-appointed US Treasury Attache to the UAE and the Sultanate of Oman, along with other high-level delegates from the US Treasury. The meeting addressed ways of increasing consultations, ...

Bloomberg Oil climbed as the US and China were said to near a deal on trade that would underpin the outlook for crude demand, while supplies around the world showed signs of tightening. Futures in New York rose as much as 1.1 percent after a drop of 2.6 percent last week. The world’s two biggest economies are approaching an accord ...

Dubai / Emirates Business Dubai Chamber of Commerce and Industry honoured 33 companies for their corporate social responsibility and sustainability efforts in the second half of 2018 during a recognition ceremony recently held at its premises. The Dubai Chamber CSR Label was presented to Landmark Group and United Engineering Construction Company for the first time. Congratulating the awardees for their ...

Dubai / WAM Dubai Mercantile Exchange (DME), on Monday announced a 160 percent increase year-on-year in trading activity on the exchange’s forward curve. The forward curve represents the value of Oman Blend Crude Oil in future months. Activity in the forward curve happens when customers want to protect themselves against the risk that the price of Oman crude oil will ...

Dubai / Emirates Business dnata Travel has been named “Favourite Travel Agent” at the annual Condé Nast Traveller Middle East Readers’ Choice Awards. The awards were presented at a gala dinner in Dubai, in front of the region’s leading travel and hospitality operators. “We are proud to be voted the most preferred travel agent by the readers of Condé Nast ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Monday visited educational institutions in Fujairah and Kalbaa in Sharjah. During the visit, His Highness Sheikh Mohammed announced the allocation of AED1.5 billion to build the first group of a ‘new generation’ of Emirati schools. He ...

DUBAI / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) officially launched its B2B Attractions Marketplace to the industry as a powerful online platform that connects attractions and experiences across the city with global audiences and relevant channel partners. Creating a seamless technological framework to stimulate industry cohesion, the initiative has been designed to help attractions access ...