News

Bloomberg Apple Inc. investors are likely looking for the company to use its massive cash pile to make acquisitions, and names like Netflix Inc., Activision Blizzard Inc. and Sonos Inc. are among the companies that JPMorgan sees as strong strategic fits. Shares of Apple have lost more than 25 percent from an October record, dropping on concerns over the demand ...

Bloomberg When Siemens AG and Alstom SA unveiled their rail merger in 2017, the former arch-rivals hailed the deal as a historic union, forming the basis of a European champion with the heft to take on an expansionist Chinese competitor. The plan may well go down in history books, but not for the reasons the companies hoped. Rather, the European ...

Dubai / Emirates Business Mergermarket, the leading provider of mergers and acquisitions (M&A) data and intelligence, has released research showing that in 2018 the Mena region experienced a significant spike in deal value, reaching $26.76 billion, compared with $15.86 billion in 2017 — an increase of 68.7%. The significant growth in deal value was driven by increased deal-making in the ...

Dubai / Emirates Business Emirates NBD Purchasing Managers’ Index (PMI) released January data for the UAE non-oil private sector. The survey, compiled by IHS Markit, contains original data collected from a monthly survey of business conditions in the industry. Khatija Haque, Head of Mena Research at Emirates NBD, said: “The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE rebounded ...

Bloomberg Oil held gains near a two-month high after data showed US production growth slowing at a time when Opec cuts and American sanctions on Venezuela have already eased concerns over a supply glut. Futures in New York rose as much 0.9 percent to reach the highest intraday level since November 21, after adding 2.7 percent. Opec’s crude output fell ...

TOKYO / WAM Japan imported from the United Arab Emirates 22.778 million barrels of crude oil in December 2018, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 24.5% of Japan’s total crude imports, the agency that belong to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 39.437 million barrels, ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have discussed with His Holiness Pope Francis the friendly relations between the UAE and ...

ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s national railway network, has revealed details of their new strategy and brand identity, following the recent financing approval for Stage Two of the UAE’s national rail network. Operating under the directions of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, the new ...

Emirates Business Worldwide leader of the Catholic Church, His Holiness Pope Francis, touched down in Abu Dhabi for a three-day trip to strengthen interfaith dialogue and understanding in support of peace. Etihad Airways, as the UAE’s national airline, is celebrating this first ever papal visit to the Arabian Gulf with festivities in its offices and on board its flights in ...

DUBAI / WAM Nasdaq Dubai and FTSE Russell have signed a license agreement for the exchange to launch derivatives on FTSE Russell’s Saudi Arabia equity indices. In its first use of the license, Nasdaq Dubai intends to launch futures on the FTSE Saudi Arabia Index later this month on a date to be announced. The futures, together with other derivatives ...