News

Bloomberg T-Mobile US Inc. rallied after adding more subscribers than Wall Street expected in the third quarter, giving fresh momentum to a company awaiting federal approval for its $26.5 billion acquisition of Sprint Corp. The carrier added 1.08 million monthly subscribers in the third quarter, beating the 844,000 projected. It was the fourth straight quarter to exceed more than 1 ...

Bloomberg The US economic expansion will stretch into the 2020s and a flattening yield curve is normal and unlikely to invert soon, according to US investment manager Payden & Rygel. The global economy looks on firm footing across the board, with unemployment rates trending lower and inflation rates remaining well behaved, said Brad Boyd, senior vice president at the Los ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, issued a Decree-Law No. (19) of 2018 on Foreign Direct Investment (FDI) which aims to promote and develop the country’s investment environment, and attract foreign direct investment in line with the national development policies. In accordance with Article II, the decree-law aims to consolidate the country’s position ...

DUBAI / WAM Dubai trade with South Korea grew eight percent from AED 25.3 billion in 2016 to AED 27.4 billion in 2017, standing at AED8.7 billion during first six months of 2018. The figures were revealed during a meeting between Ahmed Mahboob Musabih, Director of Dubai Customs, and a South Korean delegation led by the Consul-General in Dubai, Chun ...

DUBAI / WAM Emirates Islamic bank has delivered a strong set of financial results for the period ended on September 30. The bank’s net profit increased by 32 percent year-on-year reaching AED657 million, and total income (net of customers’ share of profit and distribution to sukuk holders) increased by two percent year-on-year to AED1.8 billion. Financing and investing receivables at ...

Bloomberg Oil slid to a two-month low as escalating US-China trade tensions imperiled global growth at a time when American crude inventories are swelling. Futures declined as much as 2.6 percent in New York on Tuesday. The US is preparing another round of tariffs on Chinese imports if talks between the presidents of the world’s two largest econo-mies falter. Meanwhile, ...

Manama / WAM King Hamad bin Isa Al Khalifa of Bahrain has received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in the presence of Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development. King Hamad commended the results of the joint UAE-Bahrain committee that convened on October 29-30, during which a ...

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, officially inaugurated the Global Islamic Economy Summit 2018 (GIES), the world’s largest forum dedicated to all aspects of the Islamic economy, which got underway in Dubai on Tuesday. Held under the theme “A Shared Future”, the two-day ...

Dubai / WAM Dubai Maritime City (DMC), has participated in the 9th edition of the Seatrade Maritime Middle East Conference and Expo taking place at the Dubai World trade Centre. Dubai Maritime City’s participation is to play a significant role in promoting UAE as a first-class maritime destination and will provide a platform for DMC to showcase the recent and ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday crowned Maryam Amjoun, a student from Morocco, as Champion of the third Arab Reading Challenge at a packed award ceremony at Dubai Opera and presented her with the cash prize of AED500,000. Al-Ikhlas School from Kuwait ...