News

Bloomberg The US Treasury is poised to render a verdict on President Donald Trump’s claim that China is manipulating its currency as a trade war between the two nations intensifies and rattles markets. While the US hasn’t designated China as a currency manipulator since 1994, Wall Street is bracing for the prospect that the Treasury Department will do so this ...

Bloomberg Beleaguered technology investors are looking to Netflix Inc. to stop the bleeding. The company’s earnings are poised to be even more closely watched than usual after last week’s market rout. Netflix is one of the first major US companies to report third-quarter results — and 2018’s best-performing FAANG stock — making it especially influential in the wake of a ...

Bloomberg The pound capped losses following a weekend of fruitless Brexit talks on conviction that the UK and the European Union would eventually reach a deal to avoid a chaotic divorce. Sterling was little changed in mid-morning trading in London as people familiar with the matter said there would be no further attempt to resolve the impasse before an EU ...

Bloomberg Activist investor Carl Icahn has come out against Dell Technologies Inc.’s plan to return to public markets, arguing that the proposed transaction undervalues shares that track its stake in VMware Inc. The billionaire said he would solicit votes against the deal and potentially propose an alternative transaction allowing investors to cash out if they want. Icahn also disclosed in ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Decretal Law No.10 of 2018 on Netting, where its provisions shall apply to all qualified financial contracts, netting agreements specified under this law or collateral arrangement, which are entered into by any person in the state. This decretal law does not apply to the ...

Bloomberg Global finance chiefs used the closing sessions of talks in the tropical resort of Bali to hammer home the message that simmering trade tensions are already denting global growth and need to be resolved. Bank of Japan Governor Haruhiko Kuroda said it’s essential to have dialogue on trade; Brazil’s central bank President Ilan Goldfajn flagged the tensions as one ...

ABU DHABI / WAM Adnoc Distribution’s shareholders have approved the Board of Directors’ recommendation to pay an interim dividend of AED735 million, at the company’s General Assembly meeting. Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the Adnoc Distribution Board of Directors, said: “Adnoc Distribution has maintained its com- mitment to a progressive and consistent ...

ABU DHABI / WAM Abu Dhabi Ports and Etisalat have signed a Memorandum of Understanding (MoU) focussing on advancing technological capabilities and business opportunities in support of Abu Dhabi Economic Vision 2030. The partnership, signed at Gitex Technology Week, focusses on building shared electronic projects, exchanging knowledge, simplifying procedures, securing fixed and wireless telecommunications coverage, and managing operational risk. Etisalat ...

DUBAI / WAM A team from Mohammed bin Rashid Space Centre (MBRSC), have conducted the final technical tests on KhalifaSat, which arrived at Tanegashima Space Centre in Japan. KhalifaSat was prepared for mating with the launch vehicle, Rocket H-IIA, and has been successfully installed into it and is awaiting launch on October 29. The satellite is stored within a specially ...

CAIRO / WAM­­­­­ The UAE will participate in the Egypt’s inaugural International Business and Franchise Expo (BiznEX 2018). The expo will run from November 8-10 at the Egypt International Exhibition Centre, and will see the participation of 200 public and private investment organisations from across several Arab countries. Mohsen Adel, Chairman of the General Investment Authority of Egypt, said that ...