News

Bloomberg UK manufacturing growth slowed more than expected last month, casting doubt on the strength of the economy as Bank of England policy makers hold their crunch meeting. IHS Markit’s Purchasing Managers Index for the industry fell to a three-month low of 54 in July, from 54.3 in June, the firm said in a report. The reading was below economists’ ...

Bloomberg The White House isn’t actively considering the Treasury Department’s push to issue a rule that would slash tax bills for investors who have investment income, according to a person familiar with the discussions. Treasury Secretary Steven Mnuchin told the New York Times earlier this month that his agency was looking at whether it could sidestep Congress to allow capital ...

Bloomberg Avison Young Canada has bought London-based real estate services firm Wilkinson Williams LLP, its first deal since receiving a $190 million investment by a big Canadian pension fund earlier this month. Wilkinson Williams represents landlords and tenants across the UK and has acted as an adviser on retail and supermarket leases. Last year, the firm advised clients on investment ...

Bloomberg Uber Technologies Inc. is partnering with security and insurance company Chubb Ltd. to cover its South African drivers in case of death or injury as violent attacks plague the country’s cities. The new deal will pay out a lump sum to the family in case of death, or to the driver if he or she is permanently disabled, the ...

Bloomberg Manufacturers in some of the world’s biggest economies are putting the brakes on production as they watch trade disputes with the US unfold. Reports showed factory activity from the Asia Pacific region to Europe slowed last month. With companies issuing warnings about the impact of tit-for-tat battles over import tariffs on their profits, the data suggest that protectionist threats ...

BERBERA/ WAM The Khalifa bin Zayed Al Nahyan Foundation has concluded its third relief operation in Somalia’s Berbera region, distributing food aid packages to 10,000 families affected by the drought. According to a spokesperson from the organisation, the campaign was implemented in accordance with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with the support of ...

ABU DHABI / WAM The UAE Cabinet approved restructuring of board of the UAE Space Agency under the chairmanship of Dr Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills. The Board of Directors includes Hamad Obaid Al Mansouri, Chairman of the Mohammed bin Rashid Space Centre as Vice President; Khalid Abdullah Al ...

DUBAI / WAM Dubai Investments, leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED491 million for the six month period ended on June 30, an increase of AED11 million compared to AED480 million for the same period last year. Company’s total assets grew to AED19.04 billion compared to AED17.0 billion as on December, ...

Bloomberg Majid Al Futtaim Holding LLC, the Dubai-based conglomerate which operates Carrefour SA stores in the Middle East, posted a 13 percent increase in revenue during the first half, as the company’s regional expansion helped weather the impact of value-added taxation at home. Sales climbed to AED17.8 billion ($4.85 billion) from a year earlier despite “adverse market conditions,” Chief Executive ...

Bloomberg Dubai’s main equity gauge posted its biggest monthly gain in a year, powered by a revival in the banking sector as better-than-estimated earnings help UAE stocks escape this year’s doldrums. The DFM General Index has surged 4.8 percent in July. In Abu Dhabi, the ADX General Index posted its largest monthly gain in more than two years, advancing 6.6 ...