News

Bloomberg The UK’s biggest bond mutual fund is shifting money to the other side of the Atlantic as the interest-rate gap between Europe and the US widens to record levels. M&G Limited has boosted US holdings in its 23.4 billion pound ($32 billion) Optimal Income Fund this year to more than a third at the expense of positions in French, ...

Bloomberg Brookfield Asset Management Inc. offered A$4.35 billion ($3.3 billion) for Australian hospital operator Healthscope Ltd., topping a bid from private equity firm BGH Capital. The Canadian asset manager offered A$2.50 a share in cash, Healthscope said on Monday. That’s 23 percent more than the stock price on April 24, before BGH’s offer was disclosed. Healthscope said it will assess ...

Bloomberg Suitsupply is suiting up for expansion. The Dutch menswear seller may not yet be a household name outside of the millennial circuit, but it’s spending heavily to change that. It’s gone on a hiring spree to fill its senior ranks — including former executives from Bank of America to Tory Burch — and mapped out a plan for international ...

Bloomberg OPEC has enough spare production capacity to cushion oil markets if the US re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Three members of the Organization of Petroleum Exporting Countries — Saudi Arabia, Kuwait and the UAE — together have enough capacity, Al Mazrouei said in an interview with Bloomberg Television in Abu ...

ABU DHABI / WAM President Hashim Thaci of Kosovo inaugurated the new Embassy of Kosovo in Abu Dhabi in the presence of Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation. Al Hamli congratulated the Kosovo President on the opening of the new embassy, praising the role of the Kosovo government and its diplomatic mission for their great ...

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of $400 million Sukuk by Damac Real Estate Development Limited (DRED). The listing on the region’s international exchange supports Damac Properties’ capital raising programme for general corporate purposes and its ongoing growth strategy, as it continues to extend its footprint in the Middle East and beyond with projects in the ...

DUBAI / Emirates Business Global trade enabler DP World has extended its partnership with Oracle to implement its digital transformation programme that supports its strategy to develop complementary sectors in the global supply chain such as industrial parks, free zones and logistics. The move follows an announcement by DP World earlier this year to use the Oracle Cloud Suite of ...

Dubai / WAM The Dubai Department of Economic Development (DED), has issued 1,848 new business licenses during April as the emirate remained a destination of choice for investment in diverse business sectors. The ‘Business Map’ digital platform of DED saw 26,498 business registration and licensing transactions being completed during the month as economic diversification and competitiveness continued to strengthen the ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), has provided humanitarian assistance to 4,493 underprivileged families and individuals in the UAE during the first quarter of 2018. Rashid Mubarek Al Mansouri, ERC’s Deputy Head for Local Affairs Sector, said that UAE leadership continues to reiterate its support for increasing the ERC’s presence across the country with the ultimate objective ...

Dubai / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) concluded its successful participation at the 10th Russia – Islamic World Kazan Summit that ran from May 10-12. Supported by the Federation Council of the Federal Assembly of the Russian Federation and the Government of the Republic of Tatarstan, the annual summit seeks to strengthen trade and economic, as well ...