News

Bloomberg German factory orders unexpectedly dropped in March and February was revised lower, confirming a weak start to the year in Europe’s largest economy and raising concern over the strength of the euro-area growth. Orders slid 0.9 percent, compared with a median estimate for a 0.5 percent increase in a Bloomberg survey. With February’s figure revised to minus 0.2 percent ...

Bloomberg Warren Buffett boosting his stake in Apple Inc. has pundits predicting it is poised to hit $1 trillion in market value. But the iPhone maker isn’t the first to tread that lofty path. PetroChina Co. crossed the milestone back in November 2007, when its mainland shares almost tripled in value in their Shanghai trading debut. But the state-controlled energy ...

Bloomberg Angelo Gordon & Co. has raised $843 million for its second Europe-focussed real estate fund, surpassing its $750 million target. AG Europe Realty Fund II will seek out complex, off-market opportunities in the UK and elsewhere in Western Europe, regions that are “still experiencing substantial levels of distress and dislocation,” said Anuj Mittal, co-portfolio manager of European real estate ...

Bloomberg A plan to replace the chief executive officer of Xerox Corp. and several directors fell apart over a technicality, setting the stage for a proxy fight in which activist shareholders will seek to improve the terms of a deal to cede control of the iconic US printer company to Japan’s Fujifilm Holdings Corp., or scrap it entirely. In a ...

Abu Dhabi / WAM Aldar Properties has announced a contribution of AED36 million to Sandooq Al Watan, the National Fund entrusted with the responsibility of promoting sustainable development, a decent life and a bright future for all the people of the UAE. The contribution was personally made by Aldar’s Chairman, His Excellency Mohamed Khalifa Al Mubarak. Aldar’s latest contribution to ...

DUBAI / WAM Enoc Group unveiled on Sunday that its sales volume in 2017 reached 249 million barrels, underpinned by the group’s strategic expansion of trading activities, retail operations, energy storage and petroleum product marketing efforts. Saif Humaid Al Falasi, Group CEO of Enoc, said, “The UAE is an integral player in the global energy landscape and is at the ...

DUBAI / Emirates Business A unique world-class pioneering project to facilitate and support the growth of local and international entrepreneurs and position the UAE as a leading light in global business innovation is being brought forward by Al Ahli Holding Group. The Dubai-based multi-diversified conglomerate is behind Nomad, a highly ambitious one million square foot entrepreneur and media hub which ...

Dubai / WAM Cargo traffic at Dubai World Central (DWC) grew 8.9% during the first quarter of 2018, according to a report issued on Sunday by operator Dubai Airports. DWC handled a total of 229,831 tonnes of freight between January and March 2018, an increase of 8.9% compared to 211,144 tonnes during the corresponding period in 2017. During first three ...

DUBAI / Emirates Business Shuaa Capital on Sunday announced its Q1 financial results, with the firm maint- aining profitability. While group total revenues increased 4% to settle at AED 33.2 million (Q1 2017: AED 31.8 million), profits retreated to the AED 11.7 million mark (Q1 2017: AED 24.8 million) primarily as a result of lower interest income from its lending ...

DUBAI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) has signed Memorandums of Understanding (MoU) with several national consultancy firms, with the aim of strengthening their cooperation and supporting the flow of foreign investment to the country. The signing of the MoUs took place on Sunday at the ministry’s office in Dubai, and the list of consultancy ...