News

Bloomberg Denmark’s center-right government raised its forecast for economic growth this year and predicted it will borrow less via bond markets as the public deficit shrinks. The minority coalition of Prime Minister Lars Lokke Rasmussen expects gross domestic product to expand 1.7 percent this year, faster than the 1.5 percent it forecast just last month, according to Economy Ministry documents ...

Bloomberg Sweden’s economy slowed at the start of the year as exports struggled to maintain momentum, dulling a housing-fueled investment and consumption boom in the largest Nordic economy. Gross domestic product grew 0.4 percent in the first quarter and expanded an annual 2.2 percent, Statistics Sweden said on Tuesday. Analysts surveyed by Bloomberg estimated growth of 0.9 percent and 2.9 ...

Bloomberg Turkey may sell as much as $8 billion in debt, according to a US regulatory filing, a sign the government may be preparing to ramp up borrowing as it seeks to plug a widening budget deficit. Turkey may offer the securities from “time to time in one or more offerings” and will use the proceeds for general financing purposes, ...

DUBAI / WAM Dubai Financial Market (DFM) for the fifth consecutive year and as part of its leading investor and issuer services, has successfully accomplished its cash dividend distribution for the financial year 2016, with as much as AED12.6 billion been disseminated to 331,000 investors. The number of listed companies that have outsourc- ed the dividend distribution process to DFM ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) signed a strategic partnership agreement with the Dubai Post digital platform. Dubai Post will set up and implement special visual content that reflects DEWA’s efforts in supporting its employees and helping them advance in various jobs, providing them with the appropriate environment to achieve the future objectives of DEWA and its ...

DUBAI / Reuters The government of Dubai is expected to raise the money needed to extend the city’s metro with an initial loan of roughly $500 million that will later be followed by loans guaranteed by export credit agencies (ECAs), banking sources familiar with the matter said on Monday. The department of finance will approach banks over the next couple ...

Dubai / WAM The 5th Nad Al Sheba Sports Tournament was launched by HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Mohammed bin Rashid Al Maktoum Knowledge Foundation, at the NAS Sports Complex, with the first two preliminary round matches of the volleyball competition held late in the day. “Unlimited Capabilities” is the theme of the 2017 ...

Abu Dhabi / Emirates Business The Department of Finance – Abu Dhabi (DoF) has announced that the ‘Al Maqta’a bidding hall’ processed 26 tenders for seven government entities in Abu Dhabi during the first quarter of 2017, worth over AED 5 billion. The capital and operational project tenders managed by Al Maqta’a during the first quarter of 2017, included service, ...

Sharjah / Emirates Business Adding to its portfolio of new businesses successfully making their way into the industry, Sheraa has facilitated the launch of ‘Tawseel’ (‘delivery’ in Arabic) – a food delivery service helping restaurants keep up with delivery requests without disruption in service. The startup operates with a fleet of eleven delivery bikes, including a Honda CBR 600 bike ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry hosted on Sunday a special ceremony at its head office to recognise member companies that have demonstrated outstanding export performance during the first four months of 2017. The exclusive SME Exporter of the Month gathering honoured four companies that operate in the trade sector. Al Bahrain Jewellers LLC was ...