News

Bloomberg Japan’s second-quarter gross domestic product data put the nation in an unexpected spot: at the top of the growth table among Group of Seven advanced economies. The strongest domestic demand in years helped drive Japanese GDP to a sixth consecutive quarter of expansion, elevating hopes for a sustainable recovery in an economy that’s been better known in recent years ...

Bloomberg Alibaba and Tencent can count themselves among the world’s costliest technology companies after a stellar run. To justify those lofty valuations, China’s two largest corporations have to deliver on some of the riskiest bets they’ve placed in years. Alibaba Group Holding Ltd., which created China’s largest online bazaar but has scant brick-and-mortar experience, spent $8 billion investing in a ...

Bloomberg Toshiba Corp.’s talks to sell its chips business to a consortium led by Bain Capital hit an impasse over the timing of payments for the business and governance issues, according to people familiar with the matter, casting doubt on the company’s ability to complete a deal quickly. The Bain group wants to make cash payments after Toshiba resolves a ...

Bloomberg China’s home sales grew last month at the slowest pace in more than two years amid regulators’ moves to rein in soaring prices. The value of new homes sold rose 4.3 percent to 779 billion yuan ($117 billion) in July from a year earlier, according to Bloomberg calculations based on data released Monday by the National Bureau of Statistics. ...

ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, and MDC Business Management Services (BMS) signed a MoU to explore opportunities to deliver projects that improve the energy and water efficiency of buildings and facilities in the UAE. Masdar’s specialised sustainability capabilities will be combined with the facilities management expertise of BMS to help companies make their properties more ...

ABU DHABI / WAM Short-term deposits in UAE banks increased by AED27.9 billion during H1, bringing to AED439.7 billion the total value of short-term deposits by the end of June, according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than ...

ABU DHABI / Emirates Business Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, kept the momentum of its strong Q1 performance to achieve a combined net profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting ...

FUJAIRAH, RAS AL KHAIMAH, AJMAN WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday offered his condolences to the families of the nation’s martyrs, who fell while carrying out their duties with the Arab Coalition’s “Operation Restoring Hope,” led by the Kingdom of Saudi ...

Dubai / Emirates Business Consumer spending in the UAE, which amounted to nearly $183 billion in 2016, is forecast to rise at a compound annual growth rate (CAGR) of 7.5% over the next five years to exceed $261 billion in 2021, analysis released by the Dubai Chamber of Commerce and Industry showed. The analysis, based on recent data from Euromonitor ...

ABU DHABI / WAM The Abu Dhabi Global Market (ADGM) Registration Authority has announced that it is to be granted Observer Status of the International Conference of Data Protection and Privacy Commissioners (ICDPPC). ADGM is the only International Financial Centre (IFC) and data protection regulator to be accredited with such status in the MENA region. With Observer Status, ADGM joins ...