News

Abu Dhabi / WAM The UAE equities are forging ahead with their winning streak for the second day running amidst a positive mood prevailing following Emaar’s outperformance which saw its share edge toward the AED8.00 mark for the first time in a year, closing at AED7.91 in Tuesday’s session. The upbeat sentiments created by Emaar’s announced IPO last week drove ...

Sharjah / Emirates Business Expo Centre Sharjah is all set to become the most visited retail and leisure destination this season, as the 16-day Ramadan Nights will begin from June 15. Being held as part of Sharjah Ramadan Festival organised by the Sharjah Chamber of Commerce and Industry, the Ramadan Nights will incorporate all the elements to help residents and ...

Abu Dhabi / WAM Abu Dhabi has been selected as the host destination for the next edition of the International Council of Nurses Congress. The event, held every four years, is organised by the International Council of Nurses, ICN, the 2021 edition will be hosted by the Emirates Nursing Association, ENA, and supported by Abu Dhabi Convention Bureau, a division ...

Bloomberg General Electric Co. and Baker Hughes Inc. have cleared a second major antitrust hurdle in their effort to create the world’s second-biggest oilfield services provider. GE won approval from the US Justice Department to combine its oil and gas business with Baker Hughes. The clearance follows by two weeks a similar decision by European regulators, and comes just hours ...

CAIRO / Reuters Egypt’s gross domestic product is projected to grow 5.3 percent by 2019, suggesting the economy of the most populous Arab state is recovering after years of turmoil, the World Bank has said. In its monthly Global Economic Prospects report for June, the Bank estimated Egypt’s GDP would grow 3.9 percent in the 2016-17 fiscal year, which ends ...

Bloomberg Oil held gains near $46 a barrel before US government data forecast to show crude stockpiles resumed declines after an unexpected rise. Futures climbed 0.2 percent in New York after advancing 1 percent in the previous two sessions. Inventories are forecast to have slid by 2.25 million barrels last week, according to a Bloomberg survey before an Energy Information ...

Bloomberg Glencore Plc is doubling down on coal, even as rivals BHP Billiton Ltd. and Rio Tinto Group move away from the world’s dirtiest fossil fuel. The company, run by former coal trader Ivan Glasenberg, made a surprise eleventh-hour $3.5 billion bid for a huge patch of thermal coal-rich ground on Australia’s east coast controlled by Rio Tinto Group and ...

Bloomberg India’s government has signaled it will press ahead with the roll out of a goods and services tax on July 1, pushing back against speculation it’s considering delaying the launch of one of its flagship reforms. “The rumors about GST implementation being delayed are false,” Revenue Secretary Hasmukh Adhia said in a Twitter post on Tuesday. “Please do not ...

Bloomberg As the Union Jack fluttered over Hong Kong’s Victoria Harbour for the last time on June 30, 1997, home prices were hovering near record highs and sellout crowds at new projects were the norm. Twenty years on, property price have hit fresh records and buyers are still thronging to buy new apartments. This time around, the boom has been ...

Bloomberg China’s next batch of economic data is expected to signal that consumption remained steady while industrial momentum softened a bit in the world’s second-largest economy. Data on Wednesday will show retail sales growth was unchanged last month while growth in factory output and investment both edged down for a second month, economists say. That would reinforce expectations that economic ...