News

  Bloomberg Australia’s government finally took up the central bank’s call for economic stimulus in its annual budget, with a A$75 billion ($55 billion) infrastructure plan as its centerpiece. Road, rail and runway construction will support growth from Western Sydney to Western Australia, Treasurer Scott Morrison announced in Canberra on Tuesday. His plan promises to create thousands of jobs in ...

  Bloomberg A bond slump in China hasn’t damped top global funds’ interest in the $9 trillion market as the government opens the door to greater access. Neuberger Berman Group LLC, based in New York, is considering launching a private fund with a focus on bonds after Fidelity International became the first global asset management firm to do so in ...

  Bloomberg NetLink Trust, the fiber broadband network provider backed by Singapore’s biggest phone company, started briefing analysts this week ahead of an initial public offering that could raise at least S$2 billion ($1.4 billion), people with knowledge of the matter said. The arm of Singapore Telecommunications Ltd. began meeting research analysts to explain its business model, which will later ...

  Bloomberg UK consumer-spending growth slowed in April and is forecast to remain weak in the coming months, according to a report from Visa. Its index showed spending rose an annual 0.5 percent in April, down from 1 percent in March and marking one of the slowest rates of growth in the past three years. Weaker household demand is also ...

  Bloomberg Pandora Media Inc., struggling with widening losses and a tepid outlook for its online music business, is shaking up its board and stepping up efforts to find a possible buyer. The Oakland, California-based company said in a statement it received a $150 million infusion from KKR & Co., the private-equity firm. Two directors will leave and Pandora will ...

  DUBAI / WAM The Dubai Financial Market Company (DFM) announced its financial results for the first quarter of the year ending 31 March 2017, reporting a net profit of AED102.34 million, 19% increase compared to AED86 million during the corresponding period of 2016. The company’s total revenue has grown by 18% to AED149.34 million in Q1 of 2017 compared to ...

  ABU DHABI / WAM An annual exhibition organised by the Abu Dhabi Businesswomen Council opened on Monday to showcase the innovative projects launched by Emirati women entrepreneurs. Entrepreneurs from the UAE, Bahrain and Kuwait are participating in the exhibition held under the patronage of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, Supreme Chairwoman of the ...

  DUBAI / WAM Emirates NBD announced it is the first bank in UAE to process loan or card applications utilising Al Etihad Credit Bureau Consumer Retail Banking Score. The AECB Consumer Retail Credit Bureau Score is the first scoring system for UAE’s retail banking customers, exclusively developed for risk prediction using historical data on repayment behaviour reported to Al Etihad ...

  Dubai / WAM Merger and acquisition (M&A) activity in the Middle East and North Africa (MENA) declined in the first quarter of 2017 recording 84 deals, compared to 115 deals in Q1 of 2016, according to the Q1 2017 M&A report from global professional services firm EY. However, the report shows that MENA deal values remained broadly stable reaching ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, witnessed on Monday the launch of Miral’s AED12 billion master development plan to transform the southern end of Yas Island in Abu Dhabi. His Highness welcomed Miral’s delegation today at the Sea Palace Abu ...