News

  Bloomberg Oil rebounded from a six-week low on signs the US crude surplus is easing and as Russia signaled support for longer production cuts with OPEC. Futures in New York rose as much as 1.1 percent after closing at the lowest since March 21. US crude inventories fell by 4.16 million barrels last week and gasoline dropped by 1.93 ...

  Bloomberg China is breaking out its mouthpieces — and wallet — as it seeks to soothe investors in the face of tighter financial market regulations. The central bank-run Financial News urged stock investors not to overreact to tougher regulations in front-page commentary on Wednesday. The monetary authority will prevent swings in liquidity from exceeding tolerable levels, the official Xinhua ...

  Bloomberg Raja Mukherji, head of Asia credit research at Pacific Investment Management Co., has turned less bullish on the region’s dollar bond market, as record offerings raise the risks presented by weaker borrowers. “We don’t have a table-pounding buy on Asian credit today like we did last year, especially not for high-yield bonds,’’ said Mukherji. Asia dollar bond valuations ...

  Bloomberg Hong Kong’s Securities and Futures Commission plans to look more closely at corporate asset valuations, according to Chief Executive Officer Ashley Alder. Assets such as coal mines or residential property are valued by independent appraisers and their conclusions are used to justify prices paid by companies. It’s time for a “fresh look” at the issue, Alder said at ...

  Bloomberg The first peek into China’s economy this quarter shows momentum cooling slightly as a real-estate frenzy and months of producer-price gains may have peaked. Confidence of small- and medium-sized enterprises, a gauge of manufacturing based on satellite imagery and a steel sentiment index edged down in April. International financial market experts remained confident in the future of the ...

  Bloomberg Auto workers may be getting some extra time off around Independence Day, but they won’t be celebrating. They’ll know it means sales are weak and that profits — and profit-sharing checks — could be shrinking. Manufacturers used to shut plants for a week or two in July for maintenance and to keep inventories in check. As sales boomed ...

  Bloomberg The euro area maintained its growth momentum at the start of 2017, strengthening the case of those pressuring the European Central Bank to sketch out an end to extraordinary stimulus measures. Gross domestic product rose 0.5 percent in the first three months of the year, according to an initial estimate published by the European Union’s statistics office on ...

  ABU DHABI / Agencies In a new report from Ericsson, ICT players who leverage 5G to digitalize industries can capture business worth 6.5 billion US dollars by 2026 in UAE. The report is titled “The 5G business potential – Industry digitalization and the untapped oppor- tunities for operators” and it analyzes the 5G business opportunity that comes from industrial ...

  ABU DHABI / WAM The Follow up Committee of the Initiatives of the UAE President has approved a number of projects totalling AED410 million in implementation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the follow-up of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme ...

  ABU DHABI / WAM First Abu Dhabi bank’s liquidity surged to AED 134.4 billion during the Q1 2017 from AED130 billion by the end of 2016 as per the financial statements released by the new banking entity created after the merger of the National Bank of Abu Dhabi and First Gulf Bank. The considerable cash level reflects the high ...