News

  Bloomberg Chinese officials plan to ask their American counterparts in annual talks next month about the chance of a Federal Reserve interest-rate increase in June, according to people familiar with the matter. The Chinese delegation will try to deduce whether a June or a July rate rise is more likely, as their nation’s policy makers prepare for the potential ...

  Bloomberg Brazil recorded an unexpected current account surplus last month, the first since April 2009, as a prolonged economic recession curbed imports and companies sent less profits abroad. The surplus in the current account, the broadest measure of trade in goods and services, reached $412 million in April after a revised deficit of $857 million in the previous month, ...

  Bloomberg Oil extended its advance to near $50 a barrel as weekly U.S. industry data showed crude stockpiles declined, easing a glut. Futures rose as much as 1.7 percent in New York on Wednesday, marking a third day of gains. U.S. oil inventories, which are near the highest in 80 years, dropped by 5.14 million barrels last week, the ...

  Bloomberg The World Bank’s International Finance Corporation is more than tripling its investment in Argentina this year after President Mauricio Macri’s government began carrying out economic reforms and resolved a 15-year legal battle with holdout creditors. The IFC will lend about $1.8 billion to Argentina’s private sector this calendar year compared with $500 million in 2015, Liz Bronder, director ...

Bloomberg Climate activists seeking to pull investors into their camp are pushing Exxon Mobil Corp. and Chevron Corp. to limit money spent on exploration in favor of higher dividends and more share buybacks. Shareholders will vote on proposals that would urge the two biggest U.S. oil producers to cut what they spend opening up new oil fields and instead hand ...

CAIRO / WAM The UAE chaired the16th meeting of the Customs Committee on Procedures and Information, which was launched at the headquarters of the General Secretariat of the Arab League. The meeting was chaired by Shatha Abdul Rahman bin Faris, Chairman of Customs Policies Department of the Federal Customs Authority.  

  ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Federation of the UAE Chambers of Commerce and Industry and Chairman of Abu Dhabi Chamber of Commerce and Industry, met with Mohammed Omar Abdullah Belfaqeeh, UAE Ambassador to the Republic of Singapore, and discussed ways of enhancing joint cooperation with Singaporean companies. At the meeting at the ...

  Bloomberg DP World Ltd., the Dubai-owned company that operates ports from China to South America, raised $1.2 billion from the sale of Islamic bonds and said a tender offer to buy back securities received 48 percent more bids than the target. The company sold a seven-year sukuk that will be priced to yield 237.5 basis points, or 2.375 percentage ...

  Sharjah / WAM HH Sheikh Dr Sultan bin Mohammed Al Qasimi, Member of the Supreme Council, Ruler of Sharjah and President of American University of Sharjah (AUS) received Bill McDermott, Chief Executive Officer of SAP, in his office at AUS on Tuesday. The meeting was attended by Hamid Jafar, member of the AUS Board of Trustees and Chairman of the ...

  Dubai / WAM Emirates Islamic, a Dubai-based Islamic financial institution, on Tuesday announced that it had successfully closed the issuance of a US$750 million 5-year sukuk from its US$2.5 billion Certificate Issuance Programme. The issue, which will be listed on NASDAQ Dubai and the Irish Stock Exchange, received overwhelming investor interest from across the globe and marked the bank’s return ...