News

  Washington / Bloomberg Treasuries are falling behind corporate bonds in a reversal from last year, as the US economy shows signs of improvement and oil prices stabilize following a rout. Investors are willing to accept as little as 216 basis points of extra yield to buy company debt instead of Treasuries, the smallest spread in more than a year, ...

  Berlin / Bloomberg The 1.6 billion-euro ($1.8 billion) Merkur offshore wind project in the German North Sea reached financial close with funding from European and US investors. Switzerland-based Partners Group Holding AG invested 250 million euros for 50 percent of the project, according to a statement on Friday. InfraRed Capital Partners Ltd.’s Infrastructure Fund III committed took a 25 ...

  Bloomberg The ruble advanced the most in emerging markets and the cost of insuring Russian debt against default dropped as calls for an easing of tensions in Crimea allowed investors to focus on the rally in oil. The currency climbed 0.7 percent as Germany said it’s suggesting ways to address a renewed confrontation between Russia and Ukraine. The advance ...

  Bloomberg Speculators are the most bearish on the pound since records began as they await data that will give the clearest picture yet of the effects of Britain’s decision to leave the European Union. Sterling touched a one-month low versus the dollar before reports this week on July inflation, retail sales and jobless claims, which are forecast to show ...

  Bloomberg General Atlantic LLC, the US private equity firm that already invested more than 1 billion reais ($318 million) in Brazil this year, plans to keep buying stakes in companies that “are not cheap” even amid the country’s worst economic crisis in a century. General Atlantic is among the few international buyout funds daring to buy Brazilian firms amid ...

  Dubai / WAM The Board of Directors of Dubai Government-owned Emirates National Oil Company (ENOC) have announced a new growth strategy aimed at serving Dubai’s growing energy needs while simultaneously developing an integrated upstream and downstream energy value chain to drive future growth. As part of the five-year strategy 2016-2021, ENOC will focus its efforts and investments on fulfilling Dubai’s ...

  Dubai / WAM The Roads and Transport Authority (RTA), represented by Public Transport Agency, has recently signed an agreement with the British Council whereby prospective taxi drivers will undergo linguistic, psychological and behavioural tests as a pre-requisite for obtaining professional permits. The step comes as part of the RTA’s strategy in forging partnerships to serve its objectives at world-class standards. ...

  Abu Dhabi / WAM Emirates Red Crescent (ERC) launched its annual sacrificial animal campaign nationwide to raise funds for the project set to benefit over 298,600 beneficiaries, of whom 70,100 beneficiaries are in the UAE. The cost of the sacrificial animals is estimated at AED12 million this year. The project, which will see slaughter and distribution of 28,305 sacrificial animals ...

  Abu Dhabi / WAM The Abu Dhabi Education Council (ADEC) organised a one-day orientation session for newly hired teachers who will be joining Abu Dhabi, Al Ain and Western Region schools for the 2016/2017 academic school year. Dr Ali Al Nuaimi, ADEC’s Director-General, welcomed more than 600 Emirati, English Medium and Arabic Medium teachers, who will be teaching in different ...

  Sharjah / WAM The Sharjah Charity International (SCI) has begun the distribution of schoolbags to the enlisted students as part of its ‘Back to School’ Campaign. The foundation launches its annual campaign at the beginning of each new academic year. Abdullah Sultan bin Khadim, Executive Director and Board Member of SCI, said that about 7,000 schoolbags, which include all the ...