News

  Bloomberg Discovery Ltd, South Africa’s third-largest insurer by market value, said it has set up a partnership with Japan’s Sumitomo Life Insurance Co and SoftBank Group Corp to develop and introduce products for the world’s third-largest economy. Discovery’s Vitality program, which rewards members for exercising and eating healthy, will be introduced through Sumitomo and use SoftBank’s technological and digital ...

  Bloomberg India’s market regulator is forecasting initial public offerings to reach a record in the year ending March, as improved corporate governance standards and an equities rally attracts investors. Twenty one first-time sales raised 49.4 billion rupees (US$735 million) in the quarter ended June, more than in any comparable period since 2010, data compiled. Eighteen offerings seeking 61 billion ...

  Bloomberg U.S. stocks rose, sending the S&P 500 Index to a record, and the dollar strengthened as speculation mounted that central banks from Japan to Europe won’t be in a rush to add to unprecedented stimulus. Emerging-market assets and commodities retreated. The S&P 500 capped a fourth weekly gain as a preponderance of earnings reports topped estimates. Verizon Communications ...

  Bloomberg Christine Lagarde is likely to avoid jail time and keep her job as head of the IMF after she was ordered to stand trial in France on charges that carry a potential prison term. Lagarde, 60, on Friday lost a bid to challenge a December decision to be tried for alleged negligence during her time as French finance ...

  Bloomberg The pound’s recent resilience may prove short-lived as data showed the first indications that the U.K. economy may be faltering one month after Britain voted to leave the European Union. Inflation and labor figures covering the pre-Brexit period, released earlier this week, beat analyst predictions and helped the currency climb from a 31-year low versus the dollar set ...

  Bloomberg Husky Energy Inc. is running into difficulty containing and cleaning up a 1,570-barrel oil pipeline spill that entered the North Saskatchewan River in Canada this week, after rising water levels compromised its initial plan to capture the release. The company responded when a sheen on the water indicated a spill, and discovered it was from the failure of ...

  Ottawa / AFP Largely driven by housing, Canadian consumer prices rose 1.5 percent in June over a year ago, the same rate recorded in May, the Canadian government reported on Saturday. The pace fell short of analyst forecasts, which had predicted a rise in the consumer price index of 1.7 percent. Housing prices were up 1.6 percent after rising ...

  Abu Dhabi / Emirates Business A UAE delegation led by the Ministry of Economy concluded its productive participation in the activities of the 14th UN Conference on Trade and Development held in the Kenyan capital of Nairobi from July 17 till 22, 2016. The group was headed by H.E. Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs, ...

  Abu Dhabi / WAM The Asian Football Confederation (AFC) will hold its 2016 AFC Annual Awards Night ceremony at the Emirates Palace Hotel in Abu Dhabi on 1st December. The event will be hosted by the United Arab Emirates Football Association (UAEFA) and the Abu Dhabi Sports Council (ADSC) who signed an agreement with the AFC today in Kuala Lumpur ...

  Dubai / WAM Dubai Electricity and Water Authority (DEWA) won the International Star for Leadership in Quality in the Gold Category from Business Initiative Directions (BID) for outstanding excellence and quality, in accordance with the QC100 criteria, for economic growth, leadership, technical development, and innovation. The Award was received by Marwan Al Zaabi, Vice President of Corporate Excellence at DEWA, ...