Bloomberg Israel’s largest money managers are turning to the country’s stock market as they bet a five-month corporate bond rally is coming to an end. Equities have started to erase the steepest discount to MSCI World peers in 18 months, while the Tel-Bond 20 index is on course for its worst month since January, according to data compiled by ...
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Tunisia’s new cabinet keeps old security chiefs in place
Bloomberg Tunisia’s prime minister-designate unveiled a new cabinet that keeps holdovers from the old government in key security posts while bringing in new faces to try to revive the economy. Youssef Al-Shahed’s appointments followed more than two weeks of consultations since parliament dismissed his predecessor, Habib Essid, over the country’s weak economic performance. Shahed retained seven key ministers from ...
Read More »Oil gives pause to Kazakhstan’s wealth fund on asset sales
Bloomberg The crash in crude prices may have nudged Kazakhstan toward its biggest wave of privatization in history, but its wealth fund is now willing to bide its time for a recovery in oil to take hold. Samruk-Kazyna, with assets worth over $64 billion, is in no hurry to kickstart the process, waiting until oil prices recover and Russia ...
Read More »China’s diesel exports rise to record as flooding damps demand
Beijing / Bloomberg China’s diesel exports rebounded to a record in July as severe flooding in some parts of the country curbed domestic fuel demand. The world’s largest energy consumer exported 1.53 million tons of diesel last month, a 39 percent jump from June and beating the previous record in May, according to data posted Sunday on the website ...
Read More »â€˜Rural India to become the next driver of e-commerce’
New Delhi / Bloomberg A surge in internet connectivity in rural India, home to some 870 million people, will lead much of the nation’s e-commerce activity to move into regional areas during the rest of the decade, according to a report by Boston Consulting Group. The number of web-connected rural consumers will more than double to 315 million by ...
Read More »Vanke profit gains on strong sales amid ownership fight
Beijing / Bloomberg China Vanke Co., the developer at the center of a battle for control, posted a 10 percent increase in first-half profit as a home-market recovery boosted sales, helping offset uncertainties over the company’s future because of the ownership struggle. Net income at the nation’s largest residential developer climbed to 5.35 billion yuan ($804 million), or 0.48 ...
Read More »DEWA awards AED16.3mn desalination plant contract
Dubai / WAM Dubai Electricity and Water Authority (DEWA) awarded an international company with a contract for advisory services to develop a new plant to desalinate seawater using reverse osmosis at the Jebel Ali Power Station (JAPS). This is a key step to realize the Dubai Plan 2021. DEWA adopts an integrated strategy to enhance Dubai’s position as an ...
Read More »Musanada completes upkeep of 289 schools
ABU DHABI / WAM Abu Dhabi General Services Company (Musanada) announced the completion of preventive and corrective maintenance of 289 schools across the Emirate of Abu Dhabi, according to the action plan to raise readiness in preparation for the delivery to the Abu Dhabi Education Council, before the start of the new academic year 2016/2017. Eng. Hilal Abdullah Al ...
Read More »UAE leaders greet President of Hungary on national day
ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan sent a congratulatory cable to President of the Republic of Hungary, Janos Ader, on the national day of Hungary. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown ...
Read More »Ammar Al Nuaimi issues resolution on government indicators system
Ajman /Â WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Ajman Crown Prince, Chairman of the Executive Council, issued a resolution on the government indicators system regarding the strategic roadmap of Ajman Vision 2021. The resolution calls for implementing the government indicators system through data collection, analysis and review to support the decision-making, as well as identify normative and appropriateness ...
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