News

  WAM Kuwait’s exports totaled about KD 19 million in April, with 75 percent (KD 14 million) going to Arab states and 25 percent for the rest of the world, according to a report by Kuwait’s Ministry of Commerce and Industry. According to Kuwait News Agency, (KUNA), Iraq had the biggest share of Kuwaiti Arab exports with 81 percent (KD ...

  Jeddah / TNS The Eid Al-Fitr holiday is not only a great occasion for refreshing one’s faith and social relations, but is also a good length of time for Saudis and expatriates alike to take an extended holiday in which they can spend quality time with family and friends. At this time of year, a major attraction in the capital ...

  Bloomberg The political chaos since the U.K.’s vote to leave the European Union should be more of a concern for Electricite de France SA’s £18 billion ($23 billion) Hinkley Point nuclear power project than the slump in sterling. The drop in the pound to a three-year low against the euro will shave just a small fraction off the anticipated ...

  Bloomberg German government bonds fell for a second day as greater political clarity in the U.K. and the prospect of a boost to monetary stimulus globally supported stocks and reduced demand for the safest assets. Yields on the nation’s 10-year bunds, the euro zone’s benchmark government securities, climbed to the highest in a more than a week — days ...

  Bloomberg A flood of soured assets will come on the market in Italy if a referendum to overhaul the political system is approved in the autumn, said Keith Breslauer, founder and managing director of Patron Capital Partners. “The opportunity in Italy is far greater” than in the U.K. after it voted to leave the European Union, Breslauer said in ...

  Bloomberg Daimler AG rose the most in three weeks after the company solidified its lead in the luxury-car market and said it’s confident of reaching this year’s underlying profit goals, despite more than 1 billion euros ($1.1 billion) in one-time costs in the second quarter. Adjusted earnings before interest and taxes rose 5.6 percent to 3.97 billion euros in ...

  Abu Dhabi / WAM The General Index for Consumer Confidence in Abu Dhabi’s economic performance during Q1 of 2016 recorded about 115 points on average, reflecting continuous optimism among the consumers of different demographic and social segments towards the economic conditions in Abu Dhabi. This further reflects consumers’ confidence in Abu Dhabi’s economic capabilities to accommodate the current economic challenges ...

  Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, was honoured with the prestigious Excellence in Practice Citation Award by the Association for Talent Development (ATD). The bank won in the Organisational Learning & Development and Learning Technologies categories for its ‘CX Learning Initiative’ that aims at inculcating the customer-centric philosophy of ...

  Dubai / WAM The Emirates NBD Dubai Economy Tracker said that business conditions strengthened in June amid the fastest rise in new work since March 2015. June data pointed to a sustained recovery in growth momentum across the Dubai private sector, led by improving business conditions in the travel and tourism and wholesale and retail sectors. At 54.6, up slightly ...

  Abu Dhabi / WAM In the presence of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture and Knowledge Development, Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, on Monday unveiled the first mural artwork in Al Raha Beach, Abu Dhabi. Visible from the roads leading into Abu Dhabi, the artwork is an expression of the ...