News

  Bloomberg Investors should sell Mexico’s peso and buy dollars and euros amid a widening current account deficit in Latin America’s second-largest economy, according to Citigroup Inc. While Mexico’s peso has tumbled the most among major currencies this year on bets that higher borrowing costs in the U.S. will reduce the appeal of riskier assets, Citigroup says that local economic ...

  Bloomberg Prudential Financial Inc. says debt from Latin America is still attractive after a rally this year, with bonds from PetroleosMexicanos SA and sovereign securities from Argentina among the most alluring options. David Bessey and Cathy Hepworth, money managers who help oversee $26 billion in emerging-market debt at Prudential Financial, said that the extra yield investors get to own ...

  Bloomberg Coca-Cola Co. and bottler Coca-Cola Femsa SAB agreed to buy Unilever’s AdeS soy-based beverage business for about $575 million, expanding the beverage giant’s sales of non-soda drinks and boosting its business in Latin America. After the takeover is completed, AdeS will become part of the non-carbonated beverage platforms that Coca-Cola Femsa and Coca-Cola share in its franchise territories, ...

  Bloomberg The Federal Reserve should raise interest rates gradually despite weak jobs data, Fed Cleveland Bank President Loretta Mester said. U.S. economic growth is picking up, inflation is moving toward target and the country is at full employment, Mester told reporters in Stockholm on Saturday. “I still believe that in order to achieve our monetary policy goals a gradual ...

  Los Angeles / AFP He called himself “The Greatest,” and few disagreed. Muhammad Ali — who died on Friday in Arizona at age 74 — was one of the iconic sporting heroes of the 20th century, the three-time heavyweight champion of the world who said he could “float like a butterfly, sting like a bee.” Ali, who came of ...

  GENEVA / WAM GCC countries are doing their part to reduce poverty by creating 17 million job opportunities for expat workers, the Joint GCC Cabinet told the International Labour Conference in Geneva. Speaking at the 105th session of the conference, Dr. Moufarrej bin Sa’ad Haqbani, Saudi Arabia’s Minister of Labour and Social Development, said that it is estimated that ...

  Dubai / Emirates Business The Department of Economic Development (DED) in Dubai, and Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced the official launch of the first-ever ‘Consumer Card’ in the UAE, a co-branded credit card dedicated to protect the rights of consumers and providing them with savings on their daily purchases. The card is ...

Sharjah / Emirates Business Sharjah Commerce and Tourism Development Authority (SCTDA) hosted a group of 100 top travel agents and a TV crew from Ukraine, who were flown in by Air Arabia to spend four days in the Emirate of Sharjah. The local tourism stakeholders were given an opportunity to meet the group and present their products and services at ...

  Geneva / WAM   The third review of the UAE’s trade policies and practices under the World Trade Organisation (WTO) began at the organisation’s office in Geneva and will last three days in the presence of fellow WTO member countries. The UAE delegation is headed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, in the presence of Ambassador ...

  Dubai / Emirates Business The Department of Economic Development (DED) in Dubai, and Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced the official launch of the first-ever ‘Consumer Card’ in the UAE, a co-branded credit card dedicated to protect the rights of consumers and providing them with savings on their daily purchases. The card is ...