News

  Bloomberg Cheaper oil prices since 2014 have probably been of little net benefit to the global economy and may even have been a drag on growth, according to the European Central Bank. “While most of the oil-price decline in 2014 could be explained by the significant increase in the supply of oil, more recently the lower price has reflected ...

  Bloomberg Germany’s 10-year bond yields are set to climb from the all-time low reached last week, according to economists surveyed by Bloomberg. Benchmark yields fell to a record 0.009 percent on Friday. While economists have reduced their year-end yield estimates since January, they don’t foresee that level as sustainable. The median forecast of 19 economists in a Bloomberg survey ...

  Bloomberg Jean-Claude Juncker and Vladimir Putin may offer clues about the way forward for a controversial project to expand Russia’s gas interconnections with Europe this week. The European Commission president meets the Russian leader at a conference in St. Petersburg and may discuss ways a Gazprom PJSC-led consortium could be allowed to double the capacity of the Nord Stream ...

  Bloomberg The 32-year-old FTSE 100 Index, synonymous with the U.K. stock market, is about to get some competition. The benchmark’s four-letter moniker is local shorthand for laypeople and professionals to describe the daily gyrations of the nation’s $3.3 trillion equity market. Now, Lenexa, Kansas-based rival Bats Global Markets Inc. is now trying to muscle in on the FTSE 100’s ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a congratulatory cable to Vladimir Putin, President of the Russian Federation, on the occasion of Russia Day. 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 ...

  DUBAI / AFP A rogue drone disrupted air traffic at Dubai International Airport for more than an hour on Saturday, said the operator of one of the world’s busiest aviation hubs. “DXB airspace was closed due to unauthorised UAV activity for 69 minutes resulting in a number of diversions,” Dubai Airports said in a statement on its Twitter account, ...

  Dubai / EMIRATES BUSINESS Zurich Global Life, Middle East & Africa (Zurich) and Simplylife from Abu Dhabi Commercial Bank (ADCB) signed a five-year strategic cooperation to market and distribute protection products through Simplylife’s distribution network in the UAE. Simplylife is a sub brand of ADCB launched two years ago and has established itself as a consumer finance brand focusing ...

  ABU DHABI / WAM The Ministry of Finance (MoF) signed a cooperation agreement with the UAE Central Bank at its premises in Abu Dhabi. The agreement aims to enhance cooperation in areas of joint work, including monetary statistics and government financial and banking information. The agreement was signed by Younis Haji Al Khoori, Under-Secretary of the MoF, and Mohammed ...

  Tokyo / Tribune News Service Japan’s Land, Infrastructure, Transport and Tourism Ministry has decided on a plan to relax the floor area ratio of buildings by 1.5 times, or up to an additional 300 percent, depending on respective conditions. The move is so that hotels can be rebuilt as bigger hotels on the same land area, The Yomiuri Shimbun ...

  New Delhi / Tribune News Service The Enforcement Directorate (ED) said it has attached properties worth Rs.1,411 crore of business tycoon Vijay Mallya and his company United Breweries (Holding) Ltd in a case of alleged diversion of Rs.430 crore from an IDBI Bank Ltd loan to his Kingfisher Airlines Ltd to purchase properties overseas. ED, on its Twitter account, ...