News

Bloomberg French business confidence fell its lowest level in more than a year in May as strikes hampered refinery output and limited petrochemical supplies. A gauge of sentiment among manufacturing executives dropped to 97 in May, its lowest since March 2015 and down from 99 in April. The central cut its Q2 growth forecast to 0.2% from 0.3%. Workers at ...

  Bloomberg Denmark’s biggest bank is telling clients to hedge against currency losses that will affect more markets than just the pound as Britain’s June 23 referendum on its European Union membership draws closer. Clients of Copenhagen-based Danske Bank A/S are being advised to hedge for a weaker pound against the euro and a weaker euro against the dollar and ...

  Bloomberg Rosneft OJSC, Russia’s largest oil producer, said profit slumped 75 percent in the first quarter as crude prices hit their lowest point in over a decade. Net income dropped to 14 billion rubles in the first three months of the year compared to 56 billion rubles in the same period a year earlier, according to a statement on ...

  Bloomberg Bank of England Governor Mark Carney told hometown university graduates they are entering a more volatile job market where the potential gains from creating new products are greater and many other industries will be wiped out. Much of the tumult comes from the trauma of the 2008 global financial crisis that has shaken past drivers of economic growth, ...

  Bloomberg Daimler AG’s trucks division, seeking to recover from a profit warning last month, aims to boost future earnings with a plan to cut costs by sharing engines, axles and other components across units in North America, Europe and Asia. Once truck markets return to “a more normal level,” the unit will reach its target of an average 8 ...

  Washington / AFP Whether or not Britons vote this month to quit the European Union, fellow voters across the continent are increasingly sceptical of the benefits of staying in the bloc. A Pew Research Center survey published on Tuesday suggests the June 23 Brexit referendum will be close, with 48 percent of British voters polled unfavorable to Europe and ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, exchanged greetings over the phone with His Majesty King Mohammed VI of the Kingdom of Morocco and His Majesty King Hamad Bin Isa Al Khalifa of Bahrain, on the occasion of the Holy ...

  ABU DHABI / WAM FGB partnered with Zayed University, ZU, to enhance the skills, work experience and career opportunities for UAE nationals in the banking and financial services sector. The bank’s CEO, Andre Sayegh signed a Memorandum of Understanding (MoU) with Professor Reyadh AlMehaideb, Vice President of Zayed University recently, during a ceremony held at Zayed University’s Abu Dhabi ...

  KUWAIT / WAM The oil maritime transport sector needs to be further developed through increased international collaboration and a unified legislative system, the Organisation of Arab Petroleum Exporting Countries (OAPEC) said on Tuesday. In its monthly report obtained by the Kuwait News Agency (KUNA), OAPEC noted that further cooperation between Arab nations is needed to stave off challenges and ...

  DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI) in partnership with global e-commerce platform for SMEs, Alibaba, recently conducted two workshops to emphasise the importance of business-to-business (B2B) e-commerce and to elaborate on Chamber’s role in facilitating e-commerce activities in the MENA region.