News

  Bloomberg Last week’s $1.3 billion rout in exchange-traded funds focused on emerging markets engulfed even Mexico, where a stellar earnings season was overshadowed by concern that global growth is slowing. Traders pulled $155.2 million from the nation’s flagship iShares MSCI Mexico Capped ETF in the five-day period ending May 6, the most among major developing nations after China, according ...

  Bloomberg Argentina’s Grupo Supervielle SA, controller of lender Banco Supervielle SA, is seeking to raise about $190 million in what is set to be the country’s first initial public offering since President Mauricio Macri took office. The bank expects to sell American depositary receipts for $11 to $13 each and issue common shares in Argentina for $2.20 to $2.60 ...

  Bloomberg A bad start to the year for Canadian natural gas producers is getting worse after wildfires in northern Alberta knocked out oil-sands operations that represent a key source of demand. Spot gas prices in Western Canada have been cut by more than half after oil-sands developers curtailed about 40 percent of their supply, reducing the amount of gas ...

  Bloomberg Vale SA, the world’s biggest iron-ore producer, will consider the sale of $10 billion of its best assets by the end of next year as it seeks to reduce its debt load amid sluggish demand. The Rio de Janeiro-based company also will try to raise $4 billion to $5 billion this year by selling such “non-core” businesses as ...

  Bloomberg Brazil’s real rose as the Senate gears up for a vote that would force President Dilma Rousseff out and into an impeachment trial she appears unlikely to survive, even as the central bank intervened to weaken the currency. The real strengthened 0.4% to 3.4639 per dollar in Sao Paulo as the monetary authority announced it would offer 20,000 ...

  ABU DHABI / WAM The Emirate of Abu Dhabi on Tuesday announced that it has successfully issued its benchmark dual-tranche 5 and 10 years, US$ 5bn bonds. The 5-year Bonds was priced on 25th April 2016 at a yield of 2.218%; the 10-year Bonds with a yield of 3.154% with a spread of 85bps and 125bps respectively, over the ...

  DUBAI / WAM The Emirates Group released its 2015-16 annual report, announcing that the group posted an AED8.2 billion (US$2.2 billion) profit for the financial year ending 31st March, 2016, up 50% from last year. The group’s revenue reached AED93 billion (US$25.3 billion), a decrease of 3% over last year’s results, and the group’s cash balance increased strongly to ...

  DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) discussed investment opportunities in energy projects and cooperation with Swiss companies operating in the UAE. This came at a meeting which was attended by Saeed Mohammed Al Tayer, MD & CEO of DEWA, and attracted 100 Swiss companies under the theme ‘Business Innovation’ at the Sustainable Building in Al ...

  DUBAI / WAM The Dubai Financial Services Authority(DFSA) fined two individuals AED205,520 each for failing to act with due skill, care, which caused an Authorised Firm to breach the DFSA’s Anti-Money Laundering(AML) Rules. Raphael Lilla and Kapparath Muraleedharan were both Licensed Directors and members of the Board of Directors at a DFSA Authorised Firm. In August 2014, Lilla and ...

  Dubai / Emirates Business HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA) Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, on Tuesday inaugurated the 3rd edition of the World Travel Catering and Onboard Services Expo Middle East (WTCEME) with strong participation from more than 70 international travel ...