News

  Bloomberg T-Mobile US Inc. reported profit that exceeded analysts’ estimates as the third-largest U.S. wireless carrier posted a seventh straight quarter of adding more than 1 million new monthly users with features like free video streaming and mobile data rollover. First-quarter earnings were 56 cents a share, the Bellevue, Washington-based company said in a statement Tuesday. Adjusted earnings before ...

  Bloomberg Brazil’s Real advanced on speculation that President Dilma Rousseff will be impeached and as the central bank refrained from moving to weaken the currency. Stocks dropped as a decline in oil and iron-ore prices dimmed the outlook for Brazilian producers. The currency strengthened 0.2 percent to 3.5582 per dollar, extending its gain this year to 11 percent, the ...

  Bloomberg It’s been a wild few weeks in the agriculture markets. Floods in Argentina and drought in Brazil have sent futures markets from Chicago to Paris into a tizzy, with corn, soybean and wheat prices surging in the first half of last week before slumping back down. While Louis Dreyfus Co.’s chief executive officer has said 2015 was defined ...

  Bloomberg Argentina is considering submitting a bill to congress that would allow the state pension manager to sell as much as 70.6 billion pesos ($5 billion) of shares in publicly traded companies, according to a person familiar with the government’s plans. President Mauricio Macri’s government may submit the proposal before July or issue a decree to modify the pension ...

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched on Monday the Dubai Autonomous Transportation Strategy, which aims to transform 25% of the total transportation in Dubai to autonomous mode by 2030, saving AED 22 billion in annual economic costs. He said, “Dubai is ...

  Riyadh / AFP Saudi Arabia said on Monday it would create the world’s largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy. The announcement of the long-term reform programme, dubbed “Saudi Vision 2030”, marks the beginning of a hugely ambitious attempt to move Saudi Arabia beyond ...

  ABU DHABI / WAM Abu Dhabi National Oil Company (ADNOC) and its diverse group of 21 subsidiaries, is participating in the Offshore Technology Conference, OTC 2016, which is taking place in Houston, Texas, from May 2-5. In addition to gaining technical knowledge and meeting with energy industry experts from around the world, the ADNOC delegation will also promote the ...

  ABU DHABI / Emirates Business Abu Dhabi is set to host the world’s leading cruise line executives when they meet in the emirate for the return of the annual Seatrade Middle East Cruise Forum this December. The forum is being organised and managed by Seatrade, planners of cruise industry events worldwide, and brought to the emirate by Abu Dhabi ...

  SHARJAH / WAM A UK delegation representing seven leading universities paid a visit to Sharjah Electricity and Water Authority, SEWA, as one of the leading world class organisations selected as best sustainability and environment models to be taught at several UK universities. The aim of the delegation’s visit to SEWA is to exchange views about the possibilities of initiating ...

  Dubai / EMIRATES BUSINESS Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life and health insurer, during its Annual General Meeting (AGM) voted for a proposed cash dividend of AED 8 million, equating to 5.33% of its paid-up capital. The Company’s first ever dividend payout, proposed by the board of directors, follows a 42% uplift in Net Profit for the ...