News

  Bloomberg A $62 million construction project on the banks of the Danube River is the biggest bet to date that Hungary’s crumbling public health-care system guarantees a bright future for private hospitals. Deteriorating conditions at state hospitals, where patients routinely need to bring their own toilet paper, have pushed people to pay for care outside the communist-era relic. Private ...

  Bloomberg Presumptive Republican presidential nominee Donald Trump said his chief economic concern is giving the middle class a sizable tax cut, while other proposals, including lowering taxes on businesses and the wealthy, were starting points for negotiation. “I have to negotiate now with senators and congressmen,” Trump said during an interview that aired on Sunday on NBC’s “Meet the ...

  Bloomberg Brazil’s consumer inflation accelerated more than all analysts forecast in April, pushing the market to temper bets the central bank will lower interest rates. The benchmark IPCA consumer price index climbed 0.61 percent after a 0.43 percent rise the previous month. That was more than the median forecast for a 0.54 percent increase from 44 economists surveyed by ...

  Bloomberg At times, Chile’s economy has appeared super-human. Rapid economic growth, low inflation, trade surpluses and a strong currency have all combined to make it the wealthiest nation in South America, overtaking traditionally richer economies such as Argentina and Uruguay. That was achieved even as the government amassed savings of more than $23 billion in two sovereign wealth funds. ...

  Bloomberg Brenntag AG’s first-quarter profit missed analyst estimates after the world’s largest distributor of chemicals was hit by a currency devaluation in Venezuela and slump in demand for additives used by the oil and gas industry. Earnings were “surprisingly low” due to weakness in the Venezuelan currency, oil and gas and the North American industrial environment. Brenntag stuck to ...

  DUBAI / Reuters Most major Gulf stock markets rose on Sunday in response to a modest recovery on Wall Street and in oil prices at the end of last week, while a sweeping reorganisation of Saudi Arabia’s economic policy-making apparatus boosted shares there. The Saudi stock index closed 0.2 percent higher after rising as much as 1.0 percent at ...

  ABU DHABI / WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, launched a national campaign entitled: ‘Cohesive Family 2021’, to strengthen family ties and endorse the family’s core role in preserving the identity and culture of society. His Highness Sheikh Mohammed bin Rashid pointed ...

  Ghazni / AFP At least 73 people were killed on Sunday when two passenger buses and an oil tanker burst into flames in a head-on collision in eastern Afghanistan, health officials said, in one of the worst road accidents in the war-battered nation. Many of the dead, including women and children, were burned beyond recognition and dozens of others ...

  ABU DHABI / WAM The UAE and the Republic of Latvia on Sunday signed an economic cooperation agreement to strengthen economic, trade and technical cooperation between the two countries. Sultan bin Saeed Al Mansouri, the UAE Minister of Economy, and Arvils Aseradens, Minister for Economics and Deputy Prime Minister of Latvia, signed the agreement in the presence of Eng. ...

  DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and WaterAuthority (DEWA) received a delegation from engineering firm ASEA Brown Boveri, ABB. The delegation included Claudio Facchin, President of the Power Grids division and Member of the Group Executive Committee, Noaman Amjad, Group Senior Vice President, Global Head of Marketing and Sales and Global Head of ...