News

Bloomberg President Mauricio Macri of Argentina has become a market favourite by undoing many of the heavy-handed policies of his predecessor. But now some bond analysts say that he’s taking a page out of her playbook. Last week, the government said it will change the way it measures the economy, sparking concern that holders of warrants tied to Argentina’s growth ...

Bloomberg Victor Dodig’s overhaul of Canadian Imperial Bank of Commerce is paying off. Total returns and profitability at the former underdog of Canadian banking are top among its peers and its dividend yield is the fattest of the nation’s five largest lenders. With the bank’s domestic operations sharpened, the chief executive officer is on the hunt for a US acquisition ...

DUBAI / WAM Dubai’s retailing market size in 2015 is estimated to have reached US$35.4 billion, witnessing sustained annual growth rates of 3.5 per cent to 7.5 per cent since 2010, according to an analysis by the Dubai Chamber of Commerce and Industry based on data from Euromonitor International, prepared ahead of the World Retail Congress which will take place ...

DUBAI / WAM Ahmed bin Sulayem, executive chairman of the Dubai Multi Commodities Centre (DMCC), revealed on the sidelines of the 6th Global Dubai Tea Forum, the authority’s plans to introduce its own signature high-end tea brand, ‘Shay Dubai’. The new ‘Shay Dubai’ tea will be marketed under different flavours, including Dubai Spirit, Khaliji Blend, and Arabic Breakfast. DMCC is ...

DUBAI / WAM Nasdaq Dubai welcomed the listing of two Sukuk issued by the government of Indonesia with a total value of US$2.5 billion. The total nominal value of Sukuk currently listed on Dubai’s exchanges has now reached US$42.31 billion, strengthening its position as the largest centre globally for Islamic bond listings. The listings support the growth of Dubai as ...

RICHMOND / WAM Saud Al Nowais, Commercial Counselor at the UAE Embassy in Washington, said that the UAE seeks to strengthen its investments in promising agricultural markets in various countries to serve its goals towards enhancing global food security. Speaking during the eighth annual Governor’s Conference on Agricultural Trade, which was opened by Virginia Governor Terry McAuliffe, Al Nowais said ...

DUBAI / WAM Emirates SkyCargo, the freight division of Emirates Airline, further strengthened its extensive route network with the launch of a weekly freighter service to Phnom Penh, Cambodia, starting Wednesday. The new freighter service to Cambodia’s capital is the carrier’s 53rd destination in its worldwide freighter network and the 13th in the Far East. From Phnom Penh, cargo will ...

RITIKA SHARMA / EMIRATES BUSINESS United Arab Emirates’ real estate market is likely to be resilient and register robust growth despite the slump in oil prices. Enthused with upcoming mega events such as ‘Dubai Expo 2020’ and ‘Qatar FIFA World Cup 2022’, region’s real estate industry is to undergo a full-bodied growth by the end of 2016, experts claim. According ...

DUBAI / WAM March data signalled a second consecutive pick-up in the rate of improvement in the health of the UAE’s non-oil private sector. Business conditions improved at the strongest pace in four months, mainly driven by sharper rises in output and new orders. Notably, total new work increased more quickly in spite of a renewed fall in exports.

Dubai / WAM The General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA) introduced the “UAE vision” new system, which allows public to apply for all kind of visa and residency related transactions only via typing service centres approved by the residency department. Major General Mohammed Ahmed Al Marri, Director General of the General Directorate of Residency and foreigners’ ...