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Bloomberg Some of the biggest shareholders of Deutsche Boerse AG are cautioning management not to overpay for London Stock Exchange Group Plc if a counteroffer emerges, according to people familiar with the matter. Intercontinental Exchange Inc. is contemplating a bid for LSE, which last week agreed to a deal with Frankfurt-based Deutsche Boerse. The German exchange would get 54 percent ...

Frankfurt / AFP Global uncertainties will shave around 0.1 percentage point off growth in Germany this year, but Europe’s economic powerhouse remains in a moderate uptrend, an expert panel said on Wednesday. The German Council of Economic Experts, known as the five “wise men”, said it is forecasting gross domestic product (GDP) growth of 1.5 percent this year — fractionally ...

Bloomberg London’s finance industry would “flourish mightily” if Britain votes to leave the European Union in the referendum on June 23, London Mayor Boris Johnson told lawmakers. Citing discussions with unidentified senior bankers, Johnson, a leading opponent of Prime Minister David Cameron’s campaign to keep the U.K. in the 28-nation bloc, said support for staying in the EU is “shallow” ...

Bloomberg Chancellor Angela Merkel is poised to back increases in German spending on defense and infrastructure in a budget plan that seeks to address global risks and the refugee crisis that’s her biggest domestic challenge. The blueprint, set for approval by Merkel’s Cabinet, foresees a 2.7 percent increase in spending next year and balanced federal budgets through 2020, according to ...

Paris / AFP French luxury goods group Hermes said on Wednesday that net profit rose to skim the billion-euro mark last year despite an economic slowdown in China, the Paris terror attacks and currency fluctuations. Hermes, known for its leather handbags such as the Birkin named for the British singer and its silk square scarves, posted growth across the regions ...

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, on Tuesday ordered 2,048 houses and 4,495 for citizens in the emirate of Abu Dhabi, following directives from President His Highness Sheikh Khalifa bin Zayed Al Nahyan. These include 1,463 housing units in Abu ...

ABU DHABI / WAM By the end of Q3 of 2015, Abu Dhabi’s GDP (with fixed prices) was about AED200 billion, with a growth rate of 5.5%, compared to the same period during 2014, according to the latest estimates from the Abu Dhabi Statistics Centre. Through the outstanding performance of its activities, the non-oil sector contributed to strengthening Abu Dhabi’s ...

ABU DHABI / WAM Abu Dhabi National Oil Company (ADNOC) will host the 24th Annual Middle East Petroleum and Gas Conference (MPGC 2016) in Abu Dhabi, UAE from April 24-26, 2016. In a company statement, ADNOC said preparations are rapidly gathering steam with ministers, super major CEOs, oil companies’ senior management from ADNOC and its Group of Companies, and other ...

ABU DHABI / WAM Wholesale and retail trade in the UAE is an important sector, constituting more than 11 percent of the gross domestic product(GDP) of the country and nearly 30 percent of the GDP of the Emirate of Dubai. Hamad Buamim, President and CEO, Dubai Chamber, in a statement to Emirates News Agency, WAM, announced that Dubai will host ...

ALKESH SHARMA EMIRATES BUSINESS Smartphone boom seems taking a heavy toll on the traditional slate tablets in the region. This boom is facilitated by affordable smart handsets, priced as low as US$80, and dual-SIM devices. A recent research revealed that tablet shipment in the Middle East and Africa (MEA) region has dipped by 3.1 percent year-on-year in 2015. Total shipment ...