News

ABU DHABI / WAM In a drive to enhance its status on the local and regional level, the Abu Dhabi Securities Exchange (ADX) will introduce a developed version of the Circuit Breaker System (CBS) starting from Thursday. The improvements on the Circuit Breaker System based on the new method, offer many positive features such as the existence of two levels ...

DUBAI / WAM Dubai’s inflation rate fell 0.34 percent to 1.9 percent in January, compared to December last year, driven by a drop in transport costs, according to new figures released by the Dubai Statistics Centre. The January inflation rate of the Consumer Price Index (CPI) for the emirate showed that transport cost inflation fell 2.66 percent. Housing and utility ...

Dubai / EMIRATES BUSINESS Dubai International Financial Centre (DIFC), the global financial services hub connecting businesses and financial institutions with emerging markets across the Middle East, Africa & South Asia (MEASA), achieved another record year in 2015, was announced on Wednesday. The number of new company registrations at DIFC increased by more than a quarter (27%) compared with 2014, from 242 ...

WASHINGTON / Bloomberg Federal Reserve policy makers are beginning to worry that a corporate-credit squeeze will constrict the economic expansion. With banks tightening standards on business loans and investors demanding higher yields on some corporate debt, companies may find it harder and more expensive to raise the money they need to grow. The concern is that could prompt them to ...

Ottawa / Bloomberg Finance Minister Bill Morneau said economic conditions will make it difficult for the new Liberal government to meet a campaign pledge to balance the budget by the end of its mandate. Morneau, speaking to reporters in Ottawa, said the government’s main objective is to bolster growth in the economy while seeking to balance the budget in the ...

Rio De Janeiro / Bloomberg Dilma Rousseff’s supporters are almost cheerful, missing no opportunity to proclaim that the political crisis that shook Brazil in 2015 and led to impeachment proceedings against the president has lost momentum. In private, they are worried. Their main concern is that an almost two-year probe into a scheme of kickbacks in return for political favors ...

New York / AFP Argentina has reached a deal to settle with a group of holders of eurobonds it defaulted on 15 years ago, a US court mediator in its debt battle said. Mediator Daniel Pollack announced that the country reached a deal in principle with the “Brecher Class” of “holdout” creditors, to repay them 100 percent of the principal ...

Ottawa / Bloomberg It’s been a dismal start to the year for Canada’s newspapers, and investors see little sign of a turnaround. Postmedia Network Canada Corp., owner of many of the country’s newspapers, announced in January it was merging newsrooms in cities where it has two papers, eliminating dozens of jobs. Torstar Corp., publisher of the country’s largest circulation paper, ...

DUBAI / Emirates Business Dubai Customs has effectively contributed to the growth of food trade by providing quality Customs facilities for this sector, and ensuring speedy customs clearance of all its shipments, in order to cater to the food needs of the community without unnecessary delays. Figures released by Dubai Customs, in parallel with Gulfood 2016; the world’s largest annual ...

ABU DHABI / Emirates Business Emirates Foundation, an independent philanthropic organisation set up by the Abu Dhabi Government to facilitate public-private partnerships for empowering youth across the UAE, and Abu Dhabi Islamic Bank (ADIB) have partnered in support of financial literacy through Emirates Foundation’s programme, ‘Esref Sah’, which aims to educate youth on ways to manage their current and future financial ...