Uncategorized

  Bloomberg US banks reporting their first profits under Donald Trump’s presidency are showing a split: Wall Street businesses are faring far better than some of those serving Main Street. The nation’s two biggest trading firms — JPMorgan Chase & Co. and Citigroup Inc. — posted surprisingly strong revenue from buying and selling securities in the first quarter, when political ...

  Riyadh / WAM The workings of the second group of the UAE-KSA Joint Determination Retreat, organised by the UAE-Saudi Co-ordination Council, were launched in Riyadh on Thursday, with the attendance and participation of ministers, high officials and general managers from both countries. The retreat came from the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and his ...

  Dubai / WAM Crown Prince of Dubai and Chairman of Executive Council HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired on Thursday morning a meeting of the council at Emirates Tower, in the presence of Chairman of Dubai Civil Aviation and Chief Executive of Emirates Group H.H. Sheikh Ahmed bin Saeed Al Maktoum. The meeting reviewed various topics ...

  Bloomberg Relying on natural gas to fuel Europe’s second-largest economy was never going to be easy for the UK, even before Brexit. Britain’s once vast North Sea gas fields are fading, and even after a decade of trying, the island nation hasn’t replicated the fracking boom that turned the US into the world’s largest producer. Gas imports have jumped ...

  Bloomberg The view from the biggest coal plant in the US West is spectacular: red rock buttes and wide desert vistas that change color with the movement of the sun. Set against this backdrop, the station’s towering smoke stacks seem to disrupt the serenity of the landscape, its three concrete pillars spewing a perpetual stream of heat and gas. ...

  RAS AL KHAIMAH / Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA), which develops the emirate’s tourism infrastructure and initiates its domestic and overseas promotions, conducted a media and trade roadshow in India this week to outline its 2017 strategy for the Indian market. Visitors from India to the emirate in Q1 2017 grew 35 percent, while the ...

  DUBAI / WAM The role of commercial arbitration in settlement of disputes and in ensuring an investment-friendly environment was the main topic of discussion at a meeting held by the Dubai International Arbitration Centre (DIAC), with a high-ranking Chinese delegation. The meeting touched on ways of exchanging expertise in areas of arbitration, being an ideal alternative to litigation in resolving ...

  Bloomberg Drawn to India by an explosion in metro-rail projects, Alstom SA and Bombardier Inc are now poised to use the nation known for being the world’s back-office as a manufacturing export hub. The French and Canadian multinationals set up manufacturing and engineering operations between 2008 and 2010 to tap into India’s rapidly-growing urban transportation market and will now ...

  Bloomberg PetroVietnam Power Corp., Vietnam’s second-largest power producer, said the sale of a 49 percent stake to strategic investors and through an initial public offering could fetch about $600 million. PV Power, as it is better known, is open to selling as much as 60 percent of the company, contingent on government approval, according to a document posted on ...

  Bloomberg The UK is eyeing a deal with the US to give London-based banks free access to Wall Street, International Trade Secretary Liam Fox said as he predicted Britain’s economy would thrive even without a Brexit deal. In an interview with Bloomberg, Fox said he wanted to open up commerce with the US “in every sector” including financial services, ...