DUBAI / WAM Dubai Investments has acquired additional 50% stake in Emirates District Cooling (Emicool) from Union Properties for AED500 million. Following this acquisition, Dubai Investments owns 100% stake in Emicool. Khalid bin Kalban, MD and CEO of Dubai Investments, said, “The transaction strengthens Dubai Investments’ portfolio in the utility service domain, growing its asset base, and is expected to ...

Bloomberg After lagging behind other precious metals in 2017, platinum is finally outperforming, and hedge funds are taking notice. Money managers increased their bets on a rally for platinum, a commodity used in pollution-control devices for cars. Investors had been pessimistic on prices until the start of this year, but that sentiment changed as signs of synchronised global growth boosted ...

REUTERS Gulf stock markets mostly edged down on Sunday with Saudi Arabia pulling further away from a major resistance level, although a surge by fuel distributor ADNOC Distribution buoyed Abu Dhabi. The Saudi index slipped 0.3 percent to 7,518 points, pulling away from the July peak of 7,586 points. Dairy company Almarai dropped 1.9 percent after reporting fourth-quarter net profit ...