DUBAI / WAM Nakheel, a property developer based in Dubai, on Wednesday announced a net profit of AED2.51 billion for the first six months of 2018. ‘‘Nakheel handed over 451 units to customers in the first six months of the year. The company’s non-development businesses — retail, leasing, hospitality and asset management – all performed strongly. Annual revenues from these …

DUBAI / Emirates Business GCC sovereign issuance has had another strong first half, with the sovereign bond transactions of over $30 billion in the hard currency market, according to Fisch Asset Management. The Zurich-based asset manager believes that full-year issuance could surpass last year’s levels and reach $50 billion in 2018. Philipp Good, CEO at Fisch Asset Management, said: “This …

Bloomberg US stocks headed for their worst day in two months, joining a broad decline in global equities as disappointing earnings from Chinese internet giant Tencent Holdings Ltd. roiled technology shares and a plunge in commodities weighed on resource producers. Crude tumbled to below $65 a barrel after a report that American stockpiles rose the most since March 2017. The …