ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -1.56% to close at 4458.28 points. Accordingly the Market Capitalization has lost AED 11.46 billion attaining AED 723.19 billion. A total of 0.5 Billion Shares were traded with a total value of AED 0.65 billion during the trading session of 03-05-2016 through 7769 transactions. The number of companies …

  Bloomberg HSBC Holdings Plc reported a bigger first-quarter profit than analysts forecast, as Chief Executive Officer Stuart Gulliver guided the Asia-focussed bank through turbulent global markets while paring back costs. Pretax profit fell to $6.1 billion from $7.1 billion a year earlier, the London-based bank said on Tuesday, beating the $4.3 billion average estimate of 14 analysts compiled by …

  Reuters Summit Bank has received approval from Pakistan’s central bank to conduct due diligence on Burj Bank, it said in a stock exchange filing, in the latest bid for the unlisted lender, which is seeking to boost capital through a stake sale. The acquisition of a majority shareholding in Burj Bank would fit the long term strategy of Summit …