Bloomberg Norway’s central bank kept rates unchanged at a record low and said it was “sticking to plans” even as inflation and the krone have come in weaker than forecast. The benchmark deposit rate was held at 0.50 percent, Norges Bank said in Oslo on Thursday. None of the 25 analysts surveyed by Bloomberg had expected any change. Since ...

  Bloomberg The end of the interest-rate increase cycle in South Africa doesn’t mean that the South African Reserve Bank (SARB) will start reducing borrowing costs, Governor Lesetja Kganyago said. “We could be coming to the end of our hiking cycle,” Kganyago said in an interview with Bloomberg TV’s Francine Lacqua on Thursday. “That you are coming to the end ...

  ABU DHABI / WAM Foreign investors secured AED6.4 billion in gains during April, 2017, augmenting the total market value of foreign stocks at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) to AED97.7 billion ($26.6 billion) by end of last month, a 7% increase from AED91.3 billion ($24.8 billion) in March. The growth is attributable to an ...

  ABU DHABI / WAM Borouge and Borealis, leading providers of innovative, value-creating plastics solutions, announced the launch of Quentys, the new umbrella brand created to empower and potentially revolutionise the solar energy industry by making applications more affordable, reliable, and durable. As leading providers of polyolefin compounds for the global wire and cable industry for over 50 years, Borouge ...

  DUBAI / WAM Damac Properties has awarded a contract worth AED40 million to Proscape LLC for the roads and infrastructure works at Vardon cluster within AKOYA Oxygen, a 55-million-square-foot lush green development in Dubai. Mohammed Tahaineh, Senior Vice President of Commercial at DAMAC Properties, said, “We are pleased to award the roads and infrastructure works at Vardon cluster within ...

  Abu Dhabi / WAM The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2017 on Tuesday under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The Board also reviewed Central Bank’s Q1 Report for the year 2016, presented by the Research and Statistics Depart-ment. The report covered international economic developments, ...

  Dubai / WAM The Dubai Chamber of Commerce and Industry (DCCI) hosted a workshop for its members and the business community in Dubai, focussing on the key consumption and e-commerce trends reshaping China’s e-commerce sector, as well as the potential for UAE companies to capitalise on new opportunities in the market. Titled, “Navigating China’s B2C E-commerce Landscape,” the workshop ...

  Abu Dhabi / WAM The Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi), is embarking on a promotional tour to several cities across China in May to capitalise on the growing popularity of the emirate as a tourist destination. Inbound visitor arrivals from China have seen dramatic rises over the past few years, with the number of hotel guest ...

  Abu Dhabi / WAM The 27th edition of Abu Dhabi International Book Fair (ADIBF), concluded on Tuesday in Abu Dhabi after attracting more than 300,000 visitors of all ages and nationalities and catering to avid readers of poetry and literature. Throughout the week, the book fair saw participation from 1,320 exhibitors representing 65 countries. In addition, ADIBF hosted more than ...

  Abu Dhabi / WAM President of Egypt Abdel Fattah El Sisi arrived on Wednesday for a two-day visit to the UAE. He was received at the Presidential Airport by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. President El Sisi was given an official reception, where ...