Bloomberg Hedge funds are piling into the same shares that zapped their returns at the start of the year. They just added momentum stocks for a fifth consecutive quarter, according to an Evercore ISI analysis of 13F filings with the Securities and Exchange Commission. Those shares, loosely defined as the ones that went up the fastest in the past ...

  Bloomberg After overtaking the U.S. as the world’s largest wheat exporter, Russia is becoming a bigger part of the corn market with expectations for a record crop. Russian farmers will boost production to 13.7 million metric tons in the season starting in October, an all-time high, according to Moscow-based consultant SovEcon. While the nation’s corn shipments are still a ...

  RITIKA SHARMA / Emirates Business When a recent international report rated Abu Dhabi as 73rd best business tourism destination, a rank up by 35 places from last year, the UAE hospitality industry was the first one to rejoice. Not only does this rank affirm UAE’s position as a top business tourism hub, it also reflects the strong revenues that ...

  Emirates Business Dhofar Global, a leading supplier of hygiene care products in the Middle East, has announced its participation at the Commercial Cleaning & Hygiene — the Middle East Cleaning Expo, which is taking place at the first ever Community Management Week from May 23 to 24, at the Dubai World Trade Centre. Alongside displaying its innovative range of ...

  Dubai / Emirates Business E-marine, the principal provider of submarine cable solutions in the Middle East, officially launched its newest cable-laying vessel in Dubai, to support its ambitious expansion plans and boost capacity to maintain vital cable infrastructure in the Middle East and East Africa region. CS Maram is E-marine’s fifth vessel to be added to its cable laying ...

  Dubai / Emirates Business Once again, Mashreq won at the Banker Middle East Industry Awards, scooping three awards in 2016. The first award was ‘Best Regional Retail Bank’, which Mashreq has been privileged to receive four times in the last five years. The Bank also received the ‘Best Banking Innovation’ award which is the second time Mashreq wins this ...

  Abu Dhabi / Emirates Business Abu Dhabi Ports, the master developer, operator and manager of ports and Khalifa Industrial Zone (Kizad) in the Emirate, has announced the launch of the second phase of Kizad Logistics Park (KLP) — Non Free Zone warehousing. KLP has high-quality warehouses in Kizad’s logistics cluster and is set to become one of the leading ...

  Bloomberg Greek Prime Minister Alexis Tsipras braces for yet another vote on additional austerity measures, as European creditors remain at loggerheads with the International Monetary Fund about how much debt relief the country will get for its pain. Lawmakers in Athens were scheduled to vote Sunday night on an omnibus bill that includes measures ranging from the taxation of ...

  Berlin / AFP German regulators suspect that Italian-American auto maker Fiat Chrysler, like Volkswagen, used illegal software to cheat on emissions tests, a newspaper report said Sunday. The German Federal Motor Vehicle Office (KBA) had sent a report voicing the suspicion to the European Commission and to Italian authorities, according to Germany’s Bildam Sonntag newspaper. The news report came ...

  Bloomberg What looks set to become Denmark’s biggest initial public offering in more than a decade may add to pressure on the krone at a time when the exchange rate is already testing levels last seen during a 2015 speculative attack. With 15 percent of Dong Energy A/S slated to be sold to the public next month, the potential ...