BLOOMBERG Shoprite Holdings Ltd lamented chronic electricity shortages in its home market of South Africa that held back growth in first-half profit and capped gains in the dividend payout. The owner of chains including Checkers and U-Save spent 465 million rand ($25 million) more on diesel in the six months through January 1 to ensure power during regular rolling blackouts. ...

BLOOMBERG While stock-picking investors wait around trying to decide their next market move, their computer-driven counterparts have no such luxury. The quants’ taskmasters — trend lines on charts and volatility targets — are forcing them into a concerted buying spree, just as the bond market creates fresh headaches for traditional money managers. One pool of rules-based money, Commodity Trading Advisors, ...

BLOOMBERG Global stocks edged higher Tuesday, as Treasury bond yields held below the key 4% mark and investors waited to see what policy message Federal Reserve Chair Jerome Powell would deliver at his Congressional testimony later in the day. Contracts on the S&P 500 pointed to a bounce after the underlying gauge closed flat, having erased a gain of as ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; HH ...

ABU DHABI / WAM ADQ and International Holding Company (IHC) announced on Monday their intention to create the region’s largest multi-asset class investment manager, to be headquartered in Abu Dhabi. Upon its launch, the investment manager will manage a portfolio of assets from ADQ’s Alternative Investments platform, Abu Dhabi Growth Fund (ADG) and IHC as well as fresh capital from ...

ABU DHABI / WAM Presight AI Holding, a G42 company and a big data analytics company powered by artificial intelligence (AI), on Monday announced its intention to carry out an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange’s (ADX) first market. The UAE Securities and Commodities Authority approved the Company’s application for the ...

ABU DHABI / WAM AD Ports Group and SEG Enera Group, one of the multisectoral holding companies in Uzbekistan, on Monday announced the formation of a new joint venture, ADL-Ulanish, that will provide end-to-end global logistics services across the Republic of Uzbekistan. Through the new joint venture enterprise, AD Ports Group will bring its cutting-edge expertise in global supply chain ...

DUBAI / WAM Dulsco Group has announced on Monday that it has successfully acquired Advance Global Recruitment Ltd (AGR), a leading energy recruitment firm based in Edinburgh. With offices in Scotland and the UAE and clients across 70 countries, AGR brings a wealth of specialist expertise in oil, gas, and renewables recruitment to Dulsco Group. This acquisition strengthens Dulsco Group’s ...

BLOOMBERG Ukraine’s armed forces said Russian troops continue to pursue an attempt to cut off the besieged eastern city of Bakhmut. Kremlin forces are on the offensive along five axes in the east, including near Bakhmut, the Ukrainian General Staff said over the weekend. Bakhmut’s deputy mayor said Russian attacks are preventing Ukrainian troops from reaching residents who want to ...

BLOOMBERG At least five people were killed in fighting between Azerbaijani troops and ethnic Armenian law enforcement in the breakaway region of Nagorno-Karabakh, the area’s deadliest skirmish in more than six months. Both sides blamed each other for provoking the incident, which left two Azerbaijani soldiers and three police officers from the self-declared Nagorno-Karabakh Republic dead. The latest escalation came ...