Bloomberg Stocks and US equity futures reversed earlier declines on Monday as earnings expectations outweighed concerns about a possible recession. S&P 500 and Nasdaq 100 futures rose, while European stocks extended gains after their best week since May. China’s property shares pushed higher amid a report that officials plan a fund to support struggling developers. Treasury yields advanced and ...

  Bloomberg Chinese property stocks and dollar bonds rallied on Monday, as a reported move by Beijing to establish a fund to support developers fuelled optimism about a turnaround for the struggling sector. A Bloomberg Intelligence index of the country’s real estate firms jumped 1.7%, the most in a week. China’s high-yield dollar notes, predominately issued by developers, rose at ...

Bloomberg Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market’s outlook. West Texas Intermediate falls 1.7% to slip below $95 a barrel in a choppy session. Crude posted a weekly decline as broader markets swayed oil prices in sessions characterised by sharp swings and low liquidity. On July 22, ...

  DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Saturday, July 30, will be an official paid holiday for all private sector employees in the UAE on the occasion of Islamic New Year, 1444 AH. This comes in line with the decree issued by the UAE cabinet to unify the number of holidays between ...

  DUBAI / WAM Cruise, the self-driving car service, will start this month the operation of two Chevrolet Bolt electric vehicles (EVs) to prepare digital maps for Cruise’s self-driving vehicles. The process is a prelude for the launch of the actual service in 2023, rendering Dubai the first city in the world to commercially operate Cruise self-driving vehicles outside America. ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned 287 11kV substations in Dubai in the first half of 2022. This is part of its efforts to provide a state-of-the-art infrastructure according to the highest international standards. These stations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf, and Burj Khalifa areas. Building these ...

  Umm Al Qaiwain / Gulf Time National Bank of Umm Al-Qaiwain has posted a net profit of AED165.30 million for the six months of the year 2022. Net profit has cost to income stood at 29.38% during six months, reflecting the bank’s operational efficiencies and disciplined cost management. The bank is focused on exercising prudence and building up provisions ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued federal decrees appointing the Directors-General of the Federal Authority for Identity, Citizenship, Customs and Port Security. As per the decrees, Major General Suhail Saeed Al Khaili will serve as the Director-General of the Federal Authority for Identity, Citizenship, Customs and Ports Security. The decrees ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned 287 11kV substations in Dubai in the first half of 2022. This is part of its efforts to provide a state-of-the-art infrastructure according to the highest international standards. These stations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf, and Burj Khalifa areas. Building these ...

  Dubai / WAM Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Higher Committee for Development and Citizens Affairs, chaired by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved immediate allocation ...