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Europe stocks advance as futures drift; oil rebounds

Bloomberg European stocks rose to a record on strong earnings, while US futures drifted as investors continued to monitor comments from Federal Reserve officials on scaling back stimulus measures. The Stoxx 600 Index climbed for a seventh day, with Flutter Entertainment Plc leading gains after the gambling company beat profit estimates. US equity futures were little changed, while stocks rose ...

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China tech stocks rise as analysts turn positive after selloff

Bloomberg Chinese internet stocks rallied in Hong Kong on Tuesday after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after the recent selloff. The Hang Seng Tech Index rose 2.5%, the most in nearly two weeks, to snap a three-day losing streak. The sector bellwether Tencent ...

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Oil tumbles to 11-week low as virus spread hits outlook

Bloomberg Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand. Futures fell below $66 a barrel in New York, while wilting timespreads showed the market is faltering. Goldman Sachs Group Inc downgraded its economic growth forecast for China as the country imposed measures to contain virus flare-ups, ...

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UAE leaders wish Arab, Islamic leaders on new Hijri year

ABU DHABI / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has sent congratulatory messages to kings, presidents and emirs of the Arab and Islamic countries on the advent of new Hijri year 1443. President His Highness Sheikh Khalifa bin Zayed wished them good health and happiness, further progress and prosperity for their people and dignity and glory for the ...

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Adnic’s first half profit up 31.1% to AED248.7m

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), a multi-line insurance providers for both corporates and individuals, reported net profit for the six-month period ended 30th June 2021 increased by 31.1 percent to AED248.7 million, compared to AED189.7 million for the same period in 2020, driven by outstanding performance in both underwriting and investment activities. Gross written premiums ...

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Air Arabia reports H1 net profit of AED44m

SHARJAH / WAM Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier operator, on Monday reported a profitable first half (January to June) 2021 despite Covid-19 continued impact on the aviation’s industry financial and operational performance. Air Arabia reported a net profit of AED 44 million for the first six months ending on June 30, 2021, ...

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DLD’s disputes centre resolves 8,713 cases in H1

Dubai / WAM The Rental Disputes Centre (RDC), the judicial arm of the Dubai Land Department (DLD), resolved 61,555 primary rental cases from 2015 to the end of 2020, representing just two percent of the total number of documented Ejari contracts (4,280,292 contracts) registered with the department during the same period, which has enhanced the community’s confidence in the laws ...

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Gulf Craft records 42% rise in order book value in H1 2021

UAE / Emirates Business Gulf Craft, one of the world’s leading shipbuilders, recorded a robust 42% growth in the value of its global order book during the first half of the year (January to June 2021) compared to the full year of 2020. The fully integrated boat and yacht manufacturer has secured 71 confirmed orders for its range of boats ...

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