ABU DHABI / WAM Responding to urgent international appeals, the Emirates Red Crescent (ERC) has provided shelters, tents, covers and food to those stricken by the floods that hit many provinces in Eastern Sudan and Kerala, India, as well as those affected by the earthquake that catapulted the province of Lombok, Indonesia. The ERC’s rapid humanitarian and rescue response aims …

DUBAI / Emirates Business The UAE is Hong Kong’s 18th largest trading partner as the total trade value between the UAE and Hong Kong amounted to over $4.7 billion in the first half of 2018. Hong Kong’s total export to the UAE amounted to $2.7 billion and total import value from the UAE reached $2 billion, reveal officials in Dubai. …

DUBAI / WAM Nakheel, a property developer based in Dubai, on Wednesday announced a net profit of AED2.51 billion for the first six months of 2018. ‘‘Nakheel handed over 451 units to customers in the first six months of the year. The company’s non-development businesses — retail, leasing, hospitality and asset management – all performed strongly. Annual revenues from these …

DUBAI / Emirates Business GCC sovereign issuance has had another strong first half, with the sovereign bond transactions of over $30 billion in the hard currency market, according to Fisch Asset Management. The Zurich-based asset manager believes that full-year issuance could surpass last year’s levels and reach $50 billion in 2018. Philipp Good, CEO at Fisch Asset Management, said: “This …

Bloomberg US stocks headed for their worst day in two months, joining a broad decline in global equities as disappointing earnings from Chinese internet giant Tencent Holdings Ltd. roiled technology shares and a plunge in commodities weighed on resource producers. Crude tumbled to below $65 a barrel after a report that American stockpiles rose the most since March 2017. The …

Bloomberg China’s equities and currency slid, with the yuan weakening past 6.9 a dollar for the first time since May 2017 and losses in tech stocks spiraling into a broad selloff. The Hang Seng China Enterprises Index fell 2 percent at the close for its fourth day of losses. Tencent Holdings Ltd. rattled equities after surprising investors with its first …

Bloomberg Vestas Wind Systems A/S surged the most in two years after the wind turbine maker announced a $227 million share buyback and said its orders rose. “Order intake was very strong, and profitability was clearly above market expectations,” said James Evans, an analyst at Bloomberg Intelligence. It was “aided by Vestas’ new push into co-developing projects, with two US …

Bloomberg Cheap drones are poised to boost output and cut operating expenses for the energy industry. The unmanned aerial vehicles are generally faster and less expensive than people, and can go places that may not be safe for workers. As costs fall, and their capabilities increase, drones are spotting leaks in natural gas pipelines, helping utilities inspect transmission and distribution …

Bloomberg Private home sales in Singapore soared to the highest in 16 months in July as buyers rushed to snap up properties hours before curbs aimed at quelling speculation came into effect. Developers sold 1,724 units last month, the Urban Redevelopment Authority said in a statement. That’s more than double the 654 units sold in June and the highest since …

Bloomberg Indonesia’s central bank raised its benchmark interest rate a fourth time since May in a surprise move aimed at underpinning the currency as volatility sweeps across emerging markets. The seven-day reverse repurchase rate was increased to 5.5 percent from 5.25 percent on Wednesday, as forecast by just seven of 28 economists in a Bloomberg survey, with the rest predicting …