Bloomberg Credit Suisse Group AG Chief Executive Officer (CEO) Thomas Gottstein said he expects the wealth management business to slow down in the third quarter while revenue and trading will keep pace with earlier this year. Speaking at a virtual Bank of America Corp. conference, the CEO said he expects banking consolidation to pick up, but cautioned that international deals ...

Bloomberg European stocks bounded higher with US futures as equity markets built upward momentum after the September selloff cut valuations. The dollar extended its rebound. The Stoxx Europe 600 rises the most in two weeks on gains in airline, media and auto shares. Contracts on the blue-chip Dow Jones Industrial Average outperformed those on the Nasdaq 100 as investors turned ...

Bloomberg Indian stocks fall, with the benchmark gauge set for its longest string of losses in six months. The S&P BSE Sensex dropped 0.3% to 37,611.34 as of 1:36 pm in Mumbai, erasing an earlier gain of as much as 1%. The NSE Nifty 50 Index lost 0.5% as both measures headed for a fifth day of declines. A measure ...

Sharjah / WAM In line with the Ministry of Health and Prevention’s (MoHAP’s) plan to get frontline health workers vaccinated against the coronavirus, a number of health officials have taken the first dose of Covid-19 vaccine. Following the UAE’s authorisation of the use of the vaccine by frontline workers, MoHAP has also started administering the vaccine to medical and nursing ...

ABU DHABI / WAM Barings, one of the world’s leading financial services firms, on Tuesday announced that it has formed the Barings Mubadala Enterprise (BME) – an evergreen origination platform seeking to provide financing solutions to European middle-market businesses. BME and its capital partners aim to provide $3.5 billion in financing over the next 18 months to help meet growing ...

DUBAI / WAM Ahmed Mahboob Musabih, Director-General of Dubai Customs said the non-oil trade between Dubai and Saudi Arabia amounted to AED500 billion in the last ten years (2010-2020), which makes the kingdom Dubai’s biggest Arab trade partner and fifth globally. The great economic relationship that Saudi has with the UAE reflects the strong ties between the two states, and ...

Abu Dhabi / WAM The UAE will join Saudi Arabia in celebrating the kingdom’s 90th National Day on September 23. The UAE’s official and public participation in this year’s celebration, held under the slogan, “Together Forever”, confirms the deep ties between the two countries. Throughout history, the relations between the two countries have guaranteed the security of GCC and Arab ...

Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, chaired Tuesday’s virtual meeting of the Industrial Coordination Council with the participation of Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, and members of the Council. The meeting included discussions on how to empower the industrial sector, strengthen the UAE’s competitive ...

Bloomberg Oil edged higher, recovering from its biggest loss in almost two weeks even as a resurgent coronavirus looms over the demand outlook. Futures in London were up 1.3% near $42 a barrel, snapping a sharp decline from Monday alongside the European markets. Brent also recovered from technical support, moving away from their 100-day moving average on Tuesday. That’s despite ...

Abu Dhabi / WAM Nawah Energy Company (Nawah) the Joint Venture nuclear operations and maintenance subsidiary of the Emirates Nuclear Energy Corporation (Enec), and Korea Electric Power Corporation (Kepco), announced on Tuesday that the reactor of Unit 1 of the Barakah Nuclear Energy Plant has achieved 50% of its electricity production capacity. The milestone achievement was announced on the sidelines ...