Bloomberg Barclays Plc plans to recruit 100 staff for its private bank as Chief Executive Officer Jes Staley pushes to expand wealth management in key global hubs, according to a person familiar with the strategy. The bank is searching for relationship managers and administrative staff for the division serving its wealthiest clients, said the person, who asked not to be …

Bloomberg Four of Australia’s biggest lenders gave estimates of how much Australia’s new bank levy will cost them, as they stepped up criticism of the policy and vowed again to pass on the extra charges. Westpac Banking Corp. said the levy will cost it an annual A$260 million ($194 million) after tax, while Commonwealth Bank of Australia estimated A$220 million …

Bloomberg Momentum investing may work in commodities, according to Goldman Sachs Group Inc., which said that returns from raw materials may benefit significantly from following the strategy that’s based on backing past winners and eschewing or betting against losers. “Commodities can benefit significantly from momentum investing although the gains are neither uniform across commodities nor constant over time,” analysts including …

DUBAI / Reuters Boeing Co said on Sunday it had signed several defense and commercial deals with Saudi Arabia including for the sale of military and passenger aircraft during a visit by US President Donald Trump to the kingdom. The announcement is the latest in tens of billions of dollars in deals signed between US and Saudi firms since Trump …

Dubai / WAM The Business Registration and Licensing (BRL) sector in Dubai Economy has issued 5,646 commercial permits during the first quarter (Q1) of 2017 as the emirate witnessed hectic commercial activity during the period. Advertising accounted for the largest share of 28 percent with 1,604 permits while the emirate’s flagship retail sector stood second with 1,387 permits, or 24 …

RAS AL-KHAIMAH / WAM Ras al-Khaimah Chamber has explored joint economic cooperation and investment opportunities with France, Germany and Spain. This came during a meeting organised by the chamber at its headquarters which was attended by representatives from the French Business Council, the Spanish Business Council and the German Emirati Joint Council for Industry and Commerce, with the participation of …

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, said that the UAE is moving forward in building a universal model to achieve innovative ideas to serve humanity, and that the UAE’s Centennial Vision 2071 originated from the historic lecture delivered by His Highness Sheikh Mohamed bin Zayed …

Dubai / WAM Emirates Transport (ET), reported that revenues increased by 10.6 percent to AED2.4 billion by the end of 2016, while its net profit rose to AED182.4 million, representing a growth of 25 percent from 2015. ”The corporation recorded a 61 percent return on capital, and has 3.019 billion in total assets,” said Mohammad Al Jarman, General Manager of …

Dubai / WAM Sharjah Asset Management (SAM), the official investment arm of the Sharjah Government, and Knight Frank, internationally renowned real estate consultants, are co-hosting a sales event for Al Saja’a Industrial Oasis, ASIO, on May 23 at the Sheraton Sharjah Beach Resort and Spa. They will discuss the industrial investment sector in the UAE and highlight how Sharjah acts …

Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading financial hub in the $7.4 trillion Middle East, Africa and South Asia (MEASA), reinforced its position as the largest fund regime in the region at an event which highlighted how property funds and Real Estate Investment Trusts (REITs) are becoming increasingly popular and opening up significant investment opportunities in …