Bloomberg Foreign investors are piling into Chinese stocks after a dismal 2018 for the country’s equity market. They’ve bought 52 billion yuan ($7.8 billion) of A shares via trading connects in Shanghai and Shenzhen this January, putting it on course to be the biggest month for inflows since the second exchange link with Hong Kong opened in late 2016, Bloomberg ...

Abu Dhabi / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), stated that the ERC has expanded its international humanitarian activities, due to the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. He made this statement to mark the 36th anniversary of ...

Sharjah / WAM The UAE’s education market is set to grow from $4.4 billion in 2017 to $7.1 billion by 2023, according to a recent study by Boston Consulting Group. The rising participation of educational institutions and increasing student footfalls at the 15th International Education Show 2019 at Expo Centre Sharjah reflect a booming education sector in the country that ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), on Wednesday announced the full implementation of the Committee of Sponsoring Organisations of the Treadway Commission (COSO), Internal Control Framework in its operations. As the first government institution in the emirate of Abu Dhabi to roll out the effective system, ADFD confirmed that the framework will help enhance its monitoring and ...

KASSALA / WAM The UAE implemented four water pumping stations west of the Sudanese State of Kassala and signed contracts with the state government to drill 10 water wells, with work underway to establish additional pumping stations fed by Atbara River to address the severe drinking water crisis. The Abu Dhabi Crown Prince Court is funding the developmental projects as ...

SHARJAH / WAM Sharjah Islamic Bank (SIB), achieved good results for the full year of 2018 and declared a net profit of AED510.4 million compared to AED477.7 million reported in 2017, showing an increase of 7 percent. An 8 percent cash dividend is proposed for the shareholders. These results reflect the success of the bank’s strategy to achieve steady and ...

Dubai / WAM Adnoc Distribution, the UAE’s largest fuel and convenience retailer, on Wednesday celebrated the opening of its first three service stations in the Emirate of Dubai, located in Dubai Investment Park (DIP), Umm Eselay and Al Qusais. Adnoc Distribution operates in all seven Emirates. An opening celebration, held at the DIP station, was attended by Adnoc Distribution Acting ...

Bloomberg FedEx Corp, looking beyond Amazon.com Inc for growth in e-commerce, is introducing a new late-night shipping option for retailers who want to speedily send orders directly to online customers. The program will offer retailers the option to deliver items the next day when they are purchased online as late as midnight, said Brie Carere, FedEx’s chief marketing officer. Less ...

Bloomberg The 35-day partial government shutdown could spur early retirements among the already thin ranks of air traffic controllers and may postpone adoption of critical satellite-based aircraft navigation, a union official warned. It will take years to recover from the disruptions that resulted from people being kept off the job while safety-critical employees like controllers had to work without pay, ...

Bloomberg Shoprite Holdings Ltd shares slumped the most since 1999 after Africa’s biggest grocer said first-half earnings dropped as much as 26 percent, with South African food deflation and IT troubles compounding weakness in the rest of the continent. Headline earnings per share declined between 16 percent and 26 percent to as little as 3.89 rand, the Cape Town-based supermarket ...