DUBAI / Emirates Business In recent years, since the oil price slump, plans have emerged across the Gulf to curb fiscal deficits and diversify economies, most notably through the development of national infrastructure, highlights a new report by Oliver Wyman. Titled “How Public-Private Partnerships can support the Gulf’s Economic development,” the report highlights the significance of the private sector’s contribution ...

Bloomberg US stocks rose within striking distance of records amid optimism economic growth can continue apace even as the world’s two largest economies square off in a trade skirmish. The dollar slid the most in two weeks. The S&P 500 Index hit the highest level since January 29 and the Cboe Volatility Index dipped below 11 for the first time ...

Bloomberg Chinese equities powered higher on Tuesday as the Shanghai Composite Index posted its biggest gain in more than two years. Infrastructure and property companies were some of the best performers after a report in state media raised hopes for further policy support. The Shanghai benchmark climbed 2.7 percent, its first advance in a week, to close at 2,779 points. ...

ABU DHABI / WAM Aldar announced its financial results for the first half of 2018, delivering a resilient underlying performance across the business. According to a press statement, gross profit in the second quarter of 2018 increased by 20 percent to AED649 million compared to AED542 million in 2017. Commenting on the results, Talal Al Dhiyebi, Chief Executive Officer of ...

ABU DHABI / Emirates Business The Khalifa Fund for Enterprise Development (KFED) successfully organised a workshop aimed at increasing more awareness on the significant role being played by today’s online marketplace and the benefits and advantages to be gained from it. The event, which was held in collaboration with the Expo 2020 Dubai Team at the Khalifa Innovation Centre in ...

ABU DHABI / WAM A group of Emirati employees from the Abu Dhabi National Oil Company (Adnoc) has become the first group of trainees to start a two year professional development programme with Schlumberger, an oil and gas industry technology and service provider. The programme is part of Adnoc’s continued efforts to build a world-class workforce with enhanced advanced technology ...

Sharjah / Emirates Business Sharjah Airport Authority (SAA) announced that it has completed preparations for the peak of the travel season and an expected influx of Hajj pilgrims. Sharjah Airport, which is expecting to receive more than 1.1 million passengers on both scheduled and non-scheduled flights this August, has finalised arrangements for all procedures needed to ensure a comfortable travel ...

Abu Dhabi / Emirates Business Agthia Group PJSC, one of the UAE’s leading food and beverage groups, reported H1 2018 net profit of AED109 million on revenues of AED1.01 billion, representing 1 percent like-for-like revenue growth. Agthia’s like-for-like profit also increased by 6 percent, driven by the Group’s relentless focus on cost efficiencies and optimization to add value to its ...

Bloomberg The first round of renewed US sanctions on Iran took effect as President Hassan Rouhani—under increasing economic and political pressure—spurned President Donald Trump’s suggestion for talks with “no preconditions.” Following an executive order signed by Trump, the US imposed new restrictions intended to stop the purchase of dollar banknotes by Iran, prevent the government from trading gold and other ...

Bloomberg North Korea appears to have a Pompeo problem. The widening gulf between Secretary of State Michael Pompeo’s description of nuclear talks with North Korea and Pyongyang’s criticism of his efforts is adding further confusion to the status of negotiations intended to achieve the “complete denuclearisation of the Korean Peninsula.” North Korean officials and state media have in recent weeks ...