Bloomberg US stocks joined declines in global equities, with materials producers under pressure amid a selloff in commodities. The dollar weakened versus the euro after strong growth in Germany bolstered the common currency. S&P 500 Index fell for the third time in four days. Data showing Chinese growth is slowing sparked commodity declines that hit equities in Asia. The euro’s ...

Reuters Major Middle East stock markets moved largely sideways on Tuesday with little positive news to spur buying, although GFH Financial continued surging in Dubai after disclosing details of its business strategy. In contrast to recent days, Saudi Arabia’s index spent almost the entire day higher, closing up 0.3 percent. Since the beginning of last week, the market had traded ...

Bloomberg Emirates President Tim Clark urged Airbus SE to make firm commitments on the future of its A380 airliner, demanding certainty before placing a follow-up order that production will continue until all aircraft are delivered. “It’s their call,” Clark, speaking to journalists at the Dubai Airshow, said of Airbus and the future of the manufacturer’s flagship product. “It’s really for ...

Bloomberg EgyptAir Airlines Co. is poised to expand its fleet with a flurry of deals for long-range and short-haul aircraft, including a $1.1 billion order for Bombardier Inc’s C Series jets, people familiar with the matter said. The Cairo-based company was expected to announce a firm order for 12 CS300 jets as early as Tuesday at the Dubai Airshow, said ...

Bloomberg Ikea, the Swedish flat-pack furniture empire, has become one of the few retailers to quantify the financial effects of Brexit. Costs at Ikea UK, which is heavily reliant on imports, jumped by 13.7 percent in the year through August, the company said in a statement on Tuesday. That increase was driven by the drop in sterling after last year’s ...

Bloomberg Michael O’Leary built Ryanair Holdings Plc into Europe’s most valuable airline by being cheap, right down to charging pilots for coffee on their own flights. Now those aviators are pushing back. A group of disgruntled flight crew is demanding more pay, better conditions and the ability to bargain collectively across Europe. They’re emboldened by rising demand for pilots at ...

ABU DHABI / AGENCIES The CEO of the Abu Dhabi National Oil Company (ADNOC) Dr Sultan Al Jaber, announced that ADNOC intends to sell a minority stake of its fuel distribution and convenience retail store subsidiary, ADNOC Distribution, via an IPO on the Abu Dhabi Securities Exchange (ADX) before the end of the year. The company aims to sell at ...

ABU DHABI / WAM Suhail Al Mazrouei, Minister of Energy and Industry, has said that the current recovery of the oil market is due to market forces which benefit OPEC and shale oil producers alike. He made his comments while taking part in the UAE Ministry of Energy and Industry Knowledge Series panel discussion entitled, “Oil and Gas Outlook to ...

Bloomberg Abu Dhabi’s state fund is looking to expand its energy investments, with $5 billion spent in the past few months in nations that can offer low costs such as the US, according to the head of Mubadala Investment Co.’s oil and chemicals projects. “If you think about the low cost environment, the US ranks very high because of the ...

ABU DHABI / WAM British Petroleum (BP) is planning to raise recovery rates from oilfields in Abu Dhabi to 60-70 percent from the current level of around 30-40 percent, according to a senior official at the British oil giant. Salem bin Ashoor, General Manager and Chief Representative of British Petroleum UAE, said, “We can see the opportunity in the long ...