Bloomberg A bevy of corporate earnings pulled US stocks higher, while European equities climbed on rising confidence among German businesses. Treasuries retreated with the dollar as the Federal Reserve began its policy meeting. Earnings from Caterpillar Inc. and McDonald’s Corp. led to outsize gains in the Dow Jones Industrial Average, while Alphabet Inc.’s disappointing results weighed on technology indexes. Banks ...

DUBAI / Reuters Poor corporate earnings, due in part to Saudi Arabia’s austerity policies and sluggish economic growth, weighed on the Saudi stock market on Tuesday as most regional bourses were virtually flat. The Saudi stock index fell 0.3 percent in thin trade. National Shipping Co (Bahri) sank 5.6 percent after reporting that quarterly net profit plunged to 153.9 million ...

Abu Dhabi / Emirates Business Etihad Airways on Tuesday introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi, the capital of the UAE, to Beirut, Lebanon. The new 787 Dreamliner service replaces the Airbus A321 aircraft previously operating the airline’s EY535/EY538 flights to and from the Lebanese capital. The Boeing 787-9 features Etihad Airways’ next-generation Business and ...

DUBAI / Reuters Saudi Arabia hired Goldman Sachs to manage the sale of a stake in Riyadh airport, the first major privatisation of an airport in the kingdom, three sources familiar with the matter said. The Saudi Civil Aviation Holding plans to sell a minority stake in Riyadh’s King Khalid International Airport, the sources said, without providing a timeframe for ...

Bloomberg Chinese e-commerce giant Alibaba Group Holding Ltd. and its Indian associate Paytm E-commerce Pvt are in talks to invest about $200 million for a stake of roughly 20 percent in India’s leading online grocer, Bigbasket, according to a person with direct knowledge of the negotiations. Alibaba and Paytm are in a 60-day exclusive pact with Bigbasket and are conducting ...

Dubai / Emirates Business In line with Emirate of Dubai’s efforts to become the world’s smartest city by the end of 2017, Eniverse Technologies – a Dubai based technology group – and Skycart – a San Francisco based drones company – have announced their new partnership to create ‘Space Autonomous Drones’ in Dubai, a company that will introduce one of ...

ABU DHABI / WAM Surplus reserves at UAE banks and other financial institutions surged to AED42.8 billion by the end of June, a growth of 77.6 percent, or AED18.7 billion, from AED24.1 billion in the first month of the year 2017, according to UAE Central Bank statistics. The figures reflect the resilience of the UAE banks’ solvency position, not only ...

ABU DHABI / WAM NPCC, a member company of SENAAT – Abu Dhabi, one of the UAE’s largest industrial investment holding companies, is ranked 5th in the annual list of Top 30 Engineering, Procurement and Construction (EPC), Companies in the Energy sector in the Middle East and North Africa region, as compiled by Oil & Gas Middle East magazine. The ...

DUBAI / Reuters State-owned energy giant Abu Dhabi National Oil Co (ADNOC) is in talks with regional and international banks to obtain a syndicated loan worth several billion US dollars, banking sources familiar with the discussions said on Monday. The loan will be ‘huge’, two bankers said; a third said it was expected to be in a range of $4 ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has received a delegation from the UAE Space Agency, which was accompanied by representatives of the space sector in the UAE. The delegation presented a demonstration on the most important accomplishments in UAE space ...