DUBAI / Reuters Disappointing second-quarter results from large cap Saudi Arabian companies were the main drag on the local index on Sunday, while neighbouring bourses were mostly weak. The Riyadh index fell 0.8 percent as the largest petrochemical maker Saudi Basic Industries (SABIC) lost 1.3 percent after it reported a second-quarter net profit of 3.71 billion riyals ($989.3 million), below ...

Bloomberg Italy took the final steps to revive Banca Monte dei Paschi di Siena SpA, setting the price for its portion of the aid package needed to keep the world’s oldest bank in business. The government will pay 6.49 euros per share as part of the bank’s capital raising, according to a statement from the lender. Italy earlier this week ...

Bloomberg Mark Carney signaled in June that a Bank of England rate increase may be approaching. Economists doubt it is here just yet. The governor, overseeing an economy that slowed sharply in the first half, will lower growth projections for the next two years when he presents the central bank’s latest forecasts next week, according to economists. The inflation outlook ...

Bloomberg BNP Paribas SA is showing it’s still possible to build a big investment bank franchise from Europe. France’s largest lender outshone Germany’s Deutsche Bank AG and much of Wall Street for another quarter, posting a standout performance in equity derivatives to help drive better-than-expected profit. Among bright spots: Equity and prime services revenue jumped 26 percent amid surging demand ...

Bloomberg The euro area’s third-largest economy is seeking someone to help oversee its struggling recovery — and review the European Central Bank (ECB) stimulus the country relies upon. Competition for the top job at the Bank of Italy, which comes with a seat on the ECB’s Governing Council, is heating up. The position has a high-profile history — ECB President ...

Bloomberg Aida is the perfect employee: always courteous, always learning and, as she says, “always at work, 24/7, 365 days a year.” Aida, of course, is not a person but a virtual customer-service representative that SEB AB, one of Sweden’s biggest banks, is rolling out. The goal is to give the actual humans more time to engage in more complex ...

Bloomberg For decades, Singapore and Hong Kong have reigned supreme: as key transit points connecting travellers in Asia to and from the rest of the world. But now, a $1 trillion global airport spree is threatening the status quo. About half that money is due to be spent on upgrading or building new airports in Asia, the Sydney-based CAPA Centre ...

DUBAI / Emirates Business GCC visitors have helped to drive record visitor numbers to Ireland according to Tourism Ireland, the organisation responsible for promoting the island of Ireland overseas as a leading holiday destination. GCC countries are an important developing market for Ireland, contributing to a 20.6% rise in its segment for the period January to June this year. Overall, ...

Bloomberg Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. The A380 build rate will be reduced to eight jets a year in 2019, down from 15 this ...

WAM A delegation from Sharjah’s Department of eGovernment (DeG), visited Sharjah International Airport (SIA), where they registered their details with the facility’s smart gate system. The visit came in line with the department’s commitment to supporting digital and electronic ventures that facilitate the ease of conducting procedures and which elevate the environment of Sharjah for its residents and visitors. “DeG’s ...