Bloomberg Netmarble Games Corp. rose as investors pursuing a high-growth alternative to traditional industry piled into South Korea’s biggest coming-out party in seven years. Shares in the mobile game developer and publisher ended 3.2 percent higher at 162,000 won in Seoul, after rising as high as 9.2 percent above the initial public offering price. The company now has a market ...

BAGHDAD / Agencies OPEC and other major oil exporters which are currently taking part in output reduction have reached consensus to extend the limits of cuts until the end of the year, according to the Iraqi and Algerian oil ministers. “All members of the Organisation of Petroleum Exporting Countries support an extension of the output cuts for a second six-month ...

ABU DHABI / Agencies UAE stocks closed on a high note on Thursday, gaining AED8 billion driven by a buying spree over leaders, primarily Emaar Properties which rose AED 7.49 ahead of the company’s announcement of its Q1 financial statements. The Dubai Financial Market (DFM), General Index rose by 0.74 percent to 3,420 points and Abu Dhabi Securities Exchange, ADX, ...

Bloomberg Dana Gas PJSC profit nearly doubled in the first quarter as the United Arab Emirates-based natural gas producer boosted output. Net income rose to 40 million dirhams ($11 million) from 22 million dirhams a year earlier, the company said on Thursday in a statement to the Abu Dhabi stock exchange. Sales climbed 44 percent to 432 million dirhams. Dana ...

ABU DHABI / WAM The UAE dirham has continued to appreciate in Q1 2017 for the twelfth consecutive quarter, according to Central Bank of the UAE statistics. With a few exceptions, the dirham appreciated against most of the UAE’s main trade partners. From the import side, the weighted dirham’s appreciation against its top-nine non-dollarised import partners, which claim 48.5 percent ...

ABU DHABI / WAM Waha Capital, a leading investment company based in Abu Dhabi, has reported a net profit of AED87.6 million for the first quarter of 2017. The company’s asset management division, which manages capital markets, and private equity and private debt investments, continued to deliver strong returns and now accounts for just over two thirds of total income. ...

ABU DHABI / WAM Abu Dhabi National Energy Company (TAQA) announced Q1 total revenues of AED4.1 billion, an increase of 6 % on previous year (Q1 2016: AED 3.9 billion), for the period ended March 31, 2017. Saeed Al Dhaheri, Acting Chief Operating Officer, said, “After the completion of our two-year transformation programme, I am pleased to announce a return ...

Dubai / WAM The country’s commitment to internationally agreed standards of transparency and exchange of information for taxation purposes was the crux of a workshop organised by the Ministry of Finance in collaboration with the Organisation of Economic Cooperation and Development. The workshop reviewed a series of issues of close relevance to tax and monetary policies developed to realign taxation ...

The mystery at the center of the Michael Flynn case is why Donald Trump didn’t react sooner to warnings about Flynn’s involvement with Russia. Why didn’t Trump listen to President Obama’s caution against hiring him? Why did Trump wait 18 days before removing his national security adviser after urgent advice that Flynn could be ‘blackmailed’? We don’t have answers. But ...

Emmanuel Macron’s election as French president removes the risk that one of the founding members of the European Union might seek to extricate itself from the euro. That in turn should be the signal for equity investors to take advantage of a less febrile political environment and buy European stocks. After several years of underperformance, economic growth in the euro ...