April, 2016

• 7 April

  The Eurasian EU’s Armenia problem

  Catherine Putz SPECIAL TO EMIRATES BUSINESS Leaders from the Eurasian Economic Union are set to meet on April 8 in Yerevan, Armenia. But in light of the recent heat-up of that country’s frozen conflict with neighboring Azerbaijan over Nagorno-Karabakh, the union’s other members are looking for a change in venue. The EEU encompasses Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan. RFE/RL ...

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• 7 April

  Japan’s nuclear weapons conundrum

  Since 1967, when then-Japanese Prime Minister Eisaku Sato introduced the “three non-nuclear principles,” Japan has existed in a state of contradiction when it comes to the question of nuclear weapons’ place in the world: while Japanese leaders call for the global abolition of nuclear weapons, they simultaneously acknowledge the importance of nuclear deterrence and Japan’s reliance on the U.S. nuclear ...

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• 7 April

  US stocks retreat as yen climbs with gold on growth concern

  

  BLOOMBERG U.S. stocks slipped, gold rallied and the yen strengthened to a 17-month high amid renewed concern that central bank policies have failed to revitalize growth. The Standard & Poor’s 500 Index retreated into the middle of range that’s bound trading since the Federal Reserve’s March 16 meeting, while European equities reversed gains as bank shares slid. Gold rose after ...

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• 7 April

  Emirates Securities Market up by 0.89percent

  

  ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 0.89% to close at 4480.72 points. Accordingly the Market Capitalization has gained AED 6.38 billion attaining AED 726.83 billion. A total of 0.98 Billion Shares were traded with a total value of AED 0.93 billion during the trading session of 07-04-2016 through 9887 transactions. The number of companies which ...

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• 7 April

  Abu Dhabi extends bridge construction bid closing date

  

  Bloomberg Abu Dhabi General Services Company (Musanada) has extended the tender closing dates for the two design-and-build contracts for the proposed crossing that will connect Al-Reem Island, Umlifaina Island and the rest of Abu Dhabi. Contract 2 is now due to be submitted on April 17 and the deadline for Contract 1 is April 27. The original tender closing date ...

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• 7 April

  China’s Homelink to seek funds at $6.2 billion value

  Bloomberg Beijing Homelink Real Estate Brokerage Co. is seeking to raise funds in a financing round that will give the property company a valuation of about 40 billion yuan ($6.2 billion), according to people familiar with the matter. Homelink, which focuses on rental and second-hand real estate transactions, is raising about $1 billion and has attracted funding from Chinese Internet ...

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• 7 April

  Hedge funds closer to $3.4 bn German property sale

  

  Bloomberg U.S. hedge funds may sell stakes in office landlord IVG Immobilien AG in the second half as a turnaround of the once-struggling German company nears completion, people with knowledge of the matter said. The funds are most likely to sell IVG’s main property business in a public offering, said the people, who asked not to be identified because the ...

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• 7 April

  US construction spending retreats in Feb

  

  WASHINGTON / Bloomberg U.S. construction spending fell in February by the largest amount in three months. Weakness in nonresidential construction and government offset the strongest month for home construction in more than eight years. Construction spending fell 0.5 percent in February following a 2.1 percent January gain, the Commerce Department reported. Spending declines on construction of factories, communication facilities and ...

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• 7 April

  USA vacation-home sales tumble from record as bargains dry up

  

  Bloomberg Sales of U.S. vacation homes tumbled last year from record levels as buyers were held back by tight inventory and turbulence in financial markets. An estimated 920,000 vacation properties changed hands, down almost 19 percent from a high in 2014, according to a survey released on Wednesday from the National Association of Realtors. By comparison, sales of primary owner-occupied ...

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• 7 April

  Good food, great service and excellent coffee

  

  Our Correspondent/ Emirates Business Australian cafe chain, ‘The Coffee Club’ entered the UAE market in the beginning of 2015 with its first branch at Abu Dhabi’s Yas Mall and later expanding to Dubai in March 2015. Over the past one year, the coffee chain has ventured into different locations in the UAE. “The first year has been a whirlwind. The ...

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