April, 2019

• 24 April

  EDB raises home finance for UAE nationals to AED1.45b

  

  ABU DHABI / WAM The Board of Directors of the Emirates Development Bank (EDB) approved AED1.45 billion worth of housing finance for UAE nationals, during its meeting on Wednesday. The bank’s financing solutions provide up to AED5 million for home buyers and up to AED3 million towards construction, enabling Emiratis to maintain a good standard of living. The meeting was …

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• 24 April

  Saudi records budget surplus of $7.4b in Q1

  

  Bloomberg Saudi Arabia started the year with a quarterly budget surplus for the first time since the 2014 collapse in oil prices. The biggest Arab economy posted a surplus of 27.8 billion riyals ($7.4 billion) in the first quarter, helped by an increase in non-oil revenue as well as income from crude exports, Finance Minister Mohammed Al- Jadaan told an …

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• 24 April

  US, China set to resume trade talks on April 30

  

  Bloomberg Trade negotiators led by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week, the White House said, as both sides work to reach a draft agreement by next month. Talks starting next Tuesday “will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agr- iculture, services, purchases and enforcement,” the …

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• 24 April

  Etihad Cargo celebrates success of new technology platform

  

  ABU DHABI / WAM Etihad Cargo on Wednesday celebrated its position as a market leader in the air cargo digitalisation and innovation community, six months after migrating to a new technology platform. Last year, the carrier saw the introduction of several transformative programmes across its fleet and network, commercial and operational processes, and its physical and digital infrastructure. This culminated …

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• 24 April

  Emaar Hospitality to open five new hotels in Dubai

  

  Dubai / Emirates Business Emaar Hospitality Group, the hospitality and leisure business of global developer Emaar Properties, on Wednesday announced that it will open four new hotels in Dubai under its premium luxury Address Hotels + Resorts and upscale lifestyle Vida Hotels and Resorts, this year. Further, Rove Hotels, the joint venture of Emaar Properties and Meraas, will open a …

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• 24 April

  US stocks drift near record as dollar rallies to six-week high

  

  Bloomberg US equities were little changed as investors assessed corporate earnings and economic data. Treasuries joined a global rally in sovereign bonds and the dollar extended its rally to a six-week high. The S&P 500 Index fluctuated between small losses and gains after closing at a record. AT&T Inc and Caterpillar Inc fell after reporting first-quarter results, while Boeing Co …

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• 24 April

  Sensex, Nifty snap ‘losing streak’ on earnings optimism

  

  Bloomberg India’s benchmark stock index advanced for the first time in four days as earnings optimism outweighed concerns that Asia’s third-biggest economy may be crimped by higher oil prices. The S&P BSE Sensex climbed 1.3 percent to 39,054.68 in Mumbai, its steepest daily gain in more than six weeks. The NSE Nifty 50 Index rose by the same magnitude, its …

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• 24 April

  RBI set to join global central banks’ gold buying spree

  

  Bloomberg India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top econ-omies diversify their reserves. The Reserve Bank of India’s (RBI) purchases are part of a wider picture across developing economies that are looking at de-dollarising their foreign-exchange reserves, …

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• 24 April

  Wells Fargo interim CEO faces hecklers’ shouts of ‘frauds’

  

  Bloomberg Wells Fargo & Co.’s critics stormed its annual meeting in Dallas, vowing to keep pressure on the bank even after the resignation of its chief executive officer. Investors, however, showed they’re ready to move on. Interim Chief Executive Officer C. Allen Parker was interrupted more than a dozen times as he tried to deliver opening remarks at the gathering, …

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• 24 April

  Credit Suisse ends string of losses in trading

  

  Bloomberg Credit Suisse Group AG’s troubled trading business is finally bringing some much needed to relief to Chief Executive Officer Tidjane Thiam. The global markets unit — a focus of painful cuts and a perennial headache for the CEO — did better than top Wall Street banks in a period that rival UBS Group AG described as one of the …

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