January, 2019

• 22 January

  David’s Bridal emerges from bankruptcy in under two months

  

  Bloomberg America’s largest wedding gown retailer emerged from bankruptcy, just weeks after it first sought protection from creditors. David’s Bridal Inc shrunk its debt load by about $450 million and is now owned by lenders including Oaktree Capital Group. The company, which filed for bankruptcy in November, was looking to exit bankruptcy quickly to avoid scaring off brides that might ...

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• 21 January

  IMF predicts weakest global growth in 3 years

  

  Bloomberg The International Monetary Fund (IMF) cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of ...

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• 21 January

  UAE tops Mena region in global talent ranking

  

  DUBAI / WAM The UAE is ranked 1st regionally and 19th globally in the 2019 Global Talent Competitiveness Index report, published by Paris-based grad- uate business school Insead. For the fourth straight time, the UAE came ahead of Mena countries in the report — a comprehensive annual index that measures how countries and cities grow, attract and retain talent, providing ...

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• 21 January

  Oil steadies near two-month high as US drilling slows down

  

  Bloomberg Oil steadied near a two-month high in New York amid a pullback in US drilling activity, while ongoing US-China trade talks left an uncertain outlook for demand. Futures rose 0.3 percent after surging 3.3 percent. The number of rigs drilling for oil in the US fell to the lowest since May, according to Baker Hughes data. China and America, ...

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• 21 January

  DLD honours Dubai’s real estate brokers

  Dubai / Emirates Business Dubai Land Department (DLD) organised a ceremony to honour real estate brokers operating in Dubai for their outstanding performance during 2018, according to a number of select categories. The ceremony was attended by HE Sultan Butti bin Mejren, Director General of DLD; HE Eng. Marwan Ahmed bin Ghalita, CEO of RERA; the event organizer; and DLD’s ...

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• 21 January

  Canadian oil price surge fails to lift producers out of doldrums

  

  Bloomberg Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has almost doubled to about $43 a barrel, narrowing its discount to benchmark US oil to ...

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• 21 January

  Europe stocks, S&P futures dip on mixed trade news

  

  Bloomberg European stocks and US equity futures slipped on Monday while Asian markets posted modest gains as investors assessed the latest headlines on the economy and trade. The dollar was steady, while bonds in Europe were mixed. The Stoxx Europe 600 Index was on course for its first drop in five days, tracking S&P 500 futures lower on what is ...

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• 21 January

  Baht adds to Thai trade challenges

  

  Bloomberg A surge in the baht is adding to the challenges facing Thailand’s trade-dependent economy this year as exports decline. The baht’s climb of about 5 percent against the dollar in the past six months is the strongest in the world, according to data compiled by Bloomberg. Exports are already suffering from the US-China trade war and fell in December ...

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• 21 January

  London home asking prices dip to lowest since 2015

  

  Bloomberg London home asking prices fell to their weakest level in 3 1/2-years in January as sellers spooked by Brexit held off putting their properties up for sale. Asking prices in the capital slipped 1.5 percent from December to 593,972 pounds ($765,000), the lowest level since August 2015, according to Rightmove. New listings in the first two weeks of the ...

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• 21 January

  ECB has narrow window for rate hikes: Economists

  

  Bloomberg The European Central Bank (ECB) will only have a narrow window to raise interest rates before the euro-area economy becomes too weak, according to a Bloomberg survey of economists. Mario Draghi is seen lifting the deposit rate at his final meeting as president in October, but his successor will only have until spring of 2020 to tighten policy before ...

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