April, 2019

• 20 April

  Here’s what we know for sure about jobs in India

  

  As nearly a billion Indians are going to the polls this month and next, no one doubts jobs will be central to their vote. We just can’t agree on whether the employment picture is rosy or dark. While the government cites payroll data to claim significant job creation, the opposition holds up a leaked preliminary report that pegged unemployment in ...

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• 20 April

  BlackRock needs to find solid ground

  

  BlackRock used to be able to skip over market mayhem. Now it seems as if the ground is shifting under it. The S&P 500 Index rose 13% in first quarter, a big snap back from 2018, when it was down 6%. BlackRock’s earnings did fall last year, but world’s largest asset-management firm was still able to produce a relatively impressive ...

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• 20 April

  Put Germany’s banking merger out of its misery

  

  It’s hard to find anyone who is, at least publicly, in favour of Deutsche Bank AG’s merger with Commerzbank AG. Even one adviser on the deal privately acknowledged what most observers suspect: putting together the two ailing German banks will only create a bigger lender with exactly the same problems. That’s not exactly an endorsement of what would be Europe’s ...

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• 17 April

  President amends provisions in Abu Dhabi real estate law

  

  ABU DHABI / WAM In his capacity as Ruler of Abu Dhabi, President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a law amending provisions of Law No. 19 of 2005 concerning real estate sector in Abu Dhabi. The new law stipulates amendments to Articles 3 and 4 of the ‘Real Property Law’. Article 3 (i) stipulates the ...

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• 17 April

  UAE’s GDP to reach $460b in 2019: IMF

  

  Abu Dhabi / WAM The International Monetary Fund (IMF) has forecast the UAE’s nominal gross domestic product (GDP) to grow 4.7 percent to AED 1.673 trillion ($460 billion) in 2019, compared to AED 1.589 trillion a year ago. The GDP growth is reflective of the economic diversification efforts made by the country, according to the Washington-based fund. Driven by remarkable ...

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• 17 April

  Emirates NBD Q1 profit up 15% to AED2.74bn

  

  Bloomberg Emirates NBD PJSC posted a 15 percent increase in first-quarter profit as lending rose and margins improved at Dubai’s biggest bank. First-quarter profit rose to AED2.74 billion ($747 million) from AED2.39 billion, the bank said in a statement. The mean estimates of three analysts compiled by the lender was for a profit of AED2.5 billion. The rise in profit ...

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• 17 April

  Oil and non-oil sectors set to drive UAE’s economic growth this year

  

  Emirates Business Economic activity in the UAE is set to accelerate to 2.2% in 2019, up from an estimated 1.7% in 2018, according to ICAEW’s latest Economic Insight report. This will be buoyed by a pick-up in non-oil activity, rising public spending at the Federal and Emirate levels, higher investment ahead of the highly anticipated Expo 2020 and continued regional ...

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• 17 April

  Reliance mulls 25% refinery stake sale to Saudi Aramco

  

  Bloomberg Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is considering selling as much as 25 percent of its refinery business in a deal that could fetch at least $10 billion, people with knowledge of the matter said. Reliance is sounding out potential investors including state-owned Saudi Arabian Oil Co (Aramco) to gauge the interest, according to the people, who asked ...

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• 17 April

  Dubai Investments to distribute 10% cash dividend

  DUBAI / WAM Dubai Investments, the leading diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 10 percent cash dividend to its shareholders for the financial year ending December 31, 2018. A proposal to this effect was approved by shareholders at the group’s 23rd annual general meeting (AGM). The company’s shareholders also approved all other resolutions ...

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• 17 April

  Grandweld Shipyards delivers four crew boats to Kuwait Oil Company

  

  Dubai / Emirates Business The UAE-based, Grandweld Shipyards, has announced a delivery of four Crew Boats to Kuwait Oil Company “KOC”. As per the contractual agreement signed in May 2017, Grandweld should build six Pilot Boats and four Crew Boats for KOC. Five boats have been delivered and the remaining five will be delivered in June 2019. Furthermore, the newly ...

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