July, 2018

• 16 July

  US-China trade tariff spat a concern for aerospace: Boeing

  

  Bloomberg Boeing Co. CEO Dennis Muilenburg said he’s concerned about the possible fallout from the US-Chinese trade dispute that’s gathering momentum because his industry relies on the free flow of goods. Speaking at the Farnborough air show south of London, Muilenburg said finding a solution to the dispute is “an important topic to us.” Aerospace is the biggest trade-surplus generator ...

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• 16 July

  Japan’s Uniqlo owner finds success abroad, downplays trade war risk

  

  Bloomberg Fast Retailing shares climbed the most since January on signs that the retailer’s steady expansion in overseas markets, now headlined by the face of Roger Federer, is bearing fruit even in the face of risks from an escalating trade dispute. The Uniqlo operator drew on robust overseas sales and a successful early summer line to help boost third-quarter results. ...

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• 16 July

  Rival retailers try to catch a ride on Amazon Prime’s tailwinds

  

  Bloomberg Three years ago, Amazon.com Inc. created a summer shopping holiday out of thin air for its most loyal customers. That airspace is considerably more crowded today as its rivals jockey to grab deal-hungry online shoppers. Retailers Target Corp., Best Buy Co., Macy’s Inc. and Walmart Inc. all have special promotions planned to coincide with Amazon’s Prime Day, which begins ...

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• 15 July

  ADFD’s total spend reaches AED84bn

  

  ABU DHABI / WAM In a report celebrating its 47th anniversary, Abu Dhabi Fund for Development (ADFD) announced that it has expended a total of AED84 billion to finance approximately 550 projects in 88 beneficiary countries. Since its inception on July 15, 1971, ADFD has disbursed AED37 billion in concessionary loans, AED44 billion in UAE government grants and AED3 billion ...

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• 15 July

  France win 2018 FIFA World Cup

  MOSCOW / WAM France won the World Cup Russia in a thrilling final with Croatia at Moscow’s Luzhniki stadiumon on Sunday. France overwhelmed Croatia 4-2 to be FIFA World Cup 2018 champion for second time, after winning in 1998. Croatia was playing in its first World Cup final. For France, it was a first World Cup crown since winning on ...

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• 15 July

  UAE exempts tourist dependents from visa fees

  ABU DHABI / WAM The UAE Cabinet has affirmed that the UAE’s competitiveness as a leading destination in family tourism supports the national economy and enhances domestic and foreign investments in the tourism sector. This came during the Cabinet’s approval of a decision to exempt the accompanying dependents of foreign tourists under the age of 18 from visa fees, from ...

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• 15 July

  Mubadala in talks with potential bidders for Spanish oil firm Cepsa

  

  Bloomberg Vitol Group, the world’s largest independent oil trader, is among firms considering bids for Spanish oil company Cepsa Trading SA as its owner weighs alternatives to an initial public offering planned for later this year, according to people familiar with the matter. Cepsa, owned by Abu Dhabi wealth fund Mubadala Investment Co, could be valued at around 10 billion ...

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• 15 July

  817 Chinese invest AED900mn in UAE money markets

  ABU DHABI / WAM The number of Chinese investors in the UAE’s money markets reached 817 as of end of 2017, and value of their trades exceeded AED900 million, according to official statistics of over 15 Chinese investment institutions in the UAE. In 2017, the numbers of buy and sell deals by Chinese investors in the Dubai Financial Market (DFM) ...

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• 15 July

  UNB records AED841mn profit for first half of 2018

  

  DUBAI / Emirates Business Union National Bank (UNB), one of the leading banks based in the United Arab Emirates, recorded a profit of AED841 million for the first half of 2018. The profit for the second quarter of 2018 of AED416 million was lower by 2% quarter-on-quarter as the group continued to remain selective to book new business amid scheduled ...

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• 15 July

  Sharjah Islamic Bank’s profit up 4% in H1

  DUBAI / WAM Sharjah Islamic Bank (SIB) has achieved a net profits of AED 283.0 million in the first half 2018 compared to AED272.9 million in same period last year, a 4 percent increase. According to first half financial results, total assets reached AED42.8 billion at the end of H1 compared to AED38.3 billion at the end of 2017, representing ...

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