January, 2018

• 23 January

  Abu Dhabi records 4.87 million hotel guests in 2017

  

  Abu Dhabi / WAM A record 4.87 million people stayed in Abu Dhabi’s 162 hotels and hotel apartments during 2017, with the emirate recording an impressive 9.8 percent year-on-year rise. Figures released by the Department of Culture and Tourism – Abu Dhabi (DCT) for its hospitality sector reveal that the number of guests staying in Abu Dhabi city during the ...

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• 23 January

  US stocks rise on corporate earnings as Treasuries climb

  

  Bloomberg US stocks pushed higher amid strong corporate results, while Treasuries rose after the Bank of Japan signalled it’ll maintain stimulus. The dollar declined. The S&P 500 Index gained for the third day in a row as investors digested strong earnings, including from Netflix Inc., which helped drive tech shares higher. Of the 68 firms in benchmark that have reported ...

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• 23 January

  Most Gulf stock markets firm

  REUTERS Most Gulf stock markets were firm on Tuesday, with conglomerate Aamal Holding surging in Qatar, but blue chip Emaar Properties dragged down Dubai’s index as the stock went ex-dividend. Qatar’s index rose 0.5 percent in active trade as Aamal gained 4.8 percent after saying a unit had spent about 179.5 million riyals ($49.3 million) buying residential assets in Doha, ...

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• 23 January

  Tata chief sees opportunity to grow in financial services

  

  Bloomberg The Tata Group sees potential for significant growth in financial services without relying on acquisitions, as India’s largest conglomerate looks to sharpen its focus on about half a dozen businesses. “Both our insurance business and non-banking finance company have got a huge opportunity to grow,” Natarajan Chandrasekaran, chairman of group holding company Tata Sons, said in an interview with ...

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• 23 January

  Modi: India sets sights on $5 trillion economy

  

  Bloomberg India is working towards a $5 trillion dollar economy by 2025, Prime Minister Narendra Modi said on Tuesday at the opening session of the World Economic Forum in Davos. “Almost all areas of our economy have been opened to foreign direct investment,” said Modi, the first Indian prime minister in two decades to attend the forum of global business ...

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• 23 January

  Philippine growth rate hits 6% for sixth year

  

  Bloomberg The Philippines retained its position as one of the world’s fastest-growing economies after expansion exceeded 6 percent for a sixth year. Gross domestic product increased 6.7 percent in 2017, the Philippine Statistics Authority said in Manila on Tuesday, matching the median estimate in a Bloomberg survey of economists. The economy rose 6.6 percent in the fourth quarter from a ...

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• 23 January

  Chinese online learning provider plans to raise $300 million in US IPO

  Bloomberg Sunlands.com, a Chinese online learning provider, is planning a US initial public offering that could raise about $300 million, people with knowledge of the matter said. The Beijing-based company, which is backed by New Oriental Education & Technology Group Inc., aims to sell shares as soon as the first half of this year, according to the people, who asked ...

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• 23 January

  Trump marks 2nd year with Asia tariffs world has feared

  

  Bloomberg After a year of chest thumping, President Donald Trump has finally delivered the type of trade blow his political base has been craving. Trump slapped tariffs on imported solar panels and washing machines in his first major move to level a global playing field he says is tilted against American companies. The decision came two days after the one-year ...

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• 23 January

  Fox-Sky hits snag as CMA says Murdoch gets more power

  

  Bloomberg UK regulators dealt a setback to 21st Century Fox Inc.’s planned 11.7 billion-pound ($16.3 billion) takeover of Sky Plc, saying the deal would give Rupert Murdoch too much control over the country’s media. Fox’s bid to buy the European pay-TV broadcaster wouldn’t be in the public interest, the Competition and Markets Authority said in provisional findings on Tuesday in ...

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• 23 January

  UK has smallest deficit since 2000 as VAT hits record

  

  Bloomberg Britain recorded its smallest budget deficit for any December in 17 years as value-added tax receipts reached a record and the Treasury received a bumper credit from the European Union. Net borrowing narrowed to 2.6 billion pounds ($3.6 billion), well below the median forecast of economists, from 5.1 billion pounds a year earlier, figures showed. It left the shortfall ...

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