May, 2017

• 16 May

  Dollar falls as traders weigh homes data, Trump

  Bloomberg The dollar weakened for a fifth day as traders digested disappointing US housing data against a backdrop of a fresh controversy engulfing President Donald Trump. US stock futures advanced amid earnings. The greenback fell against most of its major peers after a report the president shared terrorism intelligence with Russian officials, an action he has since defended. An unexpected ...

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• 16 May

  EasyJet bets on bigger Airbus jets

  

  Bloomberg EasyJet Plc upgraded an order for 30 Airbus SE narrow-body aircraft to the biggest A321 variant in a bet that fare declines are set to ease after pushing it to record winter losses. The switch marks EasyJet’s first deal for the new plane, which has 49 more seats than the A320 model, previously the largest in its fleet. Deliveries ...

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• 16 May

  Nestlé opens AED530 million factory in Dubai South

  

  Dubai / Emirates Business Nestlé Middle East’s 18th factory in the region has been inaugurated in Dubai South by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman Dubai Airports, and Chairman & Chief Executive of Emirates Airlines & Group; and in the presence of Marco Settembri, Executive Vice President Nestlé SA and ...

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• 16 May

  Vodafone forecasts 23% surge in free cash flow

  Bloomberg Vodafone Group Plc promised to milk more of the cash that flows through the world’s second-largest mobile-phone operation and funnel it back to shareholders after years of investment and expansion. The stock rose the most in 10 months on Tuesday after the Newbury, England-based carrier forecast a 23 percent increase in free cash flow to 5 billion euros ($5.5 ...

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• 16 May

  Asia’s top carry trade stokes rupee bulls with RBI on sidelines

  

  Bloomberg Reserve Bank of India’s (RBI) apparent tolerance of rupee gains is burnishing the appeal of Asia’s best carry-trade currency. RBI governor Urjit Patel already surprised analysts by raising a key interest rate last month, and now there’s little indication that officials are intervening heavily to slow currency gains—unlike some Asian counterparts. That’s all spurred Aviva investors to add to ...

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• 16 May

  GIC cuts its ownership stake with UBS by half

  

  Bloomberg Singapore’s sovereign wealth fund GIC Pte ceased being the biggest shareholder in UBS Group AG after cutting its ownership by almost half, saying it was “disappointed” that it lost money during nearly a decade in which it was invested in the Swiss bank. GIC sold a stake of about 2.4 percent at 16.10 francs ($16.20) a share, according to ...

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• 16 May

  Uncertainty over global economy takes its toll on Islamic banking

  Reuters Islamic banks have continued to expand their balance sheets and capital buffers, but the era of double-digit growth rates could be coming to an end while asset quality concerns creep up, an industry oversight body said on Tuesday. Islamic finance, which has its core markets in the Middle East and Southeast Asia, follows religious principles that forbid interest and ...

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• 16 May

  Riksbank plans revamp of inflation targeting regime

  

  Bloomberg Sweden’s central bank wants to track a different consumer-price gauge and introduce a tolerance band in a move that will give policy makers more leeway to unwind stimulus after half a decade of below-target inflation. The world’s oldest central bank wants to start targeting an index called CPIF, which factors out changes to mortgage costs, instead of the headline ...

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• 15 May

  Mohamed, Trump meet at White House

  

  Washington / Agencies His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has arrived at the White House where he was received by US President Donald Trump. President Trump welcomed the visit of HH Sheikh Mohamed and his accompanying delegation. The delegation includes HH Sheikh Tahnoun bin ...

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• 15 May

  92 companies listed at ADX, DFM post AED18.4bn profits

  

  ABU DHABI / WAM A total of AED 18.4 billion of Q1 profits were reported by 92 companies listed at Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) a growth of 13 percent from AED16.2 billion in the same period last year. Fifty five companies listed at ADX posted Q1 profits of AED10.7 billion, a growth of 27.3 ...

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