May, 2017

• 1 May

  SAP sales rise again as software, cloud spending grows

    Bloomberg SAP SE’s sales topped analysts’ estimates for the fourth straight quarter, as business software spending grew, though the costs of transitioning to a web-delivered model weighed on profitability. First-quarter revenue rose 12 percent to 5.29 billion euros ($5.7 billion), SAP reported, compared with the 5.16 billion-euro estimate of analysts surveyed by Bloomberg. Operating profit, excluding share-based compensation, amortization ...

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• 1 May

  Gulf markets rise, Amanat dominates Dubai trading

  

    DUBAI / Reuters Most Gulf stock markets rose on Monday, with shares in healthcare and education investment company Amanat Holdings accounting for more than 40 percent of Dubai’s market volume with a 4.5 percent rise. The Dubai index rose 0.8 percent with Amanat, the most active stock, seeing its heaviest trade since November. The low-priced stock, which is sometimes ...

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• 1 May

  US stock, futures rise on Congress deal, oil dips

    Bloomberg Stocks and US futures climbed, while the yen slipped as a tentative deal by the US Congress to avert a government shutdown offset weaker economic data from China. US stocks looked set to add to their best week since February, as earnings season rolls along. Data on Monday indicated consumer spending stalled in March, adding to signs of ...

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• 1 May

  Sony reaches 22-month high as analysts predict record profit

  

    Bloomberg Sony Corp. shares jumped to their highest since May 2015 after a bullish earnings report triggered analyst predictions that the electronics maker could achieve record profit this year. The Tokyo-based company rose 3 percent to 3,873 yen at the close in Tokyo on Monday after forecasting operating profit of 500 billion yen ($4.5 billion) for the fiscal year ...

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• 1 May

  Southwest to stop overbooking

  

    Bloomberg Southwest Airlines Co. said it would stop overbooking flights, after the forcible removal of a United Airlines passenger from a packed plane sparked worldwide outrage. Overbooking is tentatively set to end May 8, Southwest said. That would be about a month after a 69-year-old United customer was dragged from a jet by airport police for refusing to surrender ...

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• 1 May

  Daiso opens store in Doha Festival City

  

    DUBAI / Emirates Business The Japanese discount chain has opened a new store in Doha Festival City. The fourth Daiso Japan store in Qatar is the latest in several store openings in line with the company’s extensive regional expansion plans, bringing the count to 48 stores in the Middle East. In the Middle East, the brand is part of ...

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• 1 May

  HSBC to boost Saudi presence with RBS bank merger

  

    Bloomberg HSBC Holdings Plc is set to strengthen its position in Saudi Arabia with the potential merger of its local venture with Royal Bank of Scotland Group Plc’s. RBS’s Alawwal Bank and HSBC’s Saudi British Bank are exploring a potential merger to create the country’s third-largest lender with $78 billion in assets, they said, without revealing details of the ...

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• 1 May

  Credit Suisse to raise $4bn as Swiss IPO plans dropped

  

    Bloomberg Credit Suisse Group AG Chief Executive Officer Tidjane Thiam is bowing to investor pressure to keep the bank’s biggest profit generator and instead will bolster capital by selling stock in a rights offer. The bank will raise 4 billion francs ($4.03 billion) in the sale and said it’s abandoning plans for the partial initial public offering of its ...

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April, 2017

• 30 April

  ADCB net profit jumps 8% to AED1.1bn in Q1

  

    ABU DHABI / Agencies Abu Dhabi Commercial Bank (ADCB) reported on Sunday AED1.1 billion in net profit attributable to equity shareholders, marking an 8 percent increase from the AED1.02 billion recorded in the same quarter of 2016. The bank said the rise in profits was driven by healthy volumes and a strong non-interest income combined with a well-managed cost ...

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• 30 April

  Foreign, corporate investments at UAE stocks surge to AED613mn

  

    Abu Dhabi / WAM Net foreign and corporate investments at UAE stock markets surged to AED 613 million during April 2017 despite the relative volatility of some stocks over the past four weeks. The increasing liquidity is attributable to the hike in foreign purchases, specially by non-Arabs, which hit AED 4.813 billion in April, with sales for the same ...

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