April, 2017

• 11 April

  BMW, Ford win UK funds for driverless, low-carbon cars

  

    Bloomberg BMW AG, Ford Motor Co. and Jaguar Land Rover are among the winners of 110 million pounds ($136 million) from the UK for the development of low-carbon vehicles and driverless cars. The funding for a total of 38 projects, including 62 million pounds for low-emission cars and 31 million pounds for autonomous vehicles, will help protect almost 2,400 ...

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• 11 April

  UK grocers secretly squeeze buyers as Brexit bites

  

    Bloomberg UK grocers are finding creative ways of passing on Brexit-induced cost increases to consumers. If you’re shopping for candles or light bulbs, buyer beware. Unable to raise prices of staple goods from milk to Marmite because of tough competition from discounters and watchful tabloid newspapers, supermarket operators like Tesco Plc and Wal-Mart Stores Inc.’s Asda are ratcheting them ...

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• 11 April

  UK inflation rise takes Easter break as rate stays at 2.3%

  

    Bloomberg UK inflation’s upward trajectory paused in March as the timing of Easter led to a drop in airfares, offsetting increases in the price of food and clothing. While the rate was unchanged compared with February at 2.3 percent, that’s still the highest since 2013 and up from just 0.5 percent a year ago. The increase over the past ...

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• 11 April

  Tesla beats GM’s market value

  

    Bloomberg Elon Musk’s Tesla Inc. surpassed General Motors Co. to become America’s most valuable carmaker, eclipsing a company whose well-being was once viewed as interdependent with the nation’s. A week after topping Ford Motor Co., Tesla climbed 3.3 percent, lifting its market capitalization to $50.9 billion. The electric-car maker ended the day valued at about $64 million more than ...

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• 11 April

  LVMH rises to record high as sales point to industry rebound

    Bloomberg LVMH shares rose to a record in Paris after the luxury leader’s sales far exceeded estimates on rebounding demand for items from Louis Vuitton bags to Hennessy cognac. Figures showed first-quarter organic revenue rose 13 percent, compared with the 8 percent median forecast. All divisions beat estimates, with the fashion and drinks units standing out. The stock gained ...

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• 11 April

  Dubai Islamic Bank shines on Q1 results in dull region market

  

    DUBAI / Reuters Shares of Dubai Islamic Bank outperformed most peers in the region on Tuesday after reporting a low double digit growth in first quarter net profit while market liquidity on those bourses was generally thin. Long-term institutional investors stayed away in light of heightened geopolitical risk, traders said. Dubai Islamic Bank shares rose 0.9 percent after the ...

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• 11 April

  Global stocks mixed, gold rises amid geopolitical tensions

  

    Bloomberg Stocks were mixed on Tuesday and the price of gold rose as investors monitored geopolitical risks — from North Korea’s rumblings over the US to major powers’ plan to put pressure on Russia over the Syrian war. Germany’s DAX edged 0.1 percent lower to 12,194 and the CAC 40 of France was 0.2 percent higher at 5,116. Britain’s ...

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• 10 April

  Dubai private sector rounds off strongest quarter since 2015

    DUBAI / WAM The Emirates NBD Dubai Economy Tracker said that March data signalled a sharp improvement in business conditions across Dubai’s private sector economy, with output, new orders, employment and stocks of purchases all expanding at a faster pace than in the preceding month. This was highlighted by a rise in the NBD Dubai Economy Tracker Index, a ...

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• 10 April

  Arab countries account for 15.5 percent of world gas production

    KUWAIT / WAM The Arab region now produces 15.5 percent of the world gas production, an increase of 11.8 percent from the year 1980’s levels, according to the Organisation of Arab Petroleum Exporting Countries, (OAPEC). Kuwait News Agency quoted Engineer Wael Abdul Mo’ti, gas industries expert at the Technical Affairs Department (OAPEC) as saying that Arab countries’ natural gas ...

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• 10 April

  Etisalat’s operating expenses up 5.6%

    ABU DHABI / WAM The total operating expenses of Emirates Telecommunications Group Company PJSC, Etisalat, amounted to AED 34.6 billion from AED 32.75 billion last year. The 5.6 percent growth, which excludes the royalty fees to the Federal Government, comes on the back of tremendous business development and strong performance by the Group in 18 markets across the world. ...

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