January, 2017

• 26 January

  Foreigners buy shares worth AED2.4bn on DFM

    DUBAI / WAM Dubai Financial Market (DFM) announced that the value of shares bought by foreign investors, or non-UAE nationals, this week reached about AED2.45 billion, while value of stocks they sold stood at AED2.43 billion, with net foreign investment on the market reaching AED19 million during the period, as aggregate buy. Value of shares bought by foreigner investors ...

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• 26 January

  MoF organises donation drive to support Aleppo

    Dubai / Emirates Business As part of the declaration of 2017 as the ‘Year of Giving’ by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the Ministry of Finance (MoF), in collaboration with Emirates Red Crescent, organised a donation campaign to aid and support the people of Aleppo at its premises in Abu Dhabi and Dubai.The donation ...

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• 26 January

  PDO boosts Duqm with $1.2bn pipe supply pact

    MUSCAT / WAM Petroleum Development Oman (PDO) signed on Thursday a 1.2 $ billion contract to supply piping for its drilling operations through Duqm. The five-year deal with Japanese supplier Sumitomo further includes a new supply yard in the Duqm Special Economic Zone, which will be a logistics centre for materials being delivered to PDO’s drilling locations. The agreement ...

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• 26 January

  National Bonds registers 50% rise in female savers

    Dubai / WAM National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investment company in the UAE, has announced that it registered a 50 percent increase in the number of female regular savers in 2016 in comparison with 2015. In addition, the cumulative savings within the company’s various programs grew by 43 percent last year. Currently, National Bonds ...

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• 26 January

  Johnson & Johnson’s US$30 billion Actelion takeover to boost earnings

  

    Bloomberg Johnson & Johnson made its biggest deal ever in a bold bet that it can get more growth out of medicines for a rare type of high blood pressure. The $30 billion purchase of Swiss drugmaker Actelion Ltd., which J&J is funding with cash it holds outside the US, will fulfill its goal of gaining a new drug ...

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• 26 January

  RBS gains after $3.8bn charge tied to US mortgage probe

  

    Bloomberg Royal Bank of Scotland Group Plc rose the most in two months in London trading after the bank took a 3.1 billion-pound ($3.8 billion) charge in a step toward resolving a US probe into sales of mortgage securities. The lender is continuing to cooperate with the US Department of Justice (DOJ) on its investigation, though timing of a ...

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• 26 January

  Goldman: Global rebound will up commodity demand

  

    Bloomberg Commodities will be supported in the months ahead by a global rebound spanning the US, Europe and China that’s buttressing worldwide demand for raw materials, according to Goldman Sachs Group Inc. “We’re seeing a cyclical uptick in global economic activity and that’s driving demand, not only for oil but all commodities,” Jeffrey Currie, head of commodities research, said ...

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• 26 January

  Credit Suisse mulls Dublin expansion as Brexit nears

  

    Bloomberg Credit Suisse Group AG is exploring options for expanding in Dublin, as the UK moves closer to exiting the European Union, according to two people familiar with the matter. The Irish capital is emerging as a favored location for the bank’s so-called back-office jobs, said one of the people, who asked not to be identified because a final ...

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• 26 January

  Barclays veteran to step down as Asia-Pacific CEO

  

    Bloomberg Barclays Plc’s Asia-Pacific Chief Executive Officer Andy Jones is stepping down, according to a memo obtained by Bloomberg. Jaideep Khanna and Reid Marsh will replace Jones as co-heads for the region, the memo showed. Jones, who will return to the U.K. in the first half of this year, will take on a temporary role as vice chairman, according ...

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• 26 January

  Wells Fargo levied fees on mortgages it delayed

    Bloomberg Wells Fargo & Co. charged some homebuyers fees to extend promised interest rates when the bank failed to process their mortgage applications on time, ProPublica reported, citing four former employees from the Los Angeles area. The practice, apparently limited to that region, broke with the company’s policy of eating the fees when it was at fault for delays, ...

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