June, 2016

• 2 June

  Gulf mixed before OPEC meeting; Egypt’s Cleopatra lists

  

    DUBAI / Reuters Gulf stock markets were mixed before an OPEC meeting on Thursday to discuss coordinated action among oil producers to support prices. Egypt’s market rose as a newly listed healthcare stock performed strongly. Riyadh’s stock index added 0.5 percent with support from some petrochemical shares as Brent oil held near $50 a barrel. Saudi Basic Industries climbed ...

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• 2 June

  UAE-Peru trade ties grow stronger

  

    Sunaina Rana / Emirates Business Ties between Peru and the UAE have seen a burgeoning growth over the past few years in terms of trade, investments and political relations. According to Alvaro Silva-Santisteban, Director of the Trade, Tourism & Investment Office Peru, UAE, the total exports from Peru to the UAE have increased by 700% from 2011 to 2014, ...

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• 2 June

  RAK WMA, Al Qamra ink med waste deal

  

    DUBAI / Emirates Business The Community Management Week (CMW), a pioneering event that brings five dedicated shows under one banner, ended on a high note recently with the signing of new major business deals and engagements with thousands of visitors and professionals who witnessed a range of sustainable and cutting-edge community management solutions from the inter-related shows. Organized by ...

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• 2 June

  Al Ghurair Investment takes ‘green’ strides

  

    ALKESH SHARMA / Emirates Business The UAE is witnessing a huge influx of tourists, reaching for business as well as leisure purposes. Considering the extent of commercial activities in the country, pressure on the ecosystem is bound to surge manifold in the coming years, affirm industry experts. Notably, the corporates in the Emirates have started making a sustainable contribution ...

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• 2 June

  Abu Dhabi readies for sports feat

  

    ABU DHABI / Emirates Business The Abu Dhabi Sports Council (ADSC) has teamed up with the Abu Dhabi National Exhibitions Company (ADNEC) to organise the Abu Dhabi Sports Festival — a two-month celebration of sports and community. The first month will see exciting football and volleyball tournament action. Victorious teams will walk away with up to AED 300,000 (USD ...

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• 2 June

  FERG meet mulls potential ties with Dubai Cares

    Dubai / Emirates Business The Foreign Exchange and Remittance Group (FERG) — comprising businesses engaged in money exchange and remittances — held its scheduled Midyear General Meeting (MGM) at the Shangri La Hotel, Dubai. The MGM was an occasion for FERG members to network and exchange views while participating in setting the organisation’s strategy and agenda for the latter ...

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• 2 June

  Cameron, Corbyn push for Remain as Citi sounds alarm

  

    Bloomberg U.K. Prime Minister David Cameron and opposition Labour Party leader Jeremy Corbyn returned to the front line to make the case for staying in the European Union as the anti-Brexit campaign attempted to maintain momentum three weeks out from Britain’s referendum. The pound dropped earlier this week as successive polls showed a swing in favor of “Leave,” suggesting ...

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• 2 June

  Pound struggles to rally as risk of Brexit seen creeping higher

    Bloomberg Rallies in the pound are proving tough to sustain as recent opinion polls puncture investor confidence that the U.K. will choose to remain in the European Union in the June 23 referendum. Sterling rose versus the dollar on Thursday after dropping the previous two days as surveys released this week signaled the ‘Leave’ camp pulling ahead of the ...

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• 2 June

  FedEx close to wrapping up $4.4 bn TNT buyout

  

    Netherlands / AFP US delivery giant FedEx now owns over 98 percent of Dutch rival TNT, the two companies announced on Thursday as they move to complete a key $4.4 billion tie-up after winning EU approval. The deal unveiled in April 2015 came two years after the European Commission, the European Union’s powerful executive arm, had torpedoed a bid ...

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• 2 June

  Costly bank loans in Sweden to drive bond sales, says Swedbank

  

    Bloomberg Swedbank AB, which is doing more corporate bond issues in the Nordic region this year than any other bank, says the share of Swedish companies’ debt market funding will more than double as higher capital requirements make bank loans more expensive. About 15 percent of corporate funding in the Nordic region now comes from the capital markets, Elisabeth ...

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