Saudi, Dubai rise; Mobily up on waiver of loan breaches

  DUBAI / Reuters Saudi shares rose early on Tuesday, lifted by firmer oil prices and news that Saudi Arabia’s second-largest telecommunications operator Mobily had secured waivers from all its lenders on breaches of loan agreements. Real estate stocks lifted the Dubai index. Etihad Etisalat (Mobily) jumped 6.7 percent after it said lenders who had not already agreed in December ...

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MBLM creates a new real estate brand ‘One Central’

  EMIRATES BUSINESS MBLM, the Brand Intimacy Agency focused on strategy, design, creative and technology, announced the successful launch of a comprehensive real estate branding program for One Central, a mixed-use, multi-billion-dollar project. One Central is the latest real estate development from Dubai World Trade Centre (DWTC). The 540,000 m2 master plan encompasses commercial, residential, hospitality and entertainment components, and ...

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Canadian confidence declines for first time in eight weeks

  Bloomberg Canadian consumer confidence fell for the first time in eight weeks as readings on job security and the economic outlook deteriorated, telephone polling shows. The Bloomberg Nanos Consumer Confidence Index dropped to 57.3 in the week ending May 13, from a 2016 high of 57.7 in the previous period. It was the biggest decline since January, as sentiment ...

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Brazil’s Sao Paulo realty prices are near rock bottom: Builders

  Bloomberg Real estate prices in Sao Paulo, Brazil’s biggest market, have bottomed out and should remain near that level until at least next year as Brazil’s recession plods on, according to two of the city’s largest real-estate companies. The outlook is a dismal reflection of business activity in the city, the country’s major financial hub and third-biggest contributor to ...

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Land securities profit increases as offices fill

  Bloomberg Land Securities Group Plc, the U.K.’s largest real estate investment trust, said full-year earnings increased 10 percent as offices filled up more quickly than expected and interest costs fell. Profit excluding changes in asset values and one-time items climbed to 362.1 million pounds ($525 million) from 329.1 million pounds a year earlier, the London-based company said in a ...

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Silicon Valley mansions linger on market in realty slowdown

  Bloomberg A custom-built home in the heart of California’s Silicon Valley had its price cut by $500,000 last week after sitting on the market since the end of March — a move that would’ve been almost unfathomable a year ago and a signal that frenzied demand has peaked. The six-bedroom, five-bath house in Palo Alto — located blocks from ...

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Roger Dubuis eyes North American expansion

  New York / Bloomberg Roger Dubuis, whose watches cost an average of $60,000, is shrugging off a slump in Swiss timepiece exports to the US by pushing ahead with a North American expansion. The 21-year-old brand, part of the Swiss Cie Financiere Richemont SA luxury-goods group, opened its first retail store in New York in November and is planning ...

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Complaints over airport security delays surge 10-fold

  Washington / Bloomberg Frustrated travellers are turning to the complaint box in growing numbers as long lines and delays getting through airport security result in missed flights. Complaints filed on such topics as courtesy and processing time surged in March to the highest levels in the past year, according to the Department of Transportation’s monthly Air Travel Consumer Report ...

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Vodafone logs first earnings growth since 2008

  London / AFP British telecoms giant Vodafone on Tuesday posted its first annual rise in operating profits in eight years, boosted by growth in Europe and emerging markets. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 2.7 percent to £11.6 billion ($16.7 billion, 14.7 billion euros) in the year to March, Vodafone said in a results statement. That was ...

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