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SHARJAH / WAM Air Arabia, the Middle East and North Africa’s largest low-cost carrier, on Sunday announced strong financial results for the third quarter of this year ending September 30. Air Arabia registered a record profit of AED471 million for the three months ending September 30, an increase of 57 per cent compared to the AED300 million reported for the …

SHARJAH / WAM Dana Gas announced that in the first nine months of 2019, collections in Egypt, the UAE, and from its share of Pearl Petroleum Company Limited’s sales in the Kurdistan Region of Iraq (KRI) increased 16.7 percent year on year to $230 million (AED844 million). Dana Gas, which owns a 35 percent stake in Pearl Petroleum, saw its …

Bloomberg Bank of England (BOE)policy makers are being forced to keep stumm just as the outlook is changing, restricting their ability to reinforce signals that lower interest rates could be imminent. The UK’s December 12 election will hamper any attempts to prepare markets for a move at the BOE’s next decision just before Christmas. Officials are now in the customary …

Bloomberg India’s Yes Bank Ltd, the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month. Its shares have rallied about 50% — the biggest gain among global peers valued at more than $1 billion — after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised …

Bloomberg Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported. Deka Investment, one of the bank’s shareholders, called it “unusual” for a CEO to run a division while there’s ongoing restructuring involving 18,000 job …

Bloomberg Nigerian local-currency bond yields have plunged to 18-month lows as investors pile into the debt after the central bank restricted sales of higher-yielding, shorter-term central-bank securities. The average yield for naira government bonds has dropped 117 basis points to 13.03% since the central bank moved to block individuals and non-bank firms from buying so-called open-market operations (OMOs) on October …

Bloomberg Vietnam’s Military Commercial Joint Stock Bank plans to raise about $240 million from the sale of a 7.5% stake to foreign investors via a private placement, according to people familiar with the matter. The sale of the 7.5% stake, or 141.5 million new shares and 47 million treasury shares, is expected to be completed by the end of this …

Bloomberg A Wall Street regulator is opening a probe into Goldman Sachs Group Inc’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting railed against the Apple Card for giving him 20 times the credit limit …

Bloomberg It’s been the same trade all year. A recession is coming, so get defensive. Now the strategy is unwinding and stock managers who toed the line all the way into November have furious catching up to do. That’s bad if you’re in charge of an equity portfolio that’s straggling. But for anyone hoping to ride along with more upward …

Bloomberg After sending European stocks surging to multi-year highs on trade optimism, investors may hit the brakes on the rally, according to Morgan Stanley. Optimism about a US-China trade deal and receding risks of no-deal Brexit have boosted shares in recent weeks, with the Stoxx Europe 600 Index now less than 2% away from a record high reached in 2015. …