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Abu Dhabi / WAM “Tolerance is like oxygen and the people of the UAE are the trees helping equally to produce the oxygen of tolerance,” Sheikh Nahyan bin Mubarak Al Nahyan, the UAE’s Minister of Tolerance said on Wednesday. “The greater the participation of the country’s people in promoting tolerance, the more harmonious, peaceful and prosperous the country will be.” ...

Abu Dhabi / Emirates Business Adnoc Distribution, the UAE’s largest fuel and convenience retailer and a company listed on Abu Dhabi Securities Exchange (ADX), on Wednesday reported that its first quarter 2019 net profit increased by 6.6% to AED 578 million ($157 million) when compared with the same period last year. Excluding inventory gains recorded in Q1 2018, the 2019 first ...

DUBAI / WAM The Supreme Council of Energy held its 55th meeting, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group. The meeting agenda covered several topics, notably the progress related to the ‘Demand Side Management Strategy 2030’ to reduce energy and water ...

Bloomberg US stocks edged higher as Apple Inc’s upbeat sales projection boosted technology shares, while Treasuries climbed before the Federal Reserve’s decision. The S&P 500 Index looked for a fourth day of gains and a fresh record and tech-heavy Nasdaq indexes outperformed as the iPhone maker again closed in on a $1 trillion market valuation. Advanced Micro Devices Inc’s outlook ...

Bloomberg Even with Asia’s top performance, foreign investors are still not convinced to buy Philippine bonds. Local-currency notes in the Philippines have yielded almost 10 percent this year through April, compared with less than 2 percent for China and India, data compiled by Bloomberg show. High taxes, a less liquid market, and tedious documentary requirements are some of the gripes ...

Bloomberg BP Plc boosted cash flow and hit the target on profit estimates in the first quarter as rising oil and gas production and strong trading results offset the effect of lower prices. The company’s performance brightens a mixed picture for Big Oil earnings. While the industry has moved beyond the worst downturn in a generation it’s still enduring volatile ...

Bloomberg Mexican President Andres Manuel Lopez Obrador said that oil output from private companies hasn’t risen to a level that would justify restarting auctions that his administration put on hold. Lopez Obrador said private companies are only producing 4,000 barrels of crude per day, based on the information he has from state-owned oil company Petroleos Mexicanos. As of two weeks ...

Bloomberg Sinopec said its first-quarter profit declined 20 percent amid lower crude prices and shrinking refining earnings. Net income dropped to 15.47 billion yuan ($2.3 billion) from 19.31 billion a year ago, the company said in a statement to the Hong Kong stock exchange, using international accounting standards. A drop in oil prices typically drags down the value of the ...

Bloomberg The latest round of US-China talks wrapped up in Beijing, with US Treasury Secretary Steven Mnuchin calling the meetings “productive” in a tweet. Negotiations will continue in Washington next week, Mnuchin said in his tweet after Wednesday’s round concluded slightly later than scheduled. He took part in a photo session with US Trade Representative Robert Lighthizer and China’s Vice ...

Bloomberg Indian businessman Anil Ambani’s Reliance Communications will fall back into bankruptcy as an appeals court allowed the beleaguered company’s request to enter the process in an attempt to sell assets. The National Company Law Appellate Tribunal allowed RCom to withdraw its appeal against insolvency proceedings initiated last year and lifted interim orders that temporarily halted the bankruptcy case. The ...