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Bloomberg One of H&M’s largest shareholders has lost its patience. Skandia’s actively managed funds have spent the past months selling off most of its stake in Hennes & Mauritz AB after watching the fashion retailer struggle with weakening sales in its physical stores and intensifying online competition. The Swedish savings and insurance giant says there’s a raft of issues H&M ...

Abu Dhabi / WAM More than $15 billion worth of projects and funding was announced at the World Future Energy Summit (WFES) and its co-located events, the International Water Summit and EcoWASTE Exhibition, which took place during Abu Dhabi Sustainability Week 2018, hosted by Masdar. The deals, which combined a number of local, regional and international agreements, strengthen the UAE’s ...

DUBAI / WAM A twenty-one percent increase in Chinese arrivals to the GCC is expected by 2021, rising to 2.5 million visitors annually, according to data released ahead of Arabian Travel Market (ATM) 2018, which takes place at the Dubai World Trade Centre in April. Published by Colliers International, the data predicts Saudi will experience the highest proportionate increase in ...

DUBAI / Agencies Dubai-based ports operator DP World and India’s National Investment and Infrastructure Fund (NIIF), a quasi sovereign wealth fund, said on Monday they had created a fund to invest up to $3 billion of equity in the transport and logistics sectors in India. The money will target acquiring assets and developing projects in sea and river ports, freight ...

Bloomberg Abu Dhabi’s government oil producer received bids in the fourth quarter from international energy companies seeking stakes in offshore fields that pump about 25 percent of the Persian Gulf emirate’s crude. Abu Dhabi National Oil Co. is reviewing commercial bids from the companies it will choose from to help develop the deposits in a new joint venture, Adnoc said ...

Abu Dhabi / WAM Mohammed Thani Murshed Al Rumaithi, Chairman of the UAE Federation of Chambers of Commerce and Industry and Chairman of the Abu Dhabi Chamber of Commerce and Industry, and Husin Bagis, Ambassador of Indonesia to the UAE, discussed ways of promoting cooperation ties in investment and tourism sectors. Al Rumaithi praised the level of economic cooperation between ...

DUBAI / WAM The Roads and Transport Authority (RTA) and the Sustainable City Project have signed a Memorandum of Understanding (MoU) for the operation of autonomous vehicles within the facilities of the project situated in Dubai Land, Al Qudra Road, starting from February. The step stems from the keenness of both parties to support Dubai Government strategy of converting 25% ...

Bloomberg Stocks and Treasuries gained, while the dollar erased losses as the US Senate prepared to vote on ending a partial government shutdown. The S&P 500 Index rose following a third straight weekly advance as investors awaited about 80 earnings reports this week, including from Netflix Inc. and Proctor & Gamble Co. The dollar edged higher along with 10-year Treasuries ...

Bloomberg Hong Kong’s market rally is benefiting developers to drugmakers, which rushed to sell stock in the biggest week for follow-on equity offerings in more than two years. Companies listed in the city priced a combined $2.5 billion of such share sales last week, making it the busiest week since June 2015, according to data compiled by Bloomberg. The flood ...

Reuters Gulf stock markets were sluggish in early trade on Monday with real estate developers weighing on Dubai because of continued concern about the impact of ample supply of new homes on the sector. The Dubai index lost 0.6 percent to 3,492 points as Emaar Properties dropped 0.8 percent and Deyaar and Union Properties both fell 0.7 percent. In the ...