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Bloomberg The dollar extended its gains in the wake of better-than-expected US jobs data, while the euro also rose following its slump on Friday. Crude dropped as major producers gathered to discuss participation in output cuts. The greenback initially struggled to maintain its positive momentum against G-10 peers, before gradually strengthening as US stock futures also edged higher. European equities ...

DUBAI / Reuters The banking sector helped support stock indexes in Saudi Arabia and Egypt on Monday as investors were influenced by the positive mood in global bourses, while other markets in the region moved little. “With quarterly earnings now largely behind us, investors are looking for fresh triggers, and the optimism buzzing around global markets is just that,” said ...

Bloomberg Royal Bank of Scotland Group Plc Chairman Howard Davies said banks’ dire warnings about Brexit are finally getting through to the British government. “In recent weeks we have seen a much greater realisation of the much greater disruptive impact of a disorderly Brexit,” Davies said Friday. “The fact that the Bank of England has asked people to share their ...

Bloomberg Commonwealth Bank of Australia has blamed a software coding error for more than 50,000 alleged breaches of money-laundering and terrorist-financing laws. The error went undetected for almost three years, the Sydney-based bank said in its first detailed response after being sued August 3 by the country’s financial crime agency. Austrac alleged the bank failed to report on time or ...

Bloomberg Indonesia’s central bank has signaled a return to the easing bias that dominated its rates agenda last year. Bank Indonesia was Asia’s biggest rate cutter in 2016, easing policy six times until it hit the pause button late in the year. Now, with price pressures fading again, the bank’s governor Agus Martowardojo has said policymakers aren’t closing the door ...

Bloomberg It took six meetings for cracks to become visible within India’s powerful interest rate-setting panel. Following a series of consensus voting and bland statements, there was open dissent on the monetary policy committee in June, which only worsened last week when a member of the Reserve Bank of India’s economic research wing broke ranks for the first time with ...

Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded a net profit of AED 1.021 billion ($278 million) in the first-half (January to June) of 2017. This is 3 percent higher than the H1 2016 net profit of AED 987 million ($269 million). Revenue for half- year 2017 is AED 1.624 billion ...

SHARJAH / WAM Expo Centre Sharjah has announced it will organise and host 11 economic, cultural, and commercial exhibitions in the second half of 2017. The first event on the agenda kicks off on October 3, and the last event ends on December 16. Saif Mohammed Al-Midfa, CEO of Expo Centre Sharjah, said that the Centre has realised its objectives ...

DUBAI / Reuters Manufacturer JBF RAK, which is 60 percent owned by the United Arab Emirates’ Ras al-Khaimah Investment Authority (RAKIA), is in talks with banks about renegotiating around AED2bn ($544.6 million) of debt, banking sources said. The polyester producer, which according to its website is an affiliate of India’s JBF Group, has contacted lenders about reviewing its debt obligations, ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, the widow of the late Sheikh Zayed bin Sultan Al Nahyan, hailed the decision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to declare 2018 as the “Year of Zayed”. In a statement on the occasion, the Chairwoman of the General Women’s Union, Supreme Chairwoman of the Family Development ...