Tuesday , December 12 2017

Recent News

UAE economy to grow in 2018: IMF

Dubai / Reuters The United Arab Emirates economy is expected to recover gradually next year without suffering a significant blow to growth from the introduction of a 5 percent value-added tax in January, a senior International Monetary Fund official said. Natalia Tamirisa, IMF mission chief to the Ara b world’s ...

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Mubadala, Softbank invest in tech firms

Mubadala partners with Softbank for 16 technology investments copy

ABU DHABI / Reuters Abu Dhabi state investor Mubadala has made 15 to 16 investments in technology firms as part of a partnership with SoftBank Group of Japan, deputy group chief executive Waleed al-Muhairi told a conference in Abu Dhabi on Monday. Mubadala has committed $15 billion to SoftBank’s $93 ...

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Central Bank cash deposits surge to AED223.26 billion

central_bank+uae copy

Dubai / Emirates Business The total cash deposits placed at the UAE Central Bank surged to AED223.26 billion in 11 months, a growth of 9 percent from AED204.8 billion by end of October. In the meantime, withdrawals from the Central Bank amounted to AED222.969 billion in 11 months, an increase ...

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US stocks rise despite New York City explosion; oil gains

epa05861536 A handout photo made available by New York Stock Exchange, NYSE, 21 March 2017 showing EVP & CFO, Peter Matt (2-L) of Constellium N.V. on trade floor after ringing the closing bell 20 March 2017 as executives and guests of Constellium N.V. visit the New York Stock Exchange (NYSE) in New York, USA. Constellium is a Amsterdam, Netherlands-based global producer of aluminium semi-products.  EPA/COURTNEY CROW HANDOUT  HANDOUT EDITORIAL USE ONLY/NO SALES

Bloomberg US stocks were higher after an explosion rocked midtown Manhattan. The dollar fell and Treasuries rose. All major equity gauges were higher, led by gains in technology and energy shares, as markets digested news of the pipe bomb blast on Monday morning in the Times Square subway station on ...

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Pound to face twin forces of BOE, Brexit once again

epa05455001 The British Pound in London, Britain, 04 August 2016. Pound Sterling dropped against the US Dollar and the Euro ahead of the expected Bank of England Interest Rate cut, 04 August. The currency continues to trade at around 31-year lows against the dollar.  EPA/ANDY RAIN

Bloomberg With an initial Brexit deal out of the way, pound traders will be focussing on whether optimism over that lasts and shifts the Bank of England’s thinking this week. Even with an agreement to move Brexit talks on to trade and no expectations for the BOE to change interest ...

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Global stocks pare losses as dollar advances with bonds

epa05970801 A trader works on the floor of the New York Stock Exchange at the end of the trading day in New York, New York, USA, on 17 May 2017. Stocks were down today reportedly in reaction to uncertainty surrounding political news concerning US President Donald J. Trump and the White House.  EPA/JUSTIN LANE

Bloomberg Global stocks pared the worst of their losses after a selloff in Asia amid a broad risk-off mood. Treasuries rose with the dollar as investors’ focus turned to efforts to avert a US government shutdown . The S&P 500 fluctuated as software companies advanced and automotive stocks declined. The ...

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Tech shares in US rebound as metals fall with euro

epaselect epa06348777 Traders work on the floor of the New York Stock Exchange at the Closing Bell in New York, New York, USA, on 24 November 2017.  EPA-EFE/ANDREW GOMBERT

Bloomberg US technology shares rebounded on speculation the recent selloff went too far, while the dollar rose and industrial metals dropped. The Nasdaq Composite Index climbed as chipmakers and software companies paced gains. The S&P 500 was little changed as investors weighed the latest developments in efforts to overhaul taxes ...

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Pound slides amid Brexit-talks conundrum

Bloomberg The pound headed for its biggest decline in three weeks against the dollar after Ireland said it may not agree to alter a proposed border deal with the UK that reportedly stalled Brexit talks on Monday. Government bonds gained. Sterling weakened versus all of its 16 major peers after ...

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