Thursday , February 21 2019

Recent News

DP World buys UK-based P&O Ferries for AED1.5bn

DUBAI / WAM DP World has announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of GBP322 million ($421million) (AED1.54 billion), implying a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x. Britain-based P&O Ferries is a pan-European integrated logistics business ...

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UAE, Saudi firms set to build unmanned boats

ABU DHABI / WAM Al Seer Marine, Abu Dhabi based manufacturer of unmanned surface vessels, has signed a strategic partnership agreement with Advanced Electronics Company (AEC), a Saudi-based company, to build unmanned surface vessels for the kingdom. Al Seer Marine will be primary manufacturer for unmanned surface vessels in Saudi ...

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Calidus, GDC ink defense pact

ABU DHABI / WAM Calidus, Abu Dhabi-based a Defence Technology Development and Manufacturing Company, has signed a memorandum of understanding (MoU) with GDC Middle East of Riyadh to establish a joint corporation to explore the market in the Mena region for the Calidus B-250 light attack aircraft and to develop ...

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US equity futures drift as Europe, Asia stocks climb

Bloomberg US equity futures struggled for direction and stocks in Europe and Asia climbed as investors awaited the release of minutes from the latest meetings of two of the world’s key central banks. The dollar edged higher and the yuan rose after a report America is asking China to keep ...

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China’s stock rally nearing $1 trillion

Bloomberg As suddenly as it rolled in, the crisis of confidence that shook Chinese stocks last year may be ending. The rally since January has added more than $893 billion to the value of the country’s equities, lifting Shenzhen’s risky startups and state-backed giants alike. The rebound has been so ...

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For tech bulls, Samsung puts Korea back on the map

Bloomberg As Samsung Electronics Co. unveils the next generation of its smartphones on Wednesday, investors will no doubt be looking for a better showing from the mobile giant after a difficult 2018. Based on the hot start from Samsung shares, they already seem to be counting on South Korea’s biggest ...

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Chinese state media add more fuel to $882 billion equity rally

Bloomberg Chinese state media sought to highlight the growing bull case for the country’s shares. A front-page story in the China Securities Journal noted a bullish trend in financial markets, while Shanghai Securities News said insurers are optimistic about the country’s equities. The articles come against the backdrop of the ...

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‘Global equities still better value than bonds’

Bloomberg Earnings growth will continue to underpin equity gains despite more frequent bouts of volatility and mounting risks for financial markets, according to Lazard Asset Management. The US economy is in much better shape than investors believe and current market valuations suggest, Ronald Temple, co-head of multi-asset and head of ...

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