Tuesday , April 23 2019

Recent News

Oil leaps to 6-month high as US vows to choke Iran exports

Bloomberg Crude leapt to its highest level in almost six months after the Trump administration said it wouldn’t renew Iran oil waivers for China, India and other countries once they expire in May. Futures in London traded near $74 a barrel after jumping as much as 3.3 percent and reaching ...

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Abu Dhabi Islamic Bank Q1 revenues rise 5.3%

ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) reported a net profit growth of 1.7 percent for Q1 2019 to AED 600.3 million. Revenues increased by 5.3 percent to AED1,436.6 million driven by growth in customer financing of 2.8 percent to AED 78.1 billion, and a 57.5 percent rise ...

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SMEs, smart cities drive Mena software spend to $6.2 billion

DUBAI / Emirates Business The digital transformation of the Middle East and North Africa (Mena) small- and medium-sized enterprises and smart cities is driving regional software spend to top $6 billion, industry experts announced on Monday. The Mena region is a fast-growth market for digital transformation, as organisations look to ...

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Stocks

US stocks mixed as crude rallies to six-month high

Bloomberg Most US equities fell in light volume as investors prepared for a deluge of earnings news. Oil jumped after the White House said it will scrap waivers that allow the purchase of some Iranian crude. The S&P 500 Index fluctuated between small gains and losses, hovering about 1 percent ...

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India stocks drop most in four months as oil jump dents optimism

Bloomberg India’s benchmark stock index posted its biggest drop in four months on concern that the spike in the price of oil, the nation’s biggest import, may dampen the outlook for Asia’s third-biggest economy. The rupee and sovereign bonds also weakened. The S&P BSE Sensex declined 1.3 percent to 38,645.18 ...

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US small caps at ‘crucial junctures’, says strategist

Bloomberg Smaller US stocks may be worth watching right now for both their relative performance and their technical picture. The Russell 2000 index of small-cap stocks has fallen 1.5 percent since February 22, while the S&P 500 index, which tracks the biggest American companies, has risen 4 percent. And that ...

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Earnings whipsaw US stocks; Treasuries rise

Bloomberg The latest batch of corporate earnings whipsawed US stocks as investors sought clues on the strength of the economy after a likely slowdown in the first quarter. The 10-year Treasury yield pushed above 2.6 percent. The S&P 500 Index erased early gains, with healthcare shares again under pressure as ...

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