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Recent News

ADIB Q2 net profit up 8.7% to AED551.6mn

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ABU DHABI / Agencies Abu Dhabi Islamic Bank (ADIB) on Sunday posted an 8.7 percent rise in second quarter profit, above analysts’ expectations. Higher fee income boosted second-quarter revenues by 3.9 percent, the bank said in a statement. The emirate’s largest sharia-compliant bank made a net profit of AED551.6 million ...

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Stocks

China ‘overrated’ bonds may challenge foreign rating firms

Shanghai, CHINA: An elderly Chinese investor walks past a stock price board at a private securities firm in Shanghai, 02 July 2007.  Chinese share prices closed 0.41 percent higher after a roller-coaster day as steel makers and power generators led a technical rebound amid continued concerns over liquidity. The market dipped below 3,800 points in early afternoon trade, before rebounding, as the market digested news of government plans for a 1.55-trillion-yuan (USD 200 billion) bond issue and the lowering or suspension of a tax on bank deposit interest.     AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

Bloomberg China has finally opened up its credit-rating market. But foreign credit assessors aren’t likely to waltz in, local money managers say. The challenge for rating companies, which generally charge issuers for scoring them, will be to win business from borrowers used to getting high grades from local assessors. That’s ...

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Earnings boost stocks, euro retreats as ECB meets

Earnings boost stocks, euro retreats as ECB meets copy

Bloomberg Stocks rose Wednesday on earnings strength, with the S&P 500 Index and Nasdaq Composite Index adding to Tuesday’s record highs. The euro retraced some recent gains as European policy makers gathered in Frankfurt before Thursday’s rate decision. Oil fluctuated. It was a day of reversing trends in Europe, with ...

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Dollar falls as ‘reform hopes’ dim

Dollar falls as US reform hopes dim; Gold climbs

Bloomberg US stocks fell and the dollar slid to an 11-month low as President Donald Trump’s economic revitalization agenda once again faltered. European shares dropped amid earnings disappointments, and gold climbed to the highest in two weeks. The greenback lost ground against all but one of its G-10 peers on ...

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Region falls; weak earnings hit Egypt

Region falls; weak earnings dampen Egypt copy

DUBAI / Reuters Middle East stock markets fell on Tuesday as a tumble by real est-ate developer DAMAC caused Dubai to break a seven-session ris-ing streak and weak corporate earnings helped to pull down Egypt’s bourse. The Egyptian blue chip index, which had closed at a record high on Monday, ...

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Asia stocks ex-Japan rise to two-year high

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Bloomberg Asian equities ex-Japan rose to their highest in two years as better-than expected economic data in China and receding bets on rate hike by US boosted the growth outlook for the region. China small-cap shares fell amid regulatory concerns. The MSCI Asia Pacific Index ex-Japan rose for a sixth ...

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