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Recent News

Fuel oil profit margins rise to five-year high

Fuel oil profit margins rise to five-year high

SINGAPORE / Reuters Fuel oil profit margins have surged to their highest in more than five years on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs. Fuel oil, the residue left over after initial crude refining, has become scarce in ...

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UAE Clearing System handles cheques worth AED643.7bn

cheque_automation_software copy

Abu Dhabi / WAM A total of 12.922 million cheques worth AED643.7 billion were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data. A total of AED28.9 billion worth of 546,000 cheques were bounced from January through the ...

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DEWA unit-Dell deal to develop cloud computing solutions

Dubai / WAM Data Hub Integrated Solutions (MORO), a fully-owned subsidiary of Dubai Electricity and Water Authority (DEWA) signed a Memorandum of Understanding with Dell to enhance collaboration and partnership between the two companies and to develop and deliver cloud computing solutions, integrated infrastructure administration services and servers, secure data ...

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Stocks

China stocks win MSCI inclusion

China stocks win MSCI inclusion copy

Bloomberg Chinese stocks were little moved by their addition to MSCI Inc.’s benchmark indexes, as investors weighed the symbolic importance of inclusion against the limited impact on short-term inflows. While MSCI’s announcement was a landmark step in China’s integration with the global financial system, it will initially have a small ...

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Oil slide weighs on stocks

Bloomberg Global stocks retreated and the yen strengthened after oil tumbled into a bear market on concern a supply glut will persist. The pound extended its decline as the UK prepared to start a new parliamentary session under Theresa May’s minority government. European shares fell for a second day as ...

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Brexit worry hits pound; Europe stocks extend gains

FILES - A picture taken on June 1, 2008 shows a huge symbol of the Euro in front of the European Central Bank (ECB) in Frankfurt/M., western Germany. The US Federal Reserve struggled with central bank partners on September 26, 2008 to avert a "money market meltdown" as US lawmakers wrangled over a plan to stem the worst financial crisis most have ever known. Central banks added 13 billion dollars (8.8 billion euros) to an emergency fund that has become crucial for European banks, bringing the total made available so far to 290 billion dollars.   AFP PHOTO  /  DOMINIQUE FAGET

Bloomberg The pound sank with gilt yields as Britain’s central bank governor underlined his dovish stance in the face of Brexit. European stocks rose a third day amid a bullish mood for equity investors, and the dollar was steady as this week’s stream of Fed speakers continued. The UK currency ...

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Asia shares approach 2017 high after US stocks hit record

A man looks at an electronic stock indicator showing global stock prices including Japan's benchmark Nikkei 225, top center, which gained 255.93 points, or 1.77 percent, and closed at 14,718.34 in Tokyo Monday, Feb. 10, 2014. Asian stock markets were mostly higher Monday as investors looked ahead to Janet Yellen's first comments before Congress as the new Federal Reserve chairwoman. (AP Photo/Shizuo Kambayashi) (AP Photo/Shizuo Kambayashi)

Bloomberg Asia stocks headed for a third day of gains after the S&P 500 Index rose to a fresh record high and a Federal Reserve official’s comment that US expansion has “a long way to go” boosted confidence in the world’s biggest economy. The MSCI Asia Pacific Index advanced 0.1 ...

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S’pore property stocks may build on best rally in 5 years

Singapore property stocks may build on best rally in 5 years copy

Bloomberg Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over. With an expected pickup in real estate following the easing of housing curbs, developers are expected to be the bright spot in Singapore equities as gains in ...

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