Thursday , November 23 2017
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Recent News

Bank of Sharjah, Invest Bank in merger talks to form $13.8bn entity

Dubai / Reuters Bank of Sharjah and Invest Bank are in merger talks that could create an institution with about AED50.6 billion ($13.8 billion) of assets, sources familiar with the matter told Reuters. In the latest latest sign of consolidation in the United Arab Emirates’ crowded banking industry, the two ...

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Masdar opens 3rd wind farm in UK

GREAT YARMOUTH / WAM Masdar, the Abu Dhabi Future Energy Company, on Wednesday, inaugurated its third wind farm in the United Kingdom, bringing the combined power-generating capacity of all three projects to 1 GW enough clean energy to supply nearly 1 million homes. Together with its partners, Statoil and Statkraft ...

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ADFD disburses AED80bn to 84 nations by 2016-end

abudhabi-fund copy

Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, hosted a seminar for the students of the United Arab Emirates University (UAEU) to discuss the Fund’s development work, operational activities, and achievements spanning 84 beneficiary countries. The panellists shared insights on ...

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US stock rally pauses, dollar down before Fed minutes

epa06318488 Traders work on the floor of the New York Stock Exchange at the Opening Bell in New York, New York, USA, on 09 November 2017.  EPA-EFE/JUSTIN LANE

Bloomberg US stocks fluctuated near all-time highs in light action before the Thanksgiving holiday as traders await the FOMC minutes for clues on the monetary policy. The S&P 500 Index was little changed—after breaching 2,600 for the first time—as US economic data gave mixed signals. Business equipment orders fell for ...

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US stocks hit record; NAFTA progress boosts Mexican peso

epa06216304 US Federal Reserve Chair Janet Yellen speaks at a press conference after announcing that the Federal Reserve will leave rates unchanged in Washington, DC, USA, 20 September 2017. the Fed also announced that it would slowly start to reduce its portfolio of bonds.  EPA-EFE/JIM LO SCALZO

Bloomberg US stocks hit a new high, while the Canadian dollar and Mexican peso scored gains after a report of progress in negotiations over the North American Free Trade Agreement (NAFTA). The S&P 500 Index approached the 2,600 mark, reaching its highest level on record. While the Thanksgiving holiday gives ...

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Dollar gains, stocks rebound in short week for US exchanges

epa04514784 Traders work on the floor of the New York Stock Exchange (NYSE) at the start of the trading day in New York, New York, USA, 04 December 2014.  EPA/ANDREW GOMBERT

Bloomberg The dollar gained and US stocks rose after two down weeks as Congress takes a holiday break from tax talks and the closely watched Alabama senate election nears. The Standard & Poor’s 500 Index opened slightly higher at the start of a truncated Thanksgiving week as investors gauge whether ...

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Geopolitics weigh on region, UK sukuk ruling hits Dana Gas

epa02858721 Emirati investor follows the financial market by watching the screen board at the Dubai Financial Market in Gulf Emirate of Dubai, United Arab Emirates on 07 August 2011. According to media reports, stocks tumbled across the Middle East on 07 August, a day after the news of the historic US credit downgrading, Gulf countries stock markets have dropped on 07 August. The Dubai Financial Market Index opened trading down 4.5 percent before clawing back some ground to end the day 3.69 percent weaker at 1,484.31 points. Shares in property giant Emaar Properties shed 5.26 percent. Rating agency Standards & Poors announced on 05 August it was downgrading the United States' credit rating from Triple A to AA+. The announcement panicked international markets, while US authorities expressed criticism and said it was not justified.  EPA/ALI HAIDER

Reuters Middle Eastern stock markets generally fell on Sunday, weighed down by geopolitics, while Dana Gas shares sank in Abu Dhabi because of a British High Court ruling on its Islamic bonds. In the last few weeks, geopolitics has become a significant factor for regional markets amid concern about instability ...

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Firms with stable earnings witness gains

epa05902513 A general view of offices in Hong Kong's core central business district (CBD), Hong Kong, China, 11 April 2017. According to recently released report by the global property giant Knight Frank entitled 'Global Cities The 2017 Report ? The Future of Real Estate in the World's Leading Cities', office buildings in Hong Kong continue to command the highest skyscraper office rents in the world as at the second quarter of 2016. According to the report, mainland Chinese companies, especially financial firms, have become the major demand driver for prime offices in Central and Admiralty, Hong Kong?s CBD. Due to the launch of bilateral financial agreements between Hong Kong and the mainland, such as the Shanghai-Hong Kong Stock Connect in 2014 and Mutual Fund Recognition in 2015, around 50 per cent of new lettings in Central are to Mainland tenants. The influx of mainland tenants and their preference for Grade-A offices in the CBD has been the main contributor to soaring rents. In the past two years, Grade-A office rents in Central have surged 20 per cent, leading some firms to relocate to the eastern part of Hong Kong Island.  EPA/ALEX HOFFORD

Bloomberg Soapmaker and real-estate stocks have taken over a rally that used to be led by social networks and smartphone makers. Companies with stable earnings and dividends have shepherded gains in November, the first time this year that the two best-performing industries are defensive ones. So, while this looked like ...

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