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Recent News

GCC hospitality project value exceeds $148bn


  ABU DHABI / WAM The total value of 1,153 hospitality projects in the six members of the Gulf Co-operation Council (GCC) exceeded US$148.4 billion (AED544.62 billion) in the first quarter of 2017, according to a new report by project research and intelligence provider BNC Network. The GCC’s hospitality industry ...

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UAE, Azerbaijan keen to enhance bilateral relations in nine key areas

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  ABU DHABI / WAM The sixth session of the UAE-Azerbaijan Joint Economic Committee, held at the Grand Hyatt Hotel in Dubai, and co-chaired by Sultan bin Saeed Al Mansouri, Minister of Economy, and his counterpart, Shahin Mustafayev, Minister of Economic Development in Azerbaijan, concluded on a high note. Those ...

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UAE attends UK-GCC business conference

  LONDON / WAM Embassy of the UAE in London has hosted a lunch banquet in honour of a delegation from the UAE Ministry of Economy and private organisations and British investors participating in the UK-GCC Public Private Partnership Conference in London, to bolster ties among the business communities in ...

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US stocks rise as treasuries, dollar slip

US stocks rise as treasuries, dollar retreat

  Bloomberg US stocks rebounded while the dollar and Treasuries slipped, as major assets continued to churn in tight ranges amid corporate results and a string of potential geopolitical catalysts. The S&P 500 Index halted a two-day slide on earnings from American Express Co. and Qualcomm Inc. The greenback slipped ...

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Stocks advance with dollar as haven demand eases

Stocks advance with dollar as haven demand eases copy

  Bloomberg Markets struck a note of cautious optimism on Wednesday, with European stocks rising and haven assets declining. UK shares fell as the pound extended its gain following the surprise election announcement. Banks and automakers helped spur the rebound in Stoxx Europe 600 Index following the biggest one-day loss ...

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Pound rises as British PM announces early election

Pound rises as May announces early election copy

  Bloomberg The pound jumped after British Prime Minister Theresa May announced an early general election. European stocks declined as traders caught up with a swathe of geopolitical events following the long weekend. Sterling swung from gain to loss and back again versus the dollar as May set the vote ...

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Dollar drops as treasuries steady

Dollar drops, treasuries steady copy

  Bloomberg The dollar fell and Treasuries held gains as soft inflation data from the US continued to feed into markets after the holiday weekend. US stocks edged higher as upbeat economic data from China offset lingering geopolitical concerns. The S&P 500 Index rebounded from a weekly drop, though trading ...

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‘Japan stock gloom overdone’

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  Bloomberg Japanese stocks have been battered so badly that they’re too cheap to ignore, says the $165 billion investor Pictet Asset Management Ltd., after the Topix index tumbled to its fifth straight weekly loss. “It’s a buying opportunity,” Hiroshi Matsumoto, head of Japan investment at the money manager, said ...

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