Wednesday , July 18 2018

Recent News

‘UAE-China Week’ begins

Abu Dhabi / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, laun-ched ‘UAE-China Week,’ which is being held in Manarat Al Saadiyat from Tuesday until July 24. The event coincides with the visit of Xi Jinping, President of China, to the UAE, on Thursday, and celebrates ...

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Kuwait bank seeks talks to create $92bn Islamic lender

Bloomberg Kuwait Finance House KSCP wants to hold renewed talks with Bahrain’s Ahli United Bank BSC about a takeover, a potential boost to the island kingdom as it seeks financial support from neighbours. Shares in Ahli United Bank, or AUB, rose 6.8 percent on Tuesday to the highest levels since ...

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Abu Dhabi firm challenges Cerberus bid for Abraaj unit

Bloomberg A unit of Abu Dhabi Financial Group has made a fresh, $55 million offer for the rights to manage Abraaj Group’s funds, challenging a bid from Cerberus Capital Management LP, according to people familiar with the matter. Abu Dhabi Capital Management told Abraaj’s liquidators it would pay $30 million ...

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Stocks

Tech shares pare losses; dollar higher on Powell

Bloomberg US technology shares pared losses as investors downplayed the impact of Netflix’s disappointing subscriber growth for the rest of the FAANG stocks. The dollar strengthened as Federal Reserve Chairman Jerome Powell made the case for further tightening. The Nasdaq 100 climbed from its lows as Facebook turned positive and ...

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China shares in Hong Kong slide to lowest since 2017

Bloomberg Losses in Chinese equities accelerated Tuesday, with a gauge of stocks in Hong Kong closing at its lowest level since last August. The Hang Seng China Enterprises Index fell 1.1 percent, its biggest loss since July 11. The Shanghai Composite Index dropped 0.6 percent for its third straight decline. ...

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Stocks drift amid earnings; bonds and dollar decline

Bloomberg US equities drifted between gains and losses and European stocks were mixed as traders looked towards company results after lackluster economic data out of China spurred declines for many Asian shares. The dollar weakened against most peers. Earnings were better-than-expected from the likes of Bank of America Corp. and ...

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Pound gains as traders await Brexit progress

Bloomberg The pound picked up on Monday against a weaker dollar, with further gains seen dependent on the progress of the UK’s Brexit plans and whether data will cement the odds of a Bank of England interest-rate increase. Sterling’s moves could be influenced by any response from UK lawmakers or ...

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Anxiety lurks everywhere across US stock market

Bloomberg The Nasdaq 100 is at a record, stocks have just strung together two straight weeks of gains and one of the best earnings seasons in a decade is at hand. Bears vanquished? Not entirely. While benchmark measures of volatility are as calm as they’ve been in five months, among ...

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