Monday , September 23 2019

Recent News

UAE provides relief to survivors of Houthi shelling in Hais, Yemen

HODEIDAH / WAM Through its humanitarian arm, the Emirates Red Crescent (ERC), the UAE provided relief aid to Yemenis who survived the Houthi militias artillery shelling in Hais, southern Hodeidah, west of Yemen. A team from the ERC distributed shelter aid and food baskets to the families in Hais, following ...

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UAE government spending rises to AED119 billion in Q1

ABU DHABI / WAM The UAE consolidated government expenditure rose AED119 billion during Q1 2019, a growth of 21.6% as compared with the same period in 2018, according to figures released by the Central Bank of the UAE (CBUAE). In its quarterly review, CBUAE said, UAE government expenses went up ...

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UAE-Saudi non-oil trade hits AED417.6b in 5 yrs

ABU DHABI / WAM Non-oil trade exchange between the United Arab Emirates and the Kingdom of Saudi Arabia has reached AED417.6 billion over the past five years, Sultan bin Saeed Al Mansouri, Minister of Economy, has stated. Non-oil exchange between the two countries reached AED107.4 billion in 2018, a surge ...

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Best-performing currency of Asia may be primed for gains

Bloomberg The Thai baht has been the runaway success among Asian currencies this year — surging more than 6 percent while the US-China trade war has punished peers such as the South Korean won and Chinese yuan. There are two reasons why it may rise even more. The Thai currency ...

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Canadian bank stocks set for a $23b comeback

Bloomberg Canadian bank shares are returning with a vengeance, after lagging Canada’s broader stock market for much of the year. Toronto-Dominion Bank shares are on pace to climb for 13 straight days, the longest winning streak since at least 1983. Canadian Imperial Bank of Commerce has been rising for 12 ...

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Bonds rally, stocks struggle as traders await Fed move

Bloomberg Bonds rallied globally while stocks struggled for traction as investors marked time until the Federal Reserve was expected to conclude its policy meeting on Wednesday, with officials expected to cut interest rates again and possibly move further to calm overnight-loan markets. The dollar rose. Government bonds climbed from London ...

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Hong Kong property stock dive not enticing enough for Eastspring

Bloomberg Even after a plunge in Hong Kong property shares following months of protests in the city, Eastspring Investments says some of the biggest stocks in the sector remain unappealing because of their valuations. John Tsai, a portfolio manager in Singapore, trimmed his holdings of Henderson Land Development Co and ...

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US stocks slip, Treasuries advance as oil trims gains

Bloomberg US index futures edged lower with European stocks while Treasuries continued higher as investors weighed the fallout from a drone attack on one of the world’s biggest oil facilities and the record surge in crude prices that followed. Contracts on the three main US stock indexes dipped after fluctuating ...

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