Wednesday , January 29 2020

Recent News

First Abu Dhabi Bank posts net profit of AED12.5 billion

ABU DHABI / WAM First Abu Dhabi Bank (FAB), on Tuesday reported its full year financial results for 2019, announcing a net profit of AED12.5 billion, up 4% from AED12.0 billion in 2018. Commenting on the results, HH Sheikh Tahnoun bin Zayed Al Nahyan, Chairman of FAB, said, “2019 marked ...

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UAE’s nuclear plant unit ‘ready’ to begin operations

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec), and its subsidiary Nawah Energy Company (Nawah) announced that an extensive operational readiness assessment performed by an international team of nuclear industry experts from the Atlanta Centre of the World Association of Nuclear Operators (WANO), concluded that Unit 1 of ...

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Tabreed profit grows by 11% to hit AED472.5m

ABU DHABI / WAM The National Central Cooling Company (Tabreed), on Tuesday released its audited financial results for 2019, reporting an 11% increase in net profit to AED472.5 million for full year, adding 51,336 Refrigeration Tonnes (RT), of new customer connections, resulting in the delivery of 1,182,715 RT of cooling ...

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Stocks pull back as China bars travel to Hong Kong

Bloomberg European stocks erased gains while US index futures trimmed an advance as China restricted travel to Hong Kong in the latest international effort to curb the Sars-like virus from spreading. The yuan fluctuated and Treasuries turned higher. The Stoxx Europe 600 Index gave up an early advance after Hong ...

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South Korean stocks shattered over virus

Bloomberg South Korean stocks bore the brunt of Asian stock declines tied to the new coronavirus on Tuesday as more markets opened after holidays and concerns spread from short-term consumerism to longer-term growth. The benchmark Kospi plunged as much as 3.6%, set for the biggest decline since October 2018. Companies ...

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China market opening delayed until February 3

Bloomberg China’s financial markets will remain closed until next Monday after authorities extended the Lunar New Year break by three days as they grapple with the worsening virus crisis. Trading will resume February 3, the Shanghai and Shenzhen stock exchanges said. Shanghai authorities separately advised that companies shouldn’t start work ...

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Deadly coronavirus fears drive sell-off in stocks, oil, yuan

Bloomberg Intensifying concern about the economic and human impact of the coronavirus sent stocks, oil and China’s yuan tumbling on Monday while spurring haven assets. Treasuries gained and Italian bonds jumped after regional elections. The Stoxx Europe 600 Index headed for its worst decline since October, with miners dropping by ...

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Thai stocks drop most since 2016 on ‘tour ban’

Bloomberg Thailand’s stock market tumbled on the prospect of economic turbulence after China banned outbound group tours to fight the spread of the novel coronavirus that’s sickened thousands of people. The SET index slid 2.9% on Monday, the most since 2016, with tourism shares among those bearing the brunt of ...

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