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FTA clears tourists refund Scheme
 
 
Financial and Economic committee discusses 2019 budget
ABU DHABI: The Financial and Economic Committee has discussed components of the general budget of the federal government for the fiscal year 2019. The meeting was chaired by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, in the presence of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. Following the meeting, Sheikh Hamdan pointed out that
   
Dubai banks’ Q1 net up 24 per cent at Dhs4.49b
DUBAI: The net profits of Dubai banks jumped by around 24 per cent to Dhs4.49 billion during the first quarter of this year, compared with Dhs3.63 billion in the first quarter of last year. The emirate’s banks recorded a 1.2 per cent growth in their total assets in the first three months of this year, reaching Dhs880.36 billion compared with Dhs869.68 billion by the end of last year. The operating income of the four Dubai banks
 
 
UAE firm plans to invest $3b in Pakistan real estate sector
ABU DHABI: UAE-based BMS International Commercial Investment LLC, one of the Royal Group Companies of Sheikh Saeed Bin Khalifa Al Nahyan, has shown interest in investing $3 billion in different economic sectors of Pakistan, with a focus on real estate. Louai Mohammed Ali, chairman of BMS International Commercial Investment, made the commitment to invest in Pakistan’s real estate development, agriculture and fisheries, energy,
   
US growth slows in Q4; consumer spending surges
WASHINGTON: US economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a jump in imports. Gross domestic product expanded at a 2.9 per cent annual rate in the final three months of 2017, instead of the previously reported 2.5 per cent, the Commerce Department said in its third GDP estimate for the period on Wednesday. That
 
 
Adnoc signs deals for sale of up to 1.5m tonnes of naphtha
ABU DHABI: The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the signing of two new agreements, with Idemitsu Kosan of Japan and SCG Chemicals of Thailand, for a combined amount of up to 1.5 million tonnes of Naphtha per year. These deals follow the recent announcement from Adnoc that it had signed a similar three-year agreement with Malaysia’s Lotte Chemical Titan (LCT), one of the largest polyolefin producers in
   
World stock markets flounder as US bond yields rise
London: World stock markets slid on Wednesday on profit-taking, as investors fretted over rising US Treasury yields and speculation 2018 will see four interest rate rises. New York equities tumbled once more a day after after the yield on the 10-year US Treasury bond hit 3.0 per cent for the first time in more than four years as the Dow dipped in early trading. “The European markets looked increasingly ugly as Wednesday went
 
 

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ADSM
 DFM Kuwait   S.Arabia
0.09%
 
0.90%
 
0.45%
 
0.24%
 
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34,616.64
165.87
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45,876.70
504.75
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22,278.12
190.08
 

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5.1382
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160.00
00.75
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32,705
00.00
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51,342
300.00
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1,346
00.00

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32.00
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42.49
     
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