Customers enter a Sephora store in New York City on Wednesday. Reuters
Euro zone stocks surged on Wednesday as investors piled into firms with big dividends on hopes European Central Bank chief nominee Christine Lagarde will maintain the ECB’s dovish stance, while Italian shares jumped over 2% on avoiding a EU sanction threat. The blue-chip eurozone STOXX index
PARIS: Airbus on Wednesday posted stronger-than-expected core second-quarter earnings, led by the switch to efficient new single-aisle jets, and maintained its profit forecast for the year while warning of delivery challenges in the second half. Europe’s largest aerospace group said second-quarter adjusted
Fast-growing insurer FWD is seeking to launch operations in China ahead of any initial public offering (IPO) and plans to bolster its non-life business in Asia, its chief executive said, as a potential shake-up looms in the region’s insurance sector. FWD, controlled by Richard Li, the entrepreneur and son of
ZURICH: ABB is pressing ahead with a review of its underperforming businesses and expects a customer slowdown and China-US trade tensions to mean a turbulent year, its Chairman and interim Chief Executive Peter Voser told Reuters. The Swiss engineering company is in a “heavy-lifting phase”, Voser said, completing the separation
Dubai Economy issued fines to nine pharmacies and two pharmaceuticals suppliers for inflating the prices of face masks and trying to take undue advantage of the high demand for hygiene essentials following the nationwide alert against the Covid-19 pandemic.
The total value of the UAE’s non-oil trade in the first half of 2019 increased to Dhs786 billion, a 3.3 per cent growth compared to Dhs760.5 billion in the first half of 2018, according to the Federal Competitiveness and Statistics Authority, FCSA.
The UAE Rulers’ initiatives keep us motivated. The country has recently approved an additional support package of Dhs16 billion, bringing the total stimulus package to Dhs126 billion.
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.