Category Archives: Top Markets

Dubai’s Enoc secures $500 million loan to fund local expansion

DUBAI: Emirates National Oil Company (Enoc) has obtained a $ 500 million credit facility from seven international and regional lenders to fund its local expansion in the next five years.“Over the next five years, the group will focus on expanding ...

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UAE non-oil economy gains momentum in July

DUBAI: The UAE’s non-oil economy gained momentum in July, driven by a growth in output and new orders, according to a new study.Emirates NBD’s UAE Purchasing Managers Index (PMI) survey, which monitors activity in the private sector, said that companies ...

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Saudi private sector growth accelerates moderately in July

DUBAI: Growth in Saudi Arabia’s non-oil private sector accelerated moderately in July, although the expansion in employment slowed, a corporate survey showed on Thursday.The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from ...

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Rio Tinto rewards shareholders as first-half profits more than double

SYDNEY: Global miner Rio Tinto more than doubled its first-half profit buoyed by Chinese iron ore demand and rewarded shareholders with a record interim dividend and $ 1 billion in share buybacks.Underlying earnings for the six months to June 30 ...

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Amazon in sign of growth holds huge US jobs fair

FALL RIVER, Mass.: Amazon held a giant job fair on Wednesday and plans to make thousands of job offers on the spot at nearly a dozen US warehouses. Though it is common for Amazon to ramp up its shipping center ...

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Ryanair says Brexit disruption to UK-EU flights increasingly likely

LONDON: Major disruption to flights between Britain and the European Union from March 2019 is looking increasingly likely as Brexit talks proceed, Ryanair chief executive Michael O’Leary warned on Wednesday.Airlines say they would need a new deal to replace the ...

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Qatar Airways reverses decision to buy into American Airlines

NEW YORK: Qatar Airways will not proceed with its proposed financial investment in American Airlines Group Inc, reversing an earlier decision to build a stake of up to 4.75 percent in the US carrier.“Further review of the proposed financial investment, ...

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Apple shares sail to record high on healthy iPhone smartphone sales

SAN FRANCISCO: Apple on Tuesday delivered surprisingly strong fiscal third-quarter earnings and signaled that its upcoming 10th-anniversary phone lineup is on schedule, driving the stock up 6 percent to an all-time high in after-hours trading.The stock climbed above its intraday ...

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