market

Sweet deal: Nestle sells US candy to Ferrero for $2.8 bn

london - Emirates voice

Nestle said Tuesday it has agreed to sell its US candy business to Italy's Ferrero for a whopping $2.8 billion in cash as the Swiss food giant shakes up its product portfolio. Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger andRead more

London stocks end year on record

London - Emirates voice

London's FTSE 100 ended 2017 on a new record high today, on a shortened final day of trading before the New Year break. The benchmark index of blue-chip shares was boosted once again by strong mining stocks, and closed at 1230 GMT, up 0.9 percent at a new closing high of 7,687.77 points, having earlier reached a new intraday recordRead more

Pickups, SUVs in spotlight at 2018 Detroit auto show

Detroit - Emirates Voice

Pickup trucks and SUVs will be among the biggest stars of this year's Detroit Auto Show, reflecting the US tilt towards larger vehicles in an era of relatively low gasoline prices. Car sales data from 2017 show large models grabbing their biggest-ever share of the US market. Judging from the agenda of the 2018 show, which kicks off this weekend at theRead more

Will 2018 mirror 2011 as a landmark year for precious metals?

Dubai - Emirates Voice

There is a sense of deja vu as we enter the New Year in the precious metals market. Last year proved to be gold’s best year since 2010 with a 12.5 per cent gain in price, while its nemesis the US dollar had its worst year since 2003 and lost 9.8 per cent against a basket of global currencies. SoRead more

US asset managers race to list bitcoin-trading funds

Dubai - Emirates Voice

US fund managers are ramping up efforts to tap into the fever surrounding digital assets, and the latest planned bitcoin products could deliver some head-turning and stomach-churning price movements if they come to market. The new idea is to build “leveraged” and “inverse” funds that would rise - or fall - twice as fast as the price of bitcoin onRead more

Profits of 30 listed insurance companies amount to AED1.2 billion

Abu Dhabi - Wam

A total of 30 listed insurance companies on Abu Dhabi Securities Exchange and Dubai Financial Market reported AED1.2 billion in profit during the first nine months of 2017, a growth of 79.6 percent from AED668 million during the same period last year as a direct result of the rise in insurance premiums. Most of the listed companies posted decent gainsRead more

Suicide bombers attack Baghdad market, killing 8

Baghdad - Emirates Voice

Two suicide bombers attacked a Baghdad market on Monday, leaving eight people dead, a security official said, adding police killed three other assailants. "Five suicide bombers attacked a market and shops in the Nahrawan area," a police captain told AFP. "The police killed three of them but the other two blew themselves up, killing eight civilians and wounding nine." Read more

How the year 2017 panned out for Dubai property

Abu Dhabi - Emirates Voice

Dubai witnessed an upsurge in both ready and off-plan sales this year, with overall property transactions until September totalling to more than 50,000, according to the Dubai Land Department (DLD). Heightened off-plan sales, lower priced inventory, efficient unit sizes and yield compression are the key factors that summarise the 2017 Dubai real estate market. Off-plan sales Off-plan sales continued toRead more

Prescient messages about Indian companies circulate

Mumbai - Emirats Voice

Three days before Dr. Reddy's Laboratories Ltd announced quarterly results this summer, a message circulated on a private WhatsApp group saying the Indian drugmaker would not post good numbers. Dr. Reddy's was going to report a loss, according to the message on the "Market Chatter" group, which was posted on July 24 from a mobile phone number that Reuters tracedRead more

Global smartphone sales keep ringing momentum

Abu Dhabi - Emirates Voice

The global smartphone market has momentum going into the year-end holiday shopping season, according to preliminary figures released Thursday by International Data Corporation (IDC). An estimated 373.1 million smartphones were shipped worldwide during the third quarter of this year in a 2.7 percent rise from the same period in 2016, IDC said in a statement. While IDC analysts considered theRead more