Finance

Aldar sales record fails to lift Abu Dhabi bourse

The Abu Dhabi stock market index ADXGI fell by 0.70 per cent to 4,986.09 points on Sunday, May 18. Aldar Properties, which entered the MSCI emerging market index last week, plummeted 3.22 per cent to AED3.91. Earlier in the day, Aldar revealed that it has sold all units of its new Al Hadeel residential community in Abu Dhabi, on the first day of the off-plan sales launch.  “The sell-out of...

Emirates interested in buying top airline caterer from Lufthansa

UAE. Emirates, the No. 1 airline on international routes, is interested in buying the world’s leading inflight catering business from Deutsche Lufthansa AG (LHA), the head of the Dubai-based company’s Dnata services arm said. Lufthansa’s LSG Sky Chefs would be a good fit as Emirates Group seeks deals in ground handling, catering and other travel services, Dnata President Gary Chapman said in an...

Standard Chartered sees US$5.5 billion ship loan growth on oil spend

Standard Chartered Plc (STAN), the British bank that earns most of its profit from Asia, expects to increase its $5.5 billion of loans to the shipping industry as demand for vessels recovers and oil-industry investments rise. The London-based bank’s lending to ship companies jumped more than 30 percent last year and it expects another “very active year” in 2014, Nigel Anton, head of shipping...