Middle East & Africa
Sunday, 16 June 2013 17:21
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ABU DHABI: Abu Dhabi investment firm Waha Capital said on Sunday it had invested an undisclosed amount in a newly established healthcare group in the United Arab Emirates through majority stakes purchased in some of its hospital and laboratory assets.Waha, whose shareholders include Abu Dhabi government entities, said the investment in Dubai-based Anglo Arabian Healthcare (AAH) would help to support the healthcare firm's expansion plans in the next five years.Healthcare businesses in the Gulf region are expected to boom in coming years as rising wealth couples with an increase in so-called lifestyle diseases - for example, five of the six Gulf Cooperation Council nations are in the global top 10 for prevalence of diabetes, according to the International Diabetes Federation.AAH owns and operates 16 assets and employs over 300 people in hospitals, clinics, pharmacies and diagnostic centers across the UAE, Waha Capital said in a statement.Under the deal, Waha bought ...
NEW YORK: US stocks bounced sharply higher in opening trade Wednesday, rebounding from the prior day's sell-off amid market volatility over concerns about central banks' stimulus plans.Five minutes into trade, the Dow Jones Industrial Average jumped 103.30 (0.68 percent) to 15,225.32, looking to snap its two-day losing streak.The broad-based S&P 500 rose 10.83 (0.67 percent) to 1,636.96, while the tech-rich Nasdaq Composite Index added 18.86 (0.55 percent) at 3,455.80."There isn't any continuity to the market's ...
JOHANNESBURG: South Africa's benchmark share index tumbled 3 percent on Tuesday, as investors hammered everything from mining companies to banks in a global sell-off of emerging market assets.The benchmark Top-40 index was down 2.9 percent at 35,439.95 at 1123 GMT, putting it on track for its biggest one-day drop since late 2011.Copyright Reuters, 2013 ...
NAIROBI: Kenya's benchmark share index fell for the first time in five sessions as investors took profits after it touched the psychological 5,000 points resistance level, traders said.The shilling ended steady against the dollar. "After the post-election rally, every time we touch the 5,000 mark profit-takers hit the market," said Rufus Mwanyasi, an analyst at Tsavo Securities.The benchmark NSE-20 share index fell 0.4 percent to 4,986.93 points.Kenyan shares have rallied 21 percent so far this ...
DUBAI: Kuwait's bourse suffered its largest one-day drop in seven months on Sunday in a profit-taking move analysts said was long overdue, while UAE markets extended their bullish run and other regional exchanges were mixed.Kuwait's index lost 3 percent, down for a third session since Tuesday's 53-month peak and its biggest daily decline since October 2012."It was panic selling today rather than structured profit-taking but, nevertheless, it's a long overdue corrective move," said Fouad Darwish, ...
DUBAI: Kuwait Finance House (KFH), the Gulf Arab state's largest Islamic bank, will begin a 64 million dinars ($223.9 million) capital increase program on Wednesday to fund the bank's expansion and strengthen its balance sheet.The sale of 639 million new shares in the bank will run for two weeks and will boost its capital by 20 percent, a statement from the bank said on Sunday.Kuwaiti banks have suffered since the global financial crisis because of ...
JOHANNESBURG: South African stocks booked record high closes on Friday as resource shares such as Exxaro and AngloGold Ashanti were boosted by a weaker rand. The benchmark Top-40 index ended at a record close of 37,599.86, up 0.26 percent for the session. The All-share index was up 0.18 percent to 42,016.45, also a record closing high.Copyright Reuters, 2013 ...
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