The Abu Dhabi market gauge ended up 0.31% to reach 2,623.02 points. Shares of the emirate's leading developers Aldar and Sorouh gained 1.45% and 2.24%, respectively. Both firms, which started merger talks on Sunday, advanced in lockstep he last on Monday and on Sunday. The lockstep rise triggered an investigation by the ADX market supervision department. The UAE's first telecom provider Etisalat ended even at Dh9.30. Earlier in the day, Etisalat said it started legal procedures for winding up its Indian subsidiary Etisalat DB Telecom (formerly Swan Telecom). Etisalat, which was confronted with a legal row with the India's telecom regulator and eventually the supreme court on licences, blamed in its statement to the ADX its jointventure partners in India of 'unwillingness and lack of cooperation' to meet funding requirements in the licence issue. As a consequence, Etisalat to shut down operations in India.
Yuan conversion cap may be lifted
The 20,000 yuan daily conversion cap should be lifted when the "Shanghai-Hong Kong Stock Connect" launches in six months, said Financial Services Development Council head Laura Cha Shih May-lung.
New Zealand Credit Card Spending Rises 1.3%
Total credit card spending in New Zealand jumped a seasonally adjusted 1.3 percent on month in March, the Reserve Bank of New Zealand said on Wednesday - coming in at NZ$3.062 billion.
Court lifts ban on iron ore mining in Goa
[MUMBAI] India's top court has allowed iron ore miners to resume operations in Goa state after imposing a ban 18 months ago for environmental violations. Goa accounted for about half of the country's
Citigroup said to be divesting 50 branches
[NEW YORK] Citigroup is seeking buyers for about 50 branches holding US$3 billion of deposits in California as the third-largest US lender pares brick-and-mortar outlets, said three people involved i