Asian stocks erased gains as Sun Hung Kai Properties Ltd. (16) led a decline in Hong Kong shares after a director of the world’s largest real estate company was arrested as part of a bribery investigation. Exporters rose as confidence among U.S. homebuilders improved.
Sun Hung Kai slipped 1.6 percent in Hong Kong following the arrest of Thomas Chan Kui-Yuen, an executive director at one of the company’s units, by the Independent Commission Against Corruption. Samsung Electronics Co. (005930), Asia’s biggest consumer- electronics maker, gained 1.1 percent in Seoul. LG Display Co. (034220), a manufacturer of liquid crystal displays that gets about 16 percent of its sales from the U.S., rose 1.4 percent.
Al Bustan spends Dhs15m on renovation
Al Bustan Centre and Residence, the popular hotel apartments among tourists and businessmen, will now have a new and more vibrant look with the near completion of its major renovation.
Omnix releases new solution in Mena
Omnix International, the MENA region’s leading provider of computer aided engineering solutions, has announced the Middle East availability of Autodesk’s new AutoCAD 2015 edition, the latest release
Mideast funds bullish on Kingdom, bearish on UAE
Middle East funds are heavily bullish toward Saudi Arabian stocks after news the market will open to direct foreign investment, while they are bearish on the United Arab Emirates because of concern