India’s Ambani nears deal with top GCC sovereign funds

Mumbai: Three of the largest Middle Eastern sovereign wealth funds are in advanced talks to invest in Reliance Industries Ltd.’s digital arm, people familiar with the matter said, potentially adding to the roster of marquee investors that have piled into the business. Abu Dhabi’s Mubadala Investment Co. is nearing a deal to invest about $1 billion […]

China factory activity expands at a slower pace as global slump drags on growth

Beijing: Factory activity in China expanded at a slower pace in May as the country attempts to get back on track after the coronavirus, official data showed Sunday, with the global economic slump making the sector’s recovery difficult. China’s factories have stirred back to life after the lifting of strict lockdown measures imposed when the […]

RAK Ceramics reports Dh30.2 million Q1 net profit

Dubai: RAK Ceramics on Wednesday reported net profit of Dh30.2 million for the first quarter of 2020, down by 18.1 per cent year on year. The company attributed lower profits to decrease in revenue and investments in upgraded branding and showrooms, as well as higher freight costs. Total gross profit margin increased by 110 bps […]