Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.Asia Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
U.S. Trade Representative Robert Lighthizer will meet with officials from the European Union and Japan at the ministerial meeting of the Organization for Economic Co-operation...World Economyread more
Dubai's largest developer Emaar Properties reported a 29 percent year-on-year increase in net income for its second quarter late on Monday, but nonetheless missed analyst expectations.
The firm, builder of the world's tallest tower in Dubai, reported a net profit of $236 million, while revenues came in at $764 million, a fall of 9.7 percent compared to a year earlier. Emaar Properties shares traded 1.7 percent lower in early trade on the Dubai Financial Market on Tuesday.
Results were "led by the strong performance of the Malls and Hospitality business segments," the company said in a statement.
The total value of sales of Emaar's projects in Dubai during the first half of 2014 was $2.459 billion, 43 percent higher than sales in the same period last year. A fifth of buyers were international investors. Declining sales would serve as an important indicator of a slowing real estate boom.
"Although Emaar's bottom-line performance comes below our expectation, we continue to maintain our bullish stance on the company; mainly on strong off-plan sales recorded in Dubai, along with improving performance at the recurring portfolio level," NAEEM Brokerage argued in its latest research note.
Investors are also awaiting details of the company's plans for the initial public offering of its malls unit this year. Emaar Properties, in which the Dubai government has a 31 percent stake, plans to raise as much as $2.45 billion from the listing.
Housing prices in the Emirate have surged since 2011. According to CBRE, sales prices rose by 31 percent year-on-year in the second quarter of 2014, "suggesting that demand remains strong despite the implementation of higher transaction fees. "
Authorities have doubled property transaction fees to four percent, but the International Monetary Fund still suggested in May it was time to consider "stronger measures" in order to avert a replay of the previous bubble that collapsed in 2009.
The IMF has forecast economic growth in Dubai to average 5.5 percent in 2014–19, and 8 percent in 2020, the year the city hosts the world's fair, the Exo.