Bloomberg The US assassination of one of Iran’s most powerful generals has the oil industry bracing for something it has long feared and anticipated — direct military confrontation between the two adversaries. In the hours after President Donald Trump ordered the killing at Baghdad airport of Qassem Soleimani, who led Iran’s Quds force, crude oil surged, American workers began to …
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Bloomberg China’s financial regulator said it will implement a series of measures to shore up nation’s troubled smaller banks and insurers while continuing a clampdown on shadow financing, property speculation. The regulator will introduce measures to eliminate bad loans and promote mergers, capital injections and the restructuring of high risk institutions, the China Banking and Insurance Regulatory Commission said in …
Read More »ABU DHABI / WAM The UAE has condemned a decision by Turkey to send military forces to Libya in a stark violation of the international community’s and UN Security Council’s resolutions on Libya, according to Security Council Committee established pursuant to Resolution 1970 of 2011 to prevent the sale or supply of arms to Libya without its approval. Such a …
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Bloomberg Bangko Sentral ng Pilipinas estimates oil prices will have to surge and persist at $90 a barrel for it to impact the central bank’s inflation forecast, Governor Benjamin Diokno said. It’s “too early to say,†Diokno said in a text message when asked if the latest geopolitical development between the US and Iran could threaten inflation targets and impact …
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Abu Dhabi / Emirates Business Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), announced that 2020 will see further evolution in the development of the FTA’s electronic systems, as part of its efforts to provide clear and simple procedures for managing, collecting and implementing federal taxes, ensuring higher rates of customer satisfaction. Al Bustani said that …
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Bloomberg Suzlon Energy Ltd will offer to restructure debt at a steeper discount than Indian banks have been willing to consider so far, said people familiar with the matter, pushing the wind turbine maker closer towards bankruptcy. The Pune-based company proposes to swap its 113 billion rupees ($1.6 billion) of outstanding debt into 36 billion rupees of new debt, translating …
Read More »Emirates Business His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has been voted the most prominent Arab leader 2019 in a readers’ poll conducted by Russia Today TV (RT). According to the Russian state TV, 9.74 million out of total 14 million respondents chose Sheikh Mohamed …
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Bloomberg A trade deal between the US and Japan that cuts tariffs on some agricultural products and industrial goods took effect on Wednesday, with little indication the two sides would meet a pledge to soon start a new round of talks broadening the pact. Under the deal, Japan reduced tariffs on beef and additional US agricultural products to the same …
Read More »MUKALLA / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 35,144 food parcels weighing 2,840 tonnes to the residents of Hadramaut Governorate during the Year of Tolerance 2019, benefitting 175,720 people who are members of vulnerable Yemeni families. At the end of Year of Tolerance, ERC distributed 100 food parcels weighing eight tonnes, which targeted …
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Bloomberg Oil in New York capped its biggest annual increase since 2016, as Opec’s production cuts tempered supplies while a trade pact between the US and China buoyed the outlook for demand. West Texas Intermediate futures fell 1% yet climbed 34% this year as Opec and its allies cut production and a trade deal between Washington and Beijing neared. With …
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