Bloomberg Europe’s economy risks losing out on a massive dose of stimulus from its consumers. Households have stashed away hundreds of billions of euros in their bank accounts under lockdown. And even though shops in many countries have reopened, surveys show little sign that people are ready to splurge just yet amid spiralling unemployment and the threat of a second ...
Read More »Bloomberg Assicurazioni Generali SpA is exploring strategic options for its Swiss insurance operations, according to people familiar with the matter. The Italian company is working with advisers to study alternatives including a potential sale of part or all of the business, the people said, asking not to be identified because the information is private. Generali Switzerland makes about 194 million ...
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Abu Dhabi / WAM The world’s leading oil, gas, and petrochemical CEOs will join a virtual roundtable hosted by Abu Dhabi National Oil Company (Adnoc) on June 16, to discuss critical issues facing the industry and share best practices on effective response to Covid-19, as oil markets continue to rebalance amid encouraging signs of economic revival. Adnoc convened this special ...
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Dubai / WAM Dubai Islamic Bank (DIB) has successfully closed a $1 billion long five-year sukuk with a profit rate of 2.95 percent per annum, which is equivalent to 245 basis points (bps) over the equivalent tenor Mid Swap Rate. In a statement by the bank on Wednesday, DIB’s $1 billion Sukuk is a landmark transaction as it is the ...
Read More »Abu Dhabi / WAM Outward personal remittances during Q1 increased by 7.8% or AED3 billion from AED38.4 billion to AED 41.4 billion compared to same period of 2019, according to official figures released by UAE central bank on Wednesday. “The outward personal remittances that were settled via banks rise by 16.9% or AED1.4 billion. Outward personal remittances that were settled ...
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Bloomberg The head of the International Monetary Fund (IMF) called on private creditors to join the Group of 20 in providing debt relief for the world’s poorest nations, saying that the alternative to suspension and restructuring is defaults. A debt-service suspension would provide time for restructuring debt on a case-by-case basis in nations where debt sustainability needs to be restored, ...
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Abu Dhabi / WAM Means to advance cooperation opportunities between the Abu Dhabi Fund for Development (ADFD) and Colombia were discussed over a virtual meeting. Mohammed Saif Al Suwaidi, Director General of ADFD held a video conference with Marta Lucia Ramirez, Vice President of Colombia, where both parties focused discussions on relations between the UAE and Colombia and ways to ...
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ABU DHABI / WAM The central bank of the UAE (CBUAE) has projected the recovery of economic activity to commence in the second half of the year. The first quarter economic activities witnessed mixed movements, with the UAE economy performing well during the first two months of 2020. The bank affirmed — in the Quarterly Economic Review 2020 published on ...
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ABU DHABI / WAM Inspired by the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and as per the directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy ...
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ABU DHABI / WAM Etihad Engineering, the Maintenance, Repair and Overhaul (MRO) arm of Etihad Aviation Group, has been expanding its operations in aircraft maintenance and parking, to meet the new requirements of airline operators as fleets have been grounded due to the Covid-19 pandemic. In a statement on Wednesday, Etihad Engineering said, “The MRO provider continues to adapt to ...
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