News

ABU DHABI / WAM Memorandum of Understanding, (MoU) with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) which puts in place a formal mechanism to enable the regulatory authorities to co-operate on supervisory matters and exchange of information to maintain the stability and well-being of the financial systems in each respective capital market. John Harris, Director-General ...

ABU DHABI / WAM The UAE Ministry of Economy is currently holding a series of meetings with a visiting delegation from the World Trade Organisation’s Trade Policy Review Unit. The meetings form part of the preparatory process for WTO’s third review of the UAE’s trade policy that will take place at the Geneva headquarters from June 1 – 3, 2016. ...

ABU DHABI / WAM Al Hilal Bank won the 10th Middle East Smart Government and City Customer Care Excellence Award, presented by the Middle East Excellence Awards Institute. The award was conferred to the organizations that displayed outstanding achievements in customer care, supporting the excellence-driven efforts and improving the smart government system. Mariam Ahli, Head of Corporate Communication at Al ...

ABU DHABI / WAM In a drive to enhance its status on the local and regional level, the Abu Dhabi Securities Exchange (ADX) will introduce a developed version of the Circuit Breaker System (CBS) starting from Thursday. The improvements on the Circuit Breaker System based on the new method, offer many positive features such as the existence of two levels ...

DUBAI / WAM Dubai’s inflation rate fell 0.34 percent to 1.9 percent in January, compared to December last year, driven by a drop in transport costs, according to new figures released by the Dubai Statistics Centre. The January inflation rate of the Consumer Price Index (CPI) for the emirate showed that transport cost inflation fell 2.66 percent. Housing and utility ...

Dubai / EMIRATES BUSINESS Dubai International Financial Centre (DIFC), the global financial services hub connecting businesses and financial institutions with emerging markets across the Middle East, Africa & South Asia (MEASA), achieved another record year in 2015, was announced on Wednesday. The number of new company registrations at DIFC increased by more than a quarter (27%) compared with 2014, from 242 ...

WASHINGTON / Bloomberg Federal Reserve policy makers are beginning to worry that a corporate-credit squeeze will constrict the economic expansion. With banks tightening standards on business loans and investors demanding higher yields on some corporate debt, companies may find it harder and more expensive to raise the money they need to grow. The concern is that could prompt them to ...

Ottawa / Bloomberg Finance Minister Bill Morneau said economic conditions will make it difficult for the new Liberal government to meet a campaign pledge to balance the budget by the end of its mandate. Morneau, speaking to reporters in Ottawa, said the government’s main objective is to bolster growth in the economy while seeking to balance the budget in the ...

Rio De Janeiro / Bloomberg Dilma Rousseff’s supporters are almost cheerful, missing no opportunity to proclaim that the political crisis that shook Brazil in 2015 and led to impeachment proceedings against the president has lost momentum. In private, they are worried. Their main concern is that an almost two-year probe into a scheme of kickbacks in return for political favors ...

New York / AFP Argentina has reached a deal to settle with a group of holders of eurobonds it defaulted on 15 years ago, a US court mediator in its debt battle said. Mediator Daniel Pollack announced that the country reached a deal in principle with the “Brecher Class” of “holdout” creditors, to repay them 100 percent of the principal ...