Bloomberg The Federal Reserve is about to decide whether to extend a ban on banks buying back their own stock. It may shape up to be pivotal for year-end funding risks. If the Fed keeps its ban on buybacks in the decision due by end of September, banks will be stuck holding capital until next year and will “flood” the ...

Bloomberg Indian bond traders’ worst fears may be realised this week if Prime Minister Narendra Modi’s government announces a further increase to its mammoth borrowing plan. Traders expect the government to lift its borrowing estimate for the October-March period to six trillion rupees ($81.5 billion) from the existing 5 trillion rupees, according to 10 out of 16 traders in a ...

Bloomberg European stocks rallied the most in two weeks, led by bank shares, on optimism that the recent selloff is overdone. The pound strengthened on hopes that UK and European Union officials will be able to make progress as a key week of Brexit talks begins. Asian equities and US futures gained, while oil dropped below $40 a barrel in ...

Abu Dhabi / WAM Adnoc Logistics and Services, Adnoc L&S, the shipping and maritime logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc) announced on Sunday that it has signed a new 25-year agreement to provide critical marine services across all petroleum ports in Abu Dhabi on behalf of the Petroleum Ports Authority (PPA). This includes the onshore Jebel ...

Abu Dhabi / WAM Abu Dhabi Ports, part of ADQ – one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, on Sunday announced another step in its drive to enhance the emirate’s rank as an international hub for trade and logistics with the acquisition of Micco Logistics. ...

Abu Dhabi / WAM The Zayed Higher Organisation for People of Determination (ZHO) announced the creation of its WhatsApp Business application as part of its continuous journey towards a diversified portfolio of communication channels to best serve people of determination and their families. The new service is the latest measure to be implemented as part of the continuous development plans ...

Dubai / WAM Exports of Dubai Chamber members exceeded a combined value of AED45 billion between June and August this year, marking a 7.4 percent increase compared to the March-May period. Over 151,000 Certificates of Origin were issued by Dubai Chamber from June-August, an 11.7% increase from the 135,00 certificates issued during the March-May period. The average number of exporters ...

Bloomberg Saudi Arabia is preparing for a quick rebound in tourism and hasn’t revised its visitor targets for 2021 despite the coronavirus pandemic, Tourism Minister Ahmed Al-Khateeb said. “If countries today open their borders, we will be fit to run fast, and this is the plan,” said Al-Khateeb, a key adviser to Crown Prince Mohammed bin Salman. “We believe people ...

DUBAI / WAM Teams from Dubai Sports Council and Dubai Economy fined six sports establishments over the weekend for their failure to adhere to Covid-19 precautionary measures and safety guidelines. The establishments were fined for their failure to maintain the mandatory safe distance at the premises as well as non-compliance with the face mask rule. Ten other establishments escaped with ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) has invested in state-of-the-art technologies and established an advanced digital infrastructure to provide its customers with a range of electronic and smart services, including official document attestation. The ministry said customers can apply for attestations via the ministry’s website www.mofaic.gov.ae or the UAEMOFAIC smartphone application. “All service ...