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April 30, 2017 Banking
Bloomberg As Nordea Bank AB tells Sweden it will move its headquarters from the largest Nordic economy unless the regulatory environment is relaxed, Finland and Denmark are stepping up their charm offensives. Danish Business Minister Brian Mikkelsen made clear he wants Nordea based in his country, and underscored his commitment to a stable regulatory environment in which banks and ...
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April 30, 2017 Banking
Emirates Business Arab Bank Group announced its results for the first quarter of 2017 reporting a net profit after tax of $218.2 million as compared to $218.3 million. Net operating income before provisions and taxes reached $290 million driven by growth in the underlying core banking revenue. Excluding the effect of foreign currency devaluations, the Bank’s net operating income ...
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April 29, 2017 Local News
DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has endorsed the project to improve the Latifa Bint Hamdan Street and the Junction of Umm Al-Sheef-Latifa Bint Hamdan Streets at cost AED800 million. The project links Jumeirah district with Al Khail Road and the Parallel Roads ...
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April 29, 2017 Local News
DUBAI / WAM Dubai International Financial Centre (DIFC) signed an MoU with Mumbai Metropolitan Region Developmental Authority (MMRDA), an urban town planning and development authority established by Government of the State of Maharashtra. The City of Mumbai endeavours to set up its own international financial centre, in order to position it as the financial capital of India. In support ...
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April 29, 2017 News
Bloomberg The United Arab Emirates is cutting back supplies to customers in June as part of its agreement with OPEC to curb production. Abu Dhabi National Oil Co. will reduce sales by 10 percent, a company spokesman said on Saturday by phone. The state-owned producer, known as Adnoc, cut supplies for May by 7 percent. The UAE, the fourth-biggest ...
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April 29, 2017 Opinion
Let’s be clear: America is an undertaxed society. Our wants and needs from government — the two blur — exceed our willingness to be taxed. This has been true for decades, but it’s especially relevant now because the number of older Americans, who are the largest beneficiaries of federal spending, is rising rapidly. Unless we’re prepared to make sizable ...
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April 29, 2017 Opinion
A third strongman has managed to do what the two before him couldn’t: Sever the link between the stock markets of China and India. The correlation between the CSI 300 and the Nifty 50 indexes survived Xi Jinping’s ascent to power in 2012 and Narendra Modi’s election in 2014. Donald Trump, however, has succeeded in driving through a wedge. ...
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April 29, 2017 Opinion
Smokestacks and tailpipes may be the biggest and most obvious sources of greenhouse gases, but they’re not the only ones to worry about. An invisible, underappreciated one is right in America’s front yards: leaking pipes that carry natural gas into people’s homes. The good news is that scientists have devised a clever way to find these leaks, by attaching ...
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April 29, 2017 Opinion
The leaders of the 10-member Association of Southeast Asian Nations (ASEAN) met in Manila, where Philippines President Rodrigo Duterte stressed over the non-interference in one-another’s internal affairs. He said that the principles of the regional block are based on international law, mutual respect for independence, sovereignty, equality, territorial integrity and national identity of all nations. Duterte urged his fellow ...
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April 29, 2017 Local News, Uncategorized
Abu Dhabi / Emirates Business Abu Dhabi benefited from increased industrial investments over the past years as a result of efforts to achieve economic diversification, a strategic objective of the Abu Dhabi Plan and the emirate’s economic vision, with integral facilities and world class logistical and organizational capacities provided. Seeking to support the industrial sector, the Emirate of Abu ...
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