March, 2016

• 13 March

  Committed to Excellence

  

  ALKESH SHARMA / EMIRATES BUSINESS Offering unmatched security solutions to UAE-based enterprises, dorma+kaba is aiming to capitalise upon immeasurable business opportunities that this region offer. This Switzerland-based company, which is riding high on its recent merger, is catering to its UAE clients from its Dubai corporate office. Dorma is the trusted global partner for premium access solutions and services, and ...

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• 13 March

  Saudi downstream industry can spur diversification

  

  Emirates Business Saudi Aramco President and CEO Amin H. Nasser called for a new era of industrial diversification, anchored by specialty chemicals, and underpinned by a widespread and rapid in-Kingdom expansion of small to medium enterprises that produce high-value finished and semi-finished products in the petrochemicals conversion sector. This approach will unlock opportunities for the Kingdom’s economic diversification, job creation ...

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• 13 March

  Iran to boost oil output before agreeing to freeze

  

  Bloomberg Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market. “They should leave us alone” until then, Oil Minister Bijan Zanganeh said, according to the Iranian Students News Agency. “After that we will work with them.” Saudi Arabia, Russia, Venezuela and ...

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• 13 March

  Saudi investor gets majority stake in green energy project

  

  Emirates Business Saudi Arabia’s ACWA Power International said that it has acquired 70 per cent of Sunrise Solar Energy Psc, which is developing a 50-megawatt solar power plant in Mafraq Governorate, a statement by the Saudi company said. The value of the deal was not revealed, but experts estimate that a plant of such capacity is worth more than $200 ...

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• 13 March

  Can Thailand’s junta reverse its economic decline?

  

  Can Thailand’s military government achieve its ambitious 3.5 percent gross domestic product growth target and stave off social instability amid mounting signs of structural economic decline? As exports swoon amid a global slowdown and consumption gasps under high household debts, Thailand’s near-term growth will necessarily be state-led. Whether Prime Minister Prayut Chan-o-cha’s military administration lives up to the policy challenge ...

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• 13 March

  Terrible things that are getting less terrible

  

  Lots of Americans, especially Republican-Americans, are pretty steamed about illegal immigration. Stopping it with a big new wall at the Mexican border is one of the signature campaign promises of GOP front- runner Donald Trump. As journalists and others have pointed out, though, the number of undocumented immigrants in the U.S. appears to have peaked in 2007. To put it ...

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• 13 March

  Bangladesh vows to act against its Central Bank over cyber heist

  

  DHAKA / Bloomberg Bangladesh’s finance minister has pledged to act against its central bank for not informing him about a cyber heist in which hackers broke into a Bangladesh Bank account with the Federal Reserve Bank of New York last month. Abul Maal Abdul Muhith, the finance minister, told reporters in Dhaka on Sunday that he was going to meet ...

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• 13 March

  S&P cuts BNP on ‘tighter’ cushion

  

  PARIS / BLOOMBERG BNP Paribas SA, France’s largest bank, had its long-term credit rating cut to A from A+ by Standard & Poor’s (S&P), which cited a “less favourable” view of the lender’s capital cushion. The bank hasn’t laid out plans to issue enough securities to increase its total loss-absorbing capacity, or TLAC, to meet S&P’s preferred level by 2018, ...

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• 13 March

  Companies to step up corporate bond purchases: Citigroup

  

  Bloomberg American companies will become even bigger buyers of bonds sold by their peers as negative interest rates worldwide intensify pressure on them to deploy their $4 trillion cash pile, according to Citigroup Inc. “In their search for yield, companies are likely to increase their allocation toward 1-5 year corporate bonds rated A or higher,” said Ajay Khorana, global head ...

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• 13 March

  Poland debates end to year-long rate pause

  

  WARSAW / Bloomberg Polish Central Bank (PCB) Governor Marek Belka said rate setters are debating how to transition from their pause in monetary easing as they weigh the risk of deterioration in the global economy and potential capital inflows as a result of the euro area’s quantitative easing program. The 10-member council left the seven-day reference rate at a record-low ...

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