February, 2016

• 17 February

  UAE MoE hosts WTO Trade Policy Review delegation

  

  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. ...

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• 17 February

  UAE’s Al Hilal Bank wins 2 awards

  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 ...

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• 17 February

  ADX introduces technical improvements on CBS

  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 ...

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• 17 February

  Dubai January inflation falls to 1.9 percent

  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 ...

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• 17 February

  2015 an year of achievements, progress for DIFC

  

  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 ...

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• 17 February

  Fed frets corporate credit crunch will crimp growth

  

  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 ...

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• 17 February

  Canadian Liberals back away from balanced-budget vow

  

  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 ...

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• 17 February

  Brazil probe corners Rousseff allies

  

  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 ...

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• 17 February

  Argentina reaches deal to settle eurobond claims

  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 ...

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• 17 February

  Dailies wither in Canada with no billionaires to save them

  

  Ottawa / Bloomberg It’s been a dismal start to the year for Canada’s newspapers, and investors see little sign of a turnaround. Postmedia Network Canada Corp., owner of many of the country’s newspapers, announced in January it was merging newsrooms in cities where it has two papers, eliminating dozens of jobs. Torstar Corp., publisher of the country’s largest circulation paper, ...

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