August, 2021

• 4 August

  Top Singapore banks’ profit beats estimates

  

  Bloomberg Two of Singapore’s largest lenders will increase dividend payouts after profit in the second quarter beat forecasts driven by lower provisions for bad loans. Oversea-Chinese Banking Corp, the city state’s second biggest bank, will pay an interim dividend of 25 cents per share after reporting a 59% jump in net income to S$1.16 billion ($859 million), just ahead of ...

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• 4 August

  Banks from HSBC to Citi shrug off China risks, embrace HK

  

  Bloomberg Growing geopolitical tensions and pulled initial public offerings have done little to damp the appetite of Western banks for Hong Kong and China. Standard Chartered Plc Chief Executive Officer Bill Winters was the latest executive in recent weeks to signal a sweeping Chinese government crackdown and rising geopolitical tensions between China and the US won’t derail his lender’s focus ...

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• 4 August

  Stocks rise, futures steady as China concerns ease

  

  Bloomberg Stocks in Europe rose on Wednesday as concerns over China’s gaming and technology clampdown eased, countering lingering worries about the spread of the Covid-19 delta strain and its effect on the global recovery. Technology shares led the charge as the Stoxx Europe 600 index climbed for a third day to a fresh record. The travel and leisure sector also ...

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• 4 August

  Tech stocks fuel HK reprieve rally as China money returns

  Bloomberg The return of Chinese investors and bargain hunters in tech stocks is giving Hong Kong’s equities market a reprieve from weeks of relentless selling. The Hang Seng Index advanced 0.9% on Wednesday, led by a rebound in technology giants including Tencent Holdings Ltd, after Chinese state media moderated its criticism of the sector. BYD Co Ltd jumped 8.3% on ...

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• 4 August

  Dubai set to host major business events as Expo 2020 approaches

  

  DUBAI / WAM Dubai’s business events sector continues to build on its momentum as one of the first cities in the world to reopen for international meetings, with a busy calendar of high profile conferences, meetings and incentives on the horizon through the rest of 2021 and into 2022. Following on from the resumption of international tourism to the city ...

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• 4 August

  Adnoc, Fertiglobe sell UAE’s first blue ammonia to Japan’s Itochu

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that, in partnership with Fertiglobe, it has sold its first cargo of blue ammonia to Itochu in Japan, for use in fertiliser production. The sale builds upon recently announced joint efforts to enhance industrial cooperation between the UAE and Japan and support the development of new ...

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• 4 August

  Experts from 13 nations discuss date palm cultivation, production

  ABU DHABI / WAM The Association of Agricultural Research Institutions in the Near East and North Africa (AARINENA) has signed a cooperation agreement with Food and Agriculture Organisation of the United Nations (FAO) to establish and operate research, technology and innovation platform for an integrated production system for date palm in the Middle East and North Africa region, according to ...

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• 4 August

  Etihad Rail, Western Bainoona Group sign partnership deal

  

  ABU DHABI / WAM Etihad Rail, the developer and operator of the UAE’s National Rail Network, has signed a strategic partnership agreement with Western Bainoona Group. Etihad Rail will deliver rail freight services to the Group for their construction materials from Western Bainoona Group’s facilities in Fujairah to Abu Dhabi and Dubai. The agreement comes following the directives of HH ...

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• 4 August

  Taqa-Emirates Steel pact to enable Mena’s first green steel manufacturing

  

  ABU DHABI / WAM Abu Dhabi National Energy Company PJSC (Taqa), one of the largest listed integrated utilities in the region, announced on Tuesday a partnership with Emirates Steel, the leading integrated steel plant in the Middle East, to develop a large-scale green hydrogen project enabling the first green steel produced in the Mena region. A Memorandum of Understanding (MoU) ...

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• 4 August

  FAB partners with Al-Futtaim Ikea on home furnishing loans

  

  ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has partnered with IKEA, part of Al-Futtaim Group, to offer National Housing Loan (NHL) programme customers specialised personal loans to furnish and decorate their homes. These personal loans will offer NHL customers a range of benefits, including ...

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