August, 2021

• 16 August

  US yields set to tighten grip on emerging-market currencies

  

  Bloomberg Slowing economic recovery amid a resurgent pandemic is leaving emerging-market currencies vulnerable to a selloff if Treasury yields rise again. While the influence of US borrowing costs on developing-nation currencies has waned in recent months, it may return to prominence for riskier assets as the cushioning effects from China’s growth rebound and low inflation weaken, according to money managers ...

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• 16 August

  Expiring lockups will put $6 billion of Hong Kong shares at risk

  

  Bloomberg The recent slump in video streaming giant Kuaishou Technology’s shares has awoken investors to the risk of expiring lockups for Hong Kong’s newly-listed stocks. More than $6 billion worth of cornerstone investment lockups are due to expire within the next five months for this year’s IPOs, according to Bloomberg calculation based on stock exchange filings. The companies that face ...

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• 16 August

  UAE a world leader in attracting foreign capital: Klaus Genssler

  

  UMM AL QAIWAIN / WAM The UAE has built a wide reputation as a leading regional hub for local and foreign investment through its futuristic and transparent vision that continues to enable its drive towards achieving growth and economic diversification. In an exclusive interview with the Emirates News Agency (WAM), German investor and businessman Klaus Genssler, Founder, Chairman and CEO ...

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• 16 August

  India aims to spend $1.4tr building infrastructure

  

  Bloomberg India aims to invest 100 trillion rupees ($1.35 trillion) in infrastructure to boost economic growth and create jobs, Prime Minister Narendra Modi said on Sunday, laying out national priorities on the country’s 75th Independence Day. The investments will be made in India’s logistics sector to help integrate the country’s varied modes of transport, Modi said in a national address ...

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• 16 August

  Abu Dhabi to host first Global Media Congress next year

  ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, said the UAE is a “global host and an efficient platform for the entire media sector because of its integrated digital infrastructure.” Sheikh Mansour announced launch of the first edition of Global Media Congress, to be held in Abu Dhabi from ...

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• 16 August

  Emirates wins triple gold for its transport safety

  

  DUBAI / WAM Emirates, renowned for its world-leading air transport services, has also been recognised for its outstanding ground transport services with three gold citations from the RoSPA Health & Safety Awards. The only airline to have received an award two years in a row, the Emirates team took gold awards in three categories: Fleet Safety Award, Health & Safety ...

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• 16 August

  MBZUAI appoints its new Provost

  ABU DHABI / WAM The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), a graduate-level and research university focused on Artificial Intelligence (AI), has announced Professor Fakhreddine (Fakhri) Karray as its new Provost. Professor Karray will work closely with Professor Eric Xing, President of MBZUAI, to develop the institution’s academic and research strategy and implementation plans towards accomplishing the university’s ...

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• 16 August

  Adnoc’s unit, Roll Group partner for heavy haulage solutions

  

  Abu Dhabi / Emirates Business Adnoc Logistics & Services (Adnoc L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc), announced on Sunday its strategic partnership with Netherlands-headquartered Roll Group to strengthen its turnkey integrated logistics offering. The partnership with Roll Group enables Adnoc L&S to jointly implement heavy haulage solutions for both onshore and ...

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• 16 August

  Amanat reports high profitability of AED235.3m in first half of 2021

  

  DUBAI / WAM Amanat Holdings, a healthcare and education investment company, has reported a total income of AED255.6 million, a significant nine-fold increase from the AED28.2 million in H1-2020, according to the company’s financial results for the first half ended on June 30, 2021. The income from investments similarly grew at a stellar pace to AED251.9 million versus AED21.3 million ...

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• 16 August

  Sharjah Islamic Bank launches new digital account

  SHARJAH / WAM Sharjah Islamic Bank (SIB) has announced the launch of its new SIB Digital account, which allows customers to open an electronic account instantly and easily using the smart bank application, and without the need to visit the branch. Waleed Al Amoudi, Head of Digital Banking at Sharjah Islamic Bank, said, “The launch of the new digital account ...

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