July, 2019

• 28 July

  Mexico settles dispute on airport terminal

  Bloomberg Mexico City’s airport authority settled a dispute with builders on an 85 billion peso ($4.45 billion) contract for the terminal at a new Mexico City airport that President Andres Manuel Lopez Obrador canceled a month before taking office. Grupo Aeroportuario Ciudad de la Mexico will pay 14.2 billion pesos, equivalent to 16.7 percent of the contract’s total cost, to ...

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• 27 July

  UAE grants $50m for Palestinians

  

  ABU DHABI / WAM The UAE on Saturday announced a $50 million donation to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), as part of its commitment to supporting the Palestinian people. With this donation, UNRWA will provide health services to Palestinian refugees —mothers and children — implement educational programmes to ensure the ...

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• 27 July

  Trump presses WTO to drop China’s ‘developing nation’ tag

  

  Bloomberg US President Donald Trump opened another chapter in the trade war with China, ordering his top trade negotiator to pressure the World Trade Organization (WTO) to crack down on countries the US doesn’t think should be allowed to declare themselves developing nations. Trump singled out China in a memo to US Trade Representative Robert Ligh- thizer, saying that “the ...

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• 27 July

  Oil rises as supply risks outweigh demand woes

  

  Bloomberg Oil finished higher for the week after a volatile trading session that pitted gnawing doubts about global demand against supply threats from the Middle East and beyond. Futures gained 0.3 percent in New York and ended the week up 1 percent, reversing from last week’s steep loss. Oil turned higher after Mexico’s state-run oil company said crude output fell ...

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• 27 July

  FANR issues 1088 licences for N-sector

  ABU DHABI / WAM As of December 2018, a total of 1,088 licences have been issued for the nuclear sector in the UAE, according to Federal Authority for Nuclear Regulation’s 2018 Annual Report. Official statistics showed that as of December 2018, FANR issued 483 new licences, 459 licence renewals, and 146 licence amendments to conduct activities using radiation sources in ...

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• 27 July

  Total’s Q2 profit drops as lower gas prices offset rising output

  

  Bloomberg Total SA’s second-quarter profit fell short of estimates as the price of natural gas and oil dropped, while record hydrocarbon production and continued cost cuts boosted cash flow. Adjusted net income was almost a fifth lower than a year earlier, but cash flow rose and the French giant went ahead with a planned share buyback. While trade tensions and ...

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• 27 July

  ‘Shale drilling’s worst yet to come’

  Bloomberg America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon. Three months ago, when Helmerich had 220 of its rigs hired out, CEO John Lindsay told investors second quarter would be nadir for his fleet. But after the number of Helmerich rigs ...

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• 27 July

  Bank of Russia slashes key rate, signals more easing

  

  Bloomberg The Bank of Russia reduced interest rates for a second time this year and signalled more cuts to come, as inflation and economic growth slow. The key rate was cut to 7.25 percent from 7.50 percent, according to a statement. The move was forecast by all but one of the 40 economists polled in a Bloomberg survey, with the ...

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• 27 July

  Berkshire’s stake in BofA climbs past 10%

  

  Bloomberg Berkshire Hathaway’s stake in Bank of America (BofA) crept above 10 percent, crossing a threshold that’s caused the conglomerate headaches in the past, as the bank bought back its own stock. Berkshire said in a regulatory filing that it owned 950 million shares in the lender, a holding that put it above a 10 percent ownership stake. The total ...

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• 27 July

  Deutsche shares gain as ECB weighs ‘rate impact’

  Bloomberg A day after the first doubts emerged about Deutsche Bank’s fresh turnaround plan, the European Central Bank (ECB) stepped in to allay at least some of them. The ECB said it will study options to mitigate the punitive effect of negative interest rates on euro area banks, pushing Deutsche Bank’s stock to the highest in almost three months. The ...

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