February, 2019

• 5 February

  China’s PBOC sets up bureau to improve financial oversight

  

  Bloomberg The People’s Bank of China (PBOC) has set up a department to oversee and eliminate financial risks, as part of its restructuring of departments and personnel. The PBOC established the macro-prudential management bureau to draft rules, monitor and handle financial systemic risks, and to advise on currency issues including yuan convertibility, according to a statement published by the State …

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• 5 February

  Trump, Powell met to discuss economic outlook: Fed

  

  Bloomberg Federal Reserve Chairman Jerome Powell met President Donald Trump at the White House for dinner to discuss the economy’s performance and outlook, but the central bank said its chief did not share his expectations for monetary policy. Powell’s comments were “consistent with his remarks at his press conference of last week,” the Fed said in a statement. “He did …

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• 5 February

  Cash-rich Ghana banks boost loan growth

  

  Bloomberg A regulatory spring-clean that’s cut the number of Ghanaian banks by almost a third is strengthening the industry, brightening prospects for lending growth and easing the pain of unpaid debts. The expanding economy is also helping lenders put behind them years of challenges weighing on the West African nation — including daily power outages, poor banking regulation and an …

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• 5 February

  Investment vulnerable to global uncertainty: ECB

  Bloomberg Weaker global growth and trade protectionism could start to gnaw on company investment in the euro area, according to the European Central Bank (ECB). “Increasing uncertainties at the global level constitute a downside risk to the outlook, particularly for business investment,” according to an article to be published in the ECB’s bulletin. Malin Andersson and Benjamin Mosk argue there’s …

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• 4 February

  UAE M&A deal value hits $10.4bn in 2018

  

  Dubai / Emirates Business Mergermarket, the leading provider of mergers and acquisitions (M&A) data and intelligence, has released research showing that in 2018 the Mena region experienced a significant spike in deal value, reaching $26.76 billion, compared with $15.86 billion in 2017 — an increase of 68.7%. The significant growth in deal value was driven by increased deal-making in the …

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• 4 February

  Non-oil private sector in UAE records growth

  

  Dubai / Emirates Business Emirates NBD Purchasing Managers’ Index (PMI) released January data for the UAE non-oil private sector. The survey, compiled by IHS Markit, contains original data collected from a monthly survey of business conditions in the industry. Khatija Haque, Head of Mena Research at Emirates NBD, said: “The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE rebounded …

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• 4 February

  Oil near 2-month high as supply glut concerns ease

  

  Bloomberg Oil held gains near a two-month high after data showed US production growth slowing at a time when Opec cuts and American sanctions on Venezuela have already eased concerns over a supply glut. Futures in New York rose as much 0.9 percent to reach the highest intraday level since November 21, after adding 2.7 percent. Opec’s crude output fell …

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• 4 February

  Japan imported 22.8mn barrels of UAE oil in Dec

  TOKYO / WAM Japan imported from the United Arab Emirates 22.778 million barrels of crude oil in December 2018, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 24.5% of Japan’s total crude imports, the agency that belong to the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 39.437 million barrels, …

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• 4 February

  Tech leads US stocks higher

  

  Bloomberg US stocks rose for a fourth day, with technology shares leading the advance as investors awaited fresh catalysts after digesting solid American economic data and inconclusive trade talks in Washington. The S&P 500 overcame morning weakness to push higher, while Nvidia, Adobe, Microsoft and Apple led the Nasdaq indexes to solid advances. Alphabet reports earnings after the closing bell. …

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• 4 February

  India’s sensex climbs to four-month high

  

  Bloomberg India’s benchmark equity index rose to its highest level since September in a late surge helped by gains in a handful of large-cap stocks, as investors digested the the government’s last federal budget before the national ballot. The S&P BSE Sensex rose 0.3 percent to 36,582.74 in Mumbai after falling as much as 0.7 percent in early trade. The …

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