October, 2018

• 6 October

  Saudi crown prince says Aramco IPO by 2021

  

  Bloomberg Saudi Arabia’s crown prince insisted the plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering (IPO) by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more. “I believe late 2020, early 2021,” he said, discussing the timing of the IPO in an interview at the …

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• 6 October

  $2.4trn worth of projects in GCC’s pipeline offer vast opportunities

  

  Dubai / Emirates Business With an estimated $2.4 trillion of projects planned across the GCC, the region still offers abundant opportunities as governments seek to develop infrastructure to meet the needs of rapidly expanding populations, and to deliver economic diversification. The region offers some of the best project opportunities in the world. The need for infrastructure and economic diversification is …

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• 6 October

  China’s funding for coal draws scrutiny as climate concern grows

  

  Bloomberg China’s leading role in financing a wave of new coal plants across Asia is drawing fresh scrutiny as the world’s top climate scientists weigh calling for much deeper cuts in emissions. China, India, Japan and the Philippines rank among the biggest investors in the 1,380 coal plants under construction or development worldwide, according to a study by the German …

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• 6 October

  China puts brakes on US crude oil imports

  

  Bloomberg Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances. The world’s second largest economy halted purchases of US crude in August for the first time since September 2016, according to US Census Bureau data. In July, Chinese buyers received nearly 12 million barrels of crude from the US. Beijing, once an enthusiastic buyer …

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• 6 October

  Electrify America plans $200mn for clean cars

  

  Bloomberg Electrify America, created by Volkswagen AG as part of a settlement from the automaker’s emissions-cheating scandal, filed plans with California regulators to invest a second $200 million in electric car charging infrastructure. The investments will include deploying fast-charging stations in cities including Santa Cruz, Los Angeles and San Francisco, according to a statement Wednesday. Part of the money will …

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• 6 October

  Who’s winning the self-driving car race?

  

  Bloomberg In the race to start the world’s first driving business without human drivers, everyone is chasing Alphabet Inc.’s Waymo. The Google sibling has cleared the way to beat its nearest rivals, General Motors Co. and a couple of other players, by at least a year to introduce driverless cars to the public. A deal reached in January to buy …

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• 6 October

  Dell unveils new updates to XPS, Inspiron

  

  DUBAI / Emirates Business Dell unveiled new updates to its award winning XPS family and Inspiron 2-in-1 portfolio, GITEX Shopper Autumn 2018 — the largest consumer technology event in the Middle East — continuing its commitment to thoughtful design and innovation. In line with this, Dell also showcased its newly released Vostro 5471 focussed on providing productivity and security features …

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• 6 October

  Linksys launches new cloud manager for SMB networks

  

  DUBAI / Emirates Business Linksys, celebrating thirty years of networking and WiFi innovation for the home and business, announced Middle East regional launch of Linksys Cloud Manager, a cloud-hosted WiFi Management Platform purpose-built for small business environments that reduces costs and increases operational efficiencies, in the United Arab Emirates. The solution offers centralized visibility, mana- gement and control of a …

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• 6 October

  After stock rout, Greece weighs bank bad-loan plan

  

  Bloomberg Greece is weighing a plan to help banks speed up their bad-loan disposals, possibly including a government guarantee, in a bid to restore confidence in the battered sector, people familiar with the matter said. While the details are still being worked out, the proposal would see lenders unload some bad loans into special purpose vehicles, taking them off banks’ …

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• 6 October

  Germany’s bankers brace for more cuts

  

  Bloomberg After lenders in Germany have already slashed about 188,000 jobs since the year 2000, many employees are now increasingly seeing digitalisation as the next big threat to employment. In the country’s private banking industry alone, around 40 percent of employees believe that digitalisation will worsen long-term job security over the next two years, according to a study by the …

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