September, 2018

• 10 September

  Yahsat, Hughes JV to deliver satellite broadband services

  Paris / WAM Yahsat, a leading global satellite operator based in the UAE and wholly owned by Mubadala Investment Company, and Hughes Network Systems (Hughes), a subsidiary of EchoStar Corporation, on Monday announced an agreement to enter into a joint venture to provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia. This new venture combines …

  Read More »
• 10 September

  Rupee tumbles to new record

  

  Bloomberg The Indian rupee and bonds sunk after the current-account deficit widened to the most in five years, as an emerging-market rout raises investor scrutiny of countries with worsening balance of payments. The rupee slid as much as 1.3 percent on Monday to a new low of 72.6738, leading losses among Asia’s emerging-market currencies. Sustained weakening has prompted authorities to …

  Read More »
• 10 September

  Dubai summit targets huge India investments

  Dubai / Emirates Business Indian economy, which registered 8.2 percent growth in the first quarter of 2018-19 fiscal year – the highest in recent history – is expected to attract large-scale investment from the GCC to India, following the recent announcement of the development of a $44 billion oil refinery to be built by Abu Dhabi National Oil Company (Adnoc), …

  Read More »
• 10 September

  US stocks pare gains as Trump pressures Apple

  

  Bloomberg Stocks pared earlier gains as shares of Apple and Asia-based suppliers slumped after President Donald Trump insisted his trade war with China will spur more manufacturing jobs in the US. The S&P 500 opened higher, breaking a four-day slide, before pulling back from the day’s highs. The Stoxx Europe 600 Index fluctuated in early trading before finding its feet …

  Read More »
• 10 September

  Pound surges after Barnier says Brexit deal within 8 weeks

  

  Bloomberg The pound rallied and gilts fell after the European Union’s chief negotiator Michel Barnier said it’s “realistic” to get a Brexit deal within eight weeks. Sterling jumped as much as one percent as Barnier said an agreement is possible by the start of November, though several issues were still outstanding in the talks. That includes measures to prevent the …

  Read More »
• 10 September

  Goldman model hints at pain for EM currencies

  Bloomberg Goldman Sachs Group Inc. models are signaling that some developing-nation currencies have further to fall, even after a slide unprecedented since the financial crisis. While this year’s sell-off has pushed emerging-market exchange rates into undervalued territory by at least one measure, they are not yet as cheap as in early 2016, analysts at the investment bank including Mark Ozerov …

  Read More »
• 10 September

  Solar farms without subsidy sprout from Britain to Italy

  

  Bloomberg Next to a wheat field north of London, banks of solar panels in 35 neat rows are generating electricity without any support from the government. Despite Britain’s reputation for grey skies, the closely-held developer Anesco Ltd. is building the hybrid solar and battery facility in Milton Keynes with its own capital. It’s just one of about 15 photovoltaic projects …

  Read More »
• 10 September

  AMLO targets $3.9bn in new oil investment to boost production

  

  Bloomberg Mexico’s next president Andres Manuel Lopez Obrador will allocate $3.9 billion in the budget next year to oil extraction in a bid to resuscitate flagging output. “We are going to allocate budget resources, we are going to make an effort to adjust current spending in order to have more public spending and from the private sector,” said Lopez Obrador, …

  Read More »
• 10 September

  Exxon moves ahead on China projects as trade tensions simmer

  Bloomberg Exxon Mobil Corp., the US energy behemoth, signed deals to move ahead on a proposed multibillion-dollar petrochemical project and a gas import terminal in southern China, contrasting with trade tensions between the two nations that may escalate this week. The Irving, Texas-based company signed cooperation framework agreements with the Guangdong provincial government, it said in a statement, following a …

  Read More »
• 10 September

  Malaysia scraps $3bn China pipeline plans

  Bloomberg Malaysia has finally scrapped three China-backed pipeline projects after halting work on them following the shock elections in May that saw an opposition alliance assuming power for the first time in the country. A finance ministry spokeswoman confirmed that the country has cancelled three China-backed pipeline projects. The Financial Times earlier cited Malaysian Finance Minister Lim Guan Eng saying …

  Read More »