November, 2020

• 16 November

  Asia’s improving earnings scorecard fails to boost stocks

  

  Bloomberg Corporate Asia is wrapping up a solid bounce-back quarter when it comes to earnings, but that’s hardly translating into stock gains for companies. With majority of the results out, companies in the MSCI Asia Pacific Index have delivered an aggregate positive earnings surprise of 7.7% so far, according to data compiled by Bloomberg. That’s versus a 23% aggregate miss ...

  Read More »
• 16 November

  Wild week in China roils tech stocks, debt markets, HK

  

  Bloomberg Chinese authorities moved on a number of fronts to rein in potential risks to the Communist Party’s rule, touching everything from tech firms to bond markets to political dissent in Hong Kong. The actions rattled markets as investors sought to grasp the rationale for the changes emanating from Beijing’s opaque corridors of power. They came shortly after the shock ...

  Read More »
• 16 November

  Stocks settle at fresh record high in India’s Diwali session

  Bloomberg Indian shares rallied to a record in the ceremonial evening session to mark Diwali, the Hindu festival of lights, as earnings of some of the country’s biggest companies bolstered optimism for a faster economic recovery. The S&P BSE Sensex and NSE Nifty 50 gauges ended higher in the one-hour session, paced by oil and gas companies. Tata Steel Ltd ...

  Read More »
• 15 November

  UAE officials discuss economic visions for next five decades

  

  DUBAI / WAM More than 1,000 ministers, and senior federal and local government officials, held 11 consultative meetings to discuss the path for the economic environment and economic models and sectors for the next 50 years. The meetings were in implementation of directives given by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of ...

  Read More »
• 15 November

  UAE non-oil trade hits AED658.3b in H1 2020

  

  Abu Dhabi / WAM The value of the UAE’s non-oil trade reached AED658.3 billion in the first half of 2020, accounting for 41 percent of the total value of the country’s trade in 2019, according to figures released by the Federal Competitiveness and Statistics Centre (FCSC) on Saturday. This signals the continued activity of the economic sectors despite the slowdown ...

  Read More »
• 15 November

  Abu Dhabi Airport trialling new ‘Smart Travel’ features

  Abu Dhabi / WAM Abu Dhabi International Airport (AUH) is trialling a new enhanced ‘Smart Travel’ system, developed by Abu Dhabi Airports in partnership with ConvergentAI and powered by Artificial Intelligence (AI) to shorten queues and streamline processes throughout the airport to deliver a smoother and more seamless passenger experience. The new system employs big data, AI, and assessment of ...

  Read More »
• 15 November

  Real estate contribution to Dubai’s GDP reaches 7.2% in 2019: DLD

  

  DUBAI / WAM Dubai’s real estate sector represents one of the main economic sectors in economic growth, and it actively contributes to the growth of its economy. Over the past years, the emirate has achieved record rates of economic growth driven by the economic initiatives and packages that the Dubai Government is undertaking to raise economic growth and stimulate various ...

  Read More »
• 15 November

  Oil pares weekly gain as Covid cases surge

  

  Bloomberg Oil declined for a second session as rising Covid-19 cases threatened to derail demand with tougher restrictions in major US cities on the horizon. Futures fell 2.4% in New York on November 13, but still posted the largest weekly gain in a month as optimism from news of a potential Covid-19 vaccine breakthrough jolted markets earlier in the week. ...

  Read More »
• 15 November

  MoF launches MNEs notification system

  

  ABU DHABI / WAM In line with its commitment to adopt the best digital solutions in government work, the Ministry of Finance (MoF) announced the launch of the ‘MNEs Notification and Reporting System’, in accordance with UAE’s Cabinet Resolution no. 44 of 2020 to organise the reports submitted by the multinational’s companies (MNEs). Younis Haji Al Khoori, Undersecretary of MoF, ...

  Read More »
• 15 November

  Hamdan bin Mohammed approves DGEP plan to resume assessment

  

  DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved the plan to resume assessments for the 2020 edition of the Dubai Government Excellence Program (DGEP). The assessments for the program, which were earlier scheduled for February and March 2020, had been postponed due to the ...

  Read More »