July, 2017

• 24 July

  How to win online war against IS

  On the ground in Iraq and Syria, IS is on the brink of military defeat. Online, however, the group continues to incite its followers to violence, and victory there will take the same kind of sustained effort that anti-terrorist forces brought to the battlefield. The foremost challenge is to identify individuals susceptible to the terrorists’ messages and intervene before they’re …

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• 24 July

  Trump learns how durable Obama’s policies are…

  

  Donald Trump may not like it, but he can’t—so far— reverse two of Barack Obama’s signature accomplishments: the Affordable Care Act (ACA) and the Iran nuclear deal. In one emblematic, frustrating day, Trump both saw the failure of the Senate Bill to repeal and replace the ACA and was forced by his advisers to certify that Iran is in compliance …

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• 24 July

  Bond investors seeing taper party this time for India, Indonesia

  

  As local-currency bonds in Indonesia joined the recent global debt selloff, Aberdeen Asset Management Plc and Western Asset Management Co. had a simple strategy: buy more. The money managers see the nation’s securities, along with India’s, as the best bets to weather any selloff in emerging Asia as the European Central Bank prepares to join the Federal Reserve in paring …

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• 24 July

  48 years on, the battle for the moon begins

  

  On the 48th anniversary of Neil Armstrong setting foot on the moon, an Illinois attorney hopes to pocket as much as $4 million at a Sotheby’s auction of a bag that Apollo 11 astronauts filled with rocks. The bag’s history is as interesting as its travels: the US government accidentally sold it in 2015, then fought the buyer, Nancy Lee …

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• 24 July

  Euro heads for decline as carmakers weigh on stocks

  

  Bloomberg The euro headed for its first decline in three days as data showed the region’s economy cooling at the start of a week packed with corporate results and a Federal Reserve rate decision. Stocks were dragged down for a second day by carmakers amid a collusion probe. The common currency halted the advance that saw it hit a two-year …

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• 24 July

  Banks push Qatar higher, Mobily’s loss dampens Saudi

  

  Reuters Banks pushed Qatar’s stock market higher on Monday while Saudi Arabia’s market edged down as telecommunications firm Mobily plunged in the wake of a bigger-than-expected quarterly loss. The Qatari index added 0.8 percent to 9,579 points, outperforming the rest of the region and closing at its highest level since June 5, when a diplomatic crisis with neighbouring Arab states …

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• 23 July

  Foreign currency supply at UAE Central Bank surges to AED338.34bn in June

  ABU DHABI / WAM The total foreign currency supply at the UAE Central Bank surged to AED338.34 billion by the end of June, a growth of AED47.6 billion from early 2017, according to statistics recently issued by the bank. A month-on-month review indicated that the total supply increased by AED15.93 billion in June from AED322.41 billion in May. The bank …

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• 23 July

  Abu Dhabi Fund provides AED4bn for Egypt’s 64 development projects

  

  ABU DHABI / WAM A total of AED4 billion worth of grants and concessionary loans has been provided by Abu Dhabi Fund for Development (ADFD), to Egypt spanning across 64 development projects. ADFD and the Government of Egypt have long enjoyed close and strategic ties. The constructive cooperation between the two parties continues to promote sustainable development in vital economic sectors …

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• 23 July

  ADIB Q2 net profit up 8.7% to AED551.6mn

  

  ABU DHABI / Agencies Abu Dhabi Islamic Bank (ADIB) on Sunday posted an 8.7 percent rise in second quarter profit, above analysts’ expectations. Higher fee income boosted second-quarter revenues by 3.9 percent, the bank said in a statement. The emirate’s largest sharia-compliant bank made a net profit of AED551.6 million ($150.3 million) in the three months ending June 30, compared …

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• 23 July

  Baron Point inks deal with PV Oil for $150mn project

  

  Abu Dhabi / Emirates Business Abu Dhabi-based Baron Point Petroleum Services Company L.L.C. (“Baron Point Petroleum”) has joined hands and engaged a joint-venture (“JV”) with PetroVietnam Oil Corporation (“PV Oil”), the national oil and gas company of Vietnam, to finance, build and operate petroleum product pipelines and storage space in Vietnam, and to source and trade petroleum products in the …

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