September, 2017

• 12 September

  Dubai breaks Guinness record for largest continuous concrete pour

  

  Dubai / WAM Guinness World Records has officially announced that it recorded the ‘largest continuous concrete pour in the world’ in Dubai with a concrete volume of 21,580 cubic metres for a residential commercial building in Jebel Ali. With this feat, Dubai has retained its own record which it broke last year in Al Barsha South. Observers from Guinness World …

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• 12 September

  ‘Dubai Expert’ to train travel agents

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism), launched its “Dubai Expert” online training initiative for travel agents in 12 languages and 40 countries, taking this innovative game to a wider travel trade audience internationally, as part of efforts to highlight the multiple experiences that await visitors to Dubai across leisure, shopping, cuisine, culture, family …

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• 12 September

  DMCA highlights achievements of Dubai maritime sector in UK

  Dubai / Emirates Business The Dubai Maritime City Authority (DMCA) showcased the pioneering steps Dubai has taken on the path of international leadership, supported by an advanced position among the top five most competitive and attractive maritime clusters in the world, at the 2017 edition of the Annual International Shipowning and Shipmanagement Summit held on the sidelines of London International …

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• 12 September

  UC Forward Marketing to promote DLD’s real estate projects to Chinese investors

  

  Dubai / Emirates Business Dubai Land Department (DLD) appointed UC Forward Marketing as its ‘Real Estate Promotion Trustee’ for the Chinese market. The announcement was made at Cityscape Global, where the two parties confirmed their joint objective of securing AED 1 billion worth of Chinese investment for Dubai’s real estate market. As part of the agreement, UC Forward has established …

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• 12 September

  Stocks adding to records as Treasury yields climb

  

  Bloomberg US stocks added to records and the dollar held gains while Treasuries fell for a second day as the Trump administration plotted strategy for pushing a tax overhaul. The S&P 500 Index edged towards the 2,500 level, lifted by financial stocks as technology shares were little changed before Apple Inc.’s much-anticipated iPhone unveiling later on Tuesday. The Stoxx Europe …

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• 12 September

  Qatar slides further, Saudi Fransi down on stake sale

  Reuters Qatar’s stock market slid to a 52-month closing low on Tuesday as foreign investors sold, while Banque Saudi Fransi fell in Riyadh after France’s Credit Agricole agreed to sell a 16.2 percent stake in it to local investor Kingdom Holding. The Qatari stock index fell 0.7 percent to 8,472 points, though it ended off the day’s low of 8,390 …

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• 12 September

  US sanctions spook Russian banks funding arms buildup

  

  Bloomberg The new US sanctions law threatens to cut off a vital channel for Russia’s funding of its massive defense buildup, according to four people familiar with the situation. Officials in the government and state banks—Sberbank PJSC and VTB Bank PJSC are the biggest players—are looking for ways to get around the restrictions or minimise their impact on the funding, …

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• 12 September

  Credit Agricole to sell Saudi Fransi stake to Alwaleed

  

  Reuters France’s Credit Agricole has agreed to sell about half its 31.1 percent stake in Banque Saudi Fransi to billionaire Prince Alwaleed Bin Talal’s Kingdom Holding for $1.54 billion. The sale was part of a wider review of Credit Agricole’s assets and markets to meet new banking rules and tougher economic conditions. Sources had said in March it picked JPMorgan …

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• 12 September

  Swiss Franc’s drop could let SNB relax

  

  Bloomberg As the Swiss franc weakens, the nation’s central bank must decide whether it can afford to relax a little. The currency’s 5 percent decline against the euro over the past three months is good news for the Swiss National Bank in its long-running bid to revive inflation. For President Thomas Jordan and fellow policy makers meeting this week, it …

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• 12 September

  Banks from China, Japan lead globalisation charge: McKinsey

  Bloomberg Banks from China, Japan and Canada have overseen a surge in overseas lending since the financial crisis, helping to cushion a deep slide in cross-border capital flows thanks especially to a retreat by European banks, according to the McKinsey Global Institute. While the stock of global foreign holdings—including loans, equities, bonds and foreign direct investment—has remained about the same …

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