February, 2020

• 12 February

  Powell suggests Fed may lack ammo to combat next recession

  

  Bloomberg Federal Reserve Chairman Jerome Powell came close to acknowledging that the central bank may not have the firepower to fight the next recession and called on Congress to get ready to help. The current low level of interest rates “means that it would be important for fiscal policy to support the economy if it weakens,” he told the House ...

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• 12 February

  Malaysia sees room to cut interest rates

  

  Bloomberg Malaysia’s central bank sees room to adjust monetary policy again after economic growth slowed to its weakest pace in more than a decade and the nation braces for the impact of the coronavirus on tourism and trade. Fourth quarter gross domestic product expanded 3.6% from a year ago, the lowest since the third quarter of 2009 and far worse ...

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• 12 February

  ECB officials defend rates with eye on side effects

  

  Bloomberg Three of the European Central Bank’s (ECB) top policy makers defended their monetary stimulus even as they acknowledged that the negative side effects must be watched closely. President Christine Lagarde told the European Parliament in Strasbourg that she realises subzero interest rates and bond purchases can hurt savers and lead to overvalued asset prices such as real estate, but ...

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• 12 February

  India using yield curve control as rate cuts fail to deliver

  

  Bloomberg India’s central bank is actively managing bond yields to keep borrowing costs in check, analysts say, after five interest-rate cuts last year failed to spur lending in the economy. The Reserve Bank of India’s (RBI) recent shift to targeted cash injections and credit easing contrasts with the central bank’s insistence that it only looks to smoothen liquidity and facilitate ...

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• 12 February

  Poland fails to assure with economic appraisal

  Bloomberg Poland’s central bank is raising eyebrows in its justifications for maintaining record-low borrowing costs. Governor Adam Glapinski has brushed aside concern about the worst economic expansion in three years and an upward shift in inflation surpassing anywhere else in the European Union (EU). Western sluggishness is weighing on growth, he says, while factors beyond the bank’s control are driving ...

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• 12 February

  Emaar reports net profit of AED6.2billion in 2019

  

  DUBAI / WAM Emaar Properties exhibited a resilient performance in FY 2019 by recording net profit of AED6.20 billion as compared to net profit of AED6.139 billion in FY 2018. Emaar recorded revenue of AED 24.586 billion for 2019. Emaar maintained its positive performance in 2019 recording property sales in Dubai of AED14.949 billion. This performance is a result of ...

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• 12 February

  Etihad announces launch of TravelPass

  

  Abu Dhabi / Emirates Business Etihad Airways has announced a partnership with Norwegian technology developer Braathens IT, to develop TravelPass, an innovative travel solution initially aimed at corporate and frequent travellers which will launch later this year. The new TravelPass technology provides a subscription-based travel solution, allowing Etihad to offer its frequent guests complete flexibility and ease with their regular ...

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• 12 February

  ERC’s winter aid campaign benefits 125,000 in Greece

  

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), is continuing its relief operations, under the framework of its winter campaign to support refugees in Greece who are facing tough climate conditions, upon the directives of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the ERC. The ERC delegation that arrived in ...

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• 12 February

  Experience ‘Singing Trees’ installation at Louvre Abu Dhabi

  

  Abu Dhabi / WAM Louvre Abu Dhabi and Théâtre du Châtelet, with the support of Bloomberg Philanthropies, will present the world premiere of “Singing Trees”, a new interactive installation created by award-winning digital artists from London, Umbrellium, in collaboration with the Institute for Research and Coordination in Acoustics/Music, IRCAM, from Paris, and independent producer, Katherine Jewkes. After its premiere at ...

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• 12 February

  Arab Children’s Parliament visits Sharjah Centre of Astronomy

  

  SHARJAH / WAM Members of the Arab Children’s Parliament has paid a visit to the Sharjah Centre for Astronomy and Space Sciences to get acquainted with the various sections of the centre such as the astronomical observatory, research and laboratories, and the astronomical dome. Aisha Al Owais, a research assistant at the Meteorological Laboratory, explained to the Arab Parliament members ...

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