January, 2020

• 8 January

  Empower’s e-transactions rise 15% to reach 500,000

  Dubai / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced a significant increase in the online transactions and recorded over 500,000 e-transactions in 2019, representing a 15% increase year over year, in using the e-payment channels provided to over 100,000 clients either through the company’s system or its strategic partners such as ...

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• 8 January

  Hay Festival to take place in February

  ABU DHABI / WAM The first edition of Hay Festival Abu Dhabi to be held from February 25-28, supported by the UAE’s Ministry of Tolerance, will feature a range of award-winning writers, journalists, historians, filmmakers and artists in an international programme spanning nearly 100 events over four days. The festival spotlights the latest ideas in the arts, sciences and current ...

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• 8 January

  Abu Dhabi hospitality sector sees growth in Q4 2019

  

  ABU DHABI / WAM The hospitality sector in Abu Dhabi reported impressive growth across all major KPIs during the last quarter of 2019, revealed the Department of Culture and Tourism – Abu Dhabi. The figures were presented during DCT Abu Dhabi’s regular industry development meeting which sees key representatives from Abu Dhabi’s hotels and industry partners highlighting the latest trends ...

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• 8 January

  Europe’s factories headed into 2020 with less hope for jobs

  

  Bloomberg Europe’s manufacturers headed into the new year on a downbeat note, with expectations for both export orders and employment weakening at the end of a rough 2019. The latest sentiment figures from the European Commission came just hours after Germany reported an unexpected drop in manufacturing orders. That’s a volatile figure, but it adds to signs that Europe’s largest ...

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• 8 January

  Trump’s trade deficit victory has plenty of caveats attached

  

  Bloomberg New data shows president Donald Trump may be poised to deliver on one of his biggest economic promises: Reducing the annual US trade deficit with China and the world. Scratch the surface, though, and that accomplishment comes with plenty of caveats attached and even what some economists see as worrying signs for the US economy. November trade data released ...

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• 8 January

  ‘Trump’s tech spat is about taking 5G lead’

  

  Bloomberg For Paul Boudre, US president Donald Trump’s push against Chinese telecommunications companies is less about espionage than the race for technological supremacy. Boudre, the chief executive officer of Soitec, a French maker of semiconductor materials that go into 5G equipment, automobiles, cloud computing and IT infrastructure, says Trump’s actions are aimed primarily at allowing American firms to catch up. ...

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• 8 January

  Strike over Modi’s policies disrupts banks, transport

  

  Bloomberg India’s transport and banking services were disrupted on Wednesday as millions of employees joined a strike called by the country’s major trade unions to protest against prime minister Narendra Modi’s economic policies. About 250 million people across at least 12 states including Kerala, West Bengal, Bihar, Odisha and Assam participated in the nationwide strike, said Tapan Sen, general secretary ...

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• 8 January

  China’s Citic tightens grip over CLSA unit

  

  Bloomberg Citic Securities Co is tightening control over its CLSA Ltd unit, following an exodus of staff and top executives from the Hong Kong brokerage last year amid a clash over corporate culture and bonus levels. China’s biggest broker is creating a “coordination committee” at CLSA, which will include its president Yang Minghui and Chairman Zhang Youjun, according to people ...

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• 8 January

  India court revives overseas probe into tycoon Adani’s firms

  

  Bloomberg India’s Supreme Court revived the nation’s revenue department’s bid to investigate billionaire Gautam Adani’s companies, which the agency claims got undue tax benefits by overvaluing coal imports. A three-judge bench headed by Chief Justice SA Bobde on Wednesday put on hold a lower court’s ruling, effectively allowing the revenue office to seek information on the case from overseas. The ...

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• 8 January

  Samsung profit beats after chip prices climb

  

  Bloomberg Samsung Electronics Co’s quarterly earnings beat estimates after memory chip prices began to climb out of a persistent downturn. The world’s largest memory chip maker reported a 34% fall in operating income to 7.1 trillion won ($6.1 billion) in the three months ending December, according to preliminary results released on Wednesday by the Suwon, South Korea-based company. That compares ...

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