January, 2020

• 8 January

  UAE invests AED1tn in airport infrastructure

  

  DUBAI / WAM The UAE has so far invested AED1 trillion ($270 billion) in airport infrastructure development projects highlighted the General Civil Aviation Authority’s Director-General. In a statement released by the UAE aviation authority, Saif Mohammed Al Suwaidi said such investments span development projects across the country and a fleet of 884 commercial aircraft. The aviation sector is experiencing significant ...

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• 8 January

  UAE reaffirms importance of regional de-escalation

  ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation said it was closely following regional developments, and reaffirmed the importance of de-escalating current tensions. In a statement issued on Wednesday, the ministry stressed the importance of dialogue and political solutions in the current situation. It also confirmed that recent developments will not affect citizens, residents or visitors ...

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• 8 January

  ‘Seven Lines’ announced as UAE Nation Brand

  

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have officially launched the ‘Seven Lines’ logo as the UAE Nation Brand. The ...

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• 8 January

  Central banks are nearing policy limits: BOE’s Carney

  

  Bloomberg Outgoing Bank of England (BOE) governor Mark Carney said central banks globally are getting close to running out of tools should they need to tackle another serious economic downturn. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had, and I’m of the opinion that this situation will persist for some ...

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• 8 January

  Credit Suisse appoints new infrastructure and renewables head

  

  Bloomberg Credit Suisse Group AG appointed managing director Jonathon Kaufman as the head of its new global infrastructure, utility and renewables group. “Infrastructure was the fastest-growing asset class in 2019, raising over $90 billion, and continues to be of strategic importance,” investment-banking chief David Miller, and Malcolm Price, who oversees the new group as well as financial sponsors and leveraged ...

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• 8 January

  Tencent, UnionPay team up for mobile payment

  

  Bloomberg Tencent Holdings Ltd and China UnionPay Co will soon unify the mobile codes that consumers scan to pay for purchases, granting the Chinese central bank-backed network a bigger foothold in a $27 trillion payments arena. Tencent and UnionPay have agreed to integrate their QR code systems, allowing their respective customers to transfer or spend money using the same smartphone ...

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• 8 January

  Barclays faces vote on climate change

  

  Bloomberg A group of Barclays Plc shareholders have filed what they say is the first climate change resolution at a European bank, taking aim at the lender’s support of fossil fuels. Eleven institutional investors and more than 100 individuals urged Barclays to say how it will phase out financing energy firms that don’t align with the Paris Agreement climate goals, ...

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• 8 January

  Thailand moves closer to US currency watchlist label

  

  Bloomberg Thailand’s trade surplus with the US exceeded $20 billion, raising the chances it will be added to the US Treasury’s watchlist of currency manipulators. The surplus reached $20.05 billion in the 12 months through November, according to US Census Bureau data released in Washington. That exceeds the $20 billion limit the US Treasury has set for bilateral goods trade ...

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• 8 January

  Riksbank signals it won’t raise rates again

  Bloomberg Riksbank Governor Stefan Ingves signalled that the bank’s decision to raise its main rate to zero last month won’t be followed by more tightening for a very long time. According to minutes of the bank’s December meeting, Ingves said he’s even willing to let inflation exceed the bank’s target for a while. That said, he also defended the decision ...

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• 8 January

  ADCEB inks strategic training, partnership deal with PCMA

  

  ABU DHABI / WAM Abu Dhabi Convention & Exhibition Bureau, ADCEB, and PCMA have signed a strategic training and partnership agreement at the PCMA Convening Leaders 2020 conference, which was held this week in San Francisco, USA. As part of the agreement, PCMA will support ADCEB – which is part of the Department of Culture and Tourism – Abu Dhabi, ...

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