December, 2019

• 25 December

  China’s imports of US soy hit two-year high

  

  Bloomberg China’s imports of US soybeans rose to the highest in 20 months in November after more American cargoes cleared customs ahead of the signing of a partial trade deal in January. China’s inbound shipments from the US surged to 2.6 million tons, the highest since March 2018, and up from about 1.1 million tons in October. China imported almost ...

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• 25 December

  Abu Dhabi government, Aldar agree on land assets exchange

  

  ABU DHABI / WAM The Government of Abu Dhabi and Aldar Properties have agreed on an exchange of land assets in a transaction that will see the redistribution of land resources suitable for development in accordance with both the Abu Dhabi Government and Aldar’s respective strategic priorities. The agreement, implemented by the Abu Dhabi Department of Municipalities and Transport, contributes ...

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• 25 December

  IMO 2020 set to boost Fujairah’s bunker industry

  

  Fujairah / WAM A century after the shipping industry moved from coal to oil as its primary energy source, another change on the same scale is now under way – one prompted this time by a change in environmental regulations. The shift could provide a significant boost to the status of the UAE’s East Coast Port of Fujairah as a ...

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• 25 December

  500 Uzbek employees take part in UAE workshops

  

  Dubai / WAM The UAE government organised several knowledge sessions and specialist workshops, attended by over 500 government employees from Uzbekistan. The hosting of the sessions is part of the strategic partnership in government modernisation signed by the two countries. The UAE government held workshops and knowledge sessions in Dubai and the Uzbek capital, Tashkent, which included training a high-level ...

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• 25 December

  CBUAE, Emirates Foundation to raise financial awareness

  

  Abu Dhabi / WAM The Central Bank of the UAE (CBUAE), signed a Memorandum of Understanding (MoU), with Emirates Foundation to roll out financial literacy programmes through Emirates Foundation’s ‘Esref Sah’ programme, which aims to raise financial awareness among youth and educate them on ways of managing their finances. The MoU was signed by Saif Hadef AlShamsi, Deputy Governor of CBUAE, ...

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• 25 December

  Dubai sports sector is witnessing momentum, says Sheikh Hamdan

  

  Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman of Dubai Sports Council, has said that the emirate pays special attention to its sports sector. This attention, he explained, is reflected in the growing number of local and international competitions and events that Dubai hosts, as ...

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• 25 December

  The lost decade: Energy stocks seek relevancy as investors flee

  

  Bloomberg It’s been a tough run for energy stocks. Oil at $100 a barrel is long gone. Investors have exited their losing positions. And energy stocks in the S&P 500 now hold a weight of barely 4%, down from over 10% at the start of the decade. As 2019 comes to a close, investor apathy in the sector is at ...

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• 25 December

  Coffee’s rally keeps traders guessing on 2020 outlook

  

  Bloomberg Coffee’s stunning rally in late 2019 took many traders and analysts by surprise, creating tension over where prices go from here. Arabica beans have surged 28% since the end of September, on pace for the best quarterly performance since 2014 and the biggest gain among major commodities in the last three months. The move came after futures in May ...

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• 25 December

  China vows to improve bond handling as defaults surge

  

  Bloomberg China’s financial regulators are calling for more transparent and fair handling of defaults to restore investor confidence in the world’s second-largest bond market, after repayment failures hit a record high this year. Senior officials from the central bank, the securities regulatory body, the supreme court and other departments discussed court-mediated dispute resolution concerning bond defaults at a symposium in ...

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• 25 December

  Fraud-hit lender in India alleges ‘it has been swindled again’

  

  Bloomberg Scandal-hit Indian lender Punjab National Bank (PNB) alleged it has been cheated — its third complaint since 2018 when it suffered through a $2 billion blow. The state-run bank filed a complaint in October alleging that Jagdish Khattar, founder of Carnation Auto India Pvt, a vehicle repair and servicing company, cheated the bank of 1.1 billion rupees ($15.4 million), ...

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