December, 2019

• 25 December

  Greece plans to keep on selling new debt

  

  Bloomberg After a decade-long debt crisis that made Greece a bond-market pariah, the country now enjoys the luxury of having no financing needs for 2020. Yet the government’s 2020 budget shows it still plans to sell new debt. Despite a cash buffer of some 32 billion euros ($35.6 billion) left over from the country’s bailout programme, Greece wants to maintain ...

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• 25 December

  Fed’s repo is underscribed again on year-end , but outlook cloudy

  

  Bloomberg The Federal Reserve Bank of New York’s operation to inject cash into the financial system over the end of the year was undersubscribed, which could indicate year-end funding pressures have eased. Primary dealers submitted $28.8 billion in bids for the 15-day term operation, which matures January 7. That was less than the $35 billion on offer. The central bank ...

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• 25 December

  Japan warns banks on risk of investment

  

  Bloomberg Japan needs to remain vigilant about its banks’ overseas investments in bundled credit products because the underlying loans may be less spread out across industries or individual companies than they appear, a senior regulatory official said. ‘’Even if banks individually think they are well-diversified, it is possible that overall risks in the market are concentrated in the same sector ...

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• 25 December

  ‘Blank-check’ deals get new look after high-profile IPO flops

  

  Bloomberg Special purpose acquisition companies (SPAC), once a last resort for owners looking to exit an investment, have become a popular choice for private companies spooked by the swings in the regular IPO market. This helped lead SPAC volumes to their best year yet with a range of top dealmakers from private equity firm TPG to banker Michael Klein getting ...

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• 25 December

  Rakez pioneers eco-friendly developments in Ras Al Khaimah

  

  Ras Al Khaimah / Emirates Business Ras Al Khaimah Economic Zone (Rakez) has become the first entity to support Ras Al Khaimah’s Energy Efficiency and Renewables Strategy 2040. With its upcoming developments, the economic zone has committed to complying with Barjeel, the green building regulations of the emirate, which will soon be mandatory to all building constructions. Currently, Rakez is ...

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• 25 December

  Deyaar arm adds 1,800 units to its portfolio

  Dubai / Emirates Business Deyaar Owners Association Management (DOAM), a subsidiary of Deyaar Development (Deyaar), one of Dubai’s leading property developers and real estate service providers, announced the addition of 1,849 new units, with a saleable area of 1.7 million square feet, to its portfolio throughout the year, increasing the number of units the company now oversees to more than ...

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• 25 December

  SDAA approves system to preserve ‘Tahkeem’ data

  SHARJAH / WAM The Sharjah Documentation and Archiving Authority (SDAA), approved an integrated classification system to manage and preserve document and data privacy of Sharjah International Commercial Arbitration Centre (Tahkeem). The system sets the retention periods for Tahkeem’s files and determines their final status in accordance with best international standards and practices, the SDAA explained in a statement. The new ...

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• 25 December

  Winner of Ecothon Plus competition announced

  

  ABU DHABI / WAM Masdar on Wednesday announced “The Improvers” as the winning team of its Ecothon Plus competition, which is held under its Future Sustainability Leaders programme. Hosted in collaboration with the Emirates Red Crescent, the teams competing in the Ecothon Plus competition were tasked with providing energy-efficient solutions for the UAE-Jordanian Refugee Camp in Marajeeb Al Fhood, Jordan. ...

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• 25 December

  Benin is an important trade partner to Dubai: Musabih

  

  Dubai / WAM The Director-General of Dubai Customs Ahmed Mahboob Musabih has held a meeting with Adamu Aba Bajnan, Consul-General of Benin in Dubai. The two discussed means of boosting bilateral trade and customs cooperation between Benin and Dubai. “It’s very important for us to boost ties of partnership with Beninese diplomatic missions and businesses. We have priorities which include ...

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• 25 December

  UAE and Kazakhstan discuss bilateral relations

  

  NUR-SULTAN / WAM Nursultan Nazarbayev, First President of Kazakhstan, has received Dr Mohammed Ahmed bin Sultan Al Jaber, UAE Ambassador to Kazakhstan. During the meeting, which took place at Nazarbayev’s palace in the Kazakh capital, Nur-Sultan, both sides discussed bilateral ties, which have witnessed significant development in recent years, particularly following signing of a mutual visa exemption agreement for citizens ...

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