December, 2019

• 4 December

  Yes Bank’s plan to raise $2bn in capital leaves investors unimpressed

  

  Bloomberg Almost a week after embattled Yes Bank Ltd unveiled details of its plans to raise $2 billion in capital, shareholders remain unconvinced that a deal will take place. Shares of the Mumbai-based lender have fallen about 8% since it announced the names of the investors for its proposed preferential issue. Doubts over key foreign bidders have triggered concerns that ...

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• 4 December

  ‘Euro is the currency no one wants to own’

  

  Bloomberg The euro is encroaching on the dollar’s territory as the world’s currency of global borrowing, but that doesn’t mean anyone wants to keep hold of it. “No one wants to hold euro cash as an asset anymore but everyone wants it as a liability,” George Saravelos, Deutsche Bank AG’s global head of currency research, wrote in a note. As ...

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• 4 December

  JPMorgan among banks added to ECB oversight

  

  Bloomberg The European Central Bank (ECB) has started supervising some of the world’s top securities firms’ businesses in the region, as they build up their operations across the European Union ahead of Brexit. European units of Goldman Sachs Group Inc, JPMorgan Chase & Co, Morgan Stanley and UBS Group AG entered the ECB’s oversight this year as a result of ...

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• 4 December

  Online glitch at HDFC bank hits business for third day

  Bloomberg A prolonged glitch at HDFC Bank Ltd, an Indian lender well known for its digital services, could erode trust and hurt business as clients struggle to perform basic transactions. An unknown number of the Mumbai-based lender’s 49 million customers have been locked out of its online banking platform for the past three days, prompting dozens to vent their anger ...

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• 4 December

  Pound touches highest since May in vote for Conservatives

  

  Bloomberg The pound reached the highest level in almost seven months as traders stepped up bets on a win for the Conservatives in next week’s election. The currency pushed above $1.30 as polls show the ruling Tories holding their lead over Jeremy Corbyn’s left-wing Labour Party. Sterling also advanced against all major peers as US president Donald Trump’s visit to ...

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• 4 December

  Game-based learning course for ‘Nextgen’ pilots announced

  

  Abu Dhabi / Emirates Business As commercial airliners become more technologically advanced, so too must the skills of the pilots who will fly them. But while aircraft continue to evolve, training methods have not only lagged – they have become increasingly irrelevant to today’s trainee pilots, who have grown up in the digital age. In a statement, Etihad Aviation Training ...

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• 4 December

  DSOA unveils AI-powered conversational bot ‘Hadi’

  

  Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA) has launched “HADI”, an AI-Based Conversational Bot that can answer users’ questions and process transactions with respect to DSOA’s services. HADI will be available on the organisation’s website and other messaging applications, and will constantly evolve to reflect accurate, up-to-date information about Dubai Silicon Oasis business and community services. HADI is ...

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• 4 December

  DIEDC expanding network of strategic partners in GCC

  

  Dubai / Emirates Business Dubai Islamic Economy Development Centre (DIEDC) signed a cooperation agreement with Islamic Economics Institute (IEI) at King Abdul Aziz University in Saudi Arabia, expanding its network of strategic partners in the GCC region. The agreement opens doors for the exchange of knowledge and experience in Islamic economy between the two entities, in addition to coordinating their ...

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• 4 December

  AquaChemie to set up $40m chemical terminal facility at Jebel Ali Port

  

  Dubai / WAM AquaChemie Middle East – a leading regional chemical distributor with an extensive supply chain network and manufacturing base across the GCC region – is poised to build a state-of-the-art chemical terminal facility at Jebel Ali Port in Dubai. Estimated to cost AED150 million ($40 million), the one-of-its-kind facility will serve as a strategic gateway hub to enable ...

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• 4 December

  US House passes Xinjiang bill, prompting threat from China

  

  Bloomberg The US House of Representatives overwhelmingly approved legislation that would impose sanctions on Chinese officials over human rights abuses against Muslim minorities, prompting Beijing to threaten possible retaliation just as the world’s two largest economies seek to close a trade deal. The bill is an amended version of the Senate’s S. 178 to support the Uighurs, a Muslim ethnic ...

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