December, 2019

• 18 December

  ECB may let Greek banks buy more of sovereign debt

  

  Bloomberg The European Central Bank’s (ECB) Single Supervisory Mechanism will likely lift the ceiling on Greek banks’ holdings of the country’s sovereign bonds, people familiar with the situation said. The supervisory ceiling set in 2015 is expected to be lifted in February, according to the people, who asked not to be named discussing ongoing deliberations. European and national authorities warned ...

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• 18 December

  Thailand holds interest rate as growth forecasts lowered

  

  Bloomberg The Bank of Thailand held its benchmark interest rate steady at an all-time low and cut its forecasts for economic growth, saying it was gauging whether further efforts were needed to restrain the local currency. The central bank kept its policy rate at 1.25% on Wednesday in a unanimous decision. All 23 economists in a Bloomberg survey predicted a ...

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• 18 December

  Togo gets $150mn loan from World Bank to refinance debt

  

  Bloomberg Togo and the World Bank have agreed a $150 million loan to refinance its more expensive debt after the global lender failed to guarantee the initial 300 million euros that the country is seeking. “Due to the refusal of the new board of the World Bank to guarantee the syndicated loans,” Togo has held discussions on a cheaper loan,” ...

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• 18 December

  Traders bet for BOE rate cuts in 2020

  Bloomberg Traders have ramped up bets for the Bank of England (BOE) to lower interest rates at the end of 2020 after Prime Minister Boris Johnson reignited fears of a no-deal Brexit. Money markets see an 80% probability of the central bank cutting by 25 basis points in December 2020, up from about 30%. While Johnson’s victory last week fueled ...

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• 18 December

  Singapore digital bank wannabes must prove they can profit

  

  Bloomberg Grab Holdings Inc and gaming company Razer Inc will need to demonstrate how their millions of users can help them generate profits if the two technology firms are to win one of Singapore’s coveted virtual banking licenses. That’s because the Monetary Authority of Singapore is putting more emphasis on profitability and strong capital requirements than some other regulators inviting ...

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• 18 December

  Ajman Free Zone opens business hub for investors

  

  Ajman / Emirates Business Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone (AFZ), officially inaugurated the “Business Hub”, a dedicated facility for both freelancers, entrepreneurs and businesses accommodated within the main Ajman Free Zone building. The new hub has been specially designed to provide AFZ investors with a comfortable and practical environment from which to operate their ...

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• 18 December

  New rules to increase ease of doing business, says DMCC

  

  DUBAI / WAM Dubai Multi Commodities Centre, (DMCC) – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced a set of new rules and regulations effective from January 2, 2020 to further enhance the ease of setting up and doing business in DMCC. The new regulations update DMCC’s existing company law ...

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• 18 December

  Emirates Steel receives ‘Best Exporter’ award

  

  ABU DHABI / Emirates Business Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (Senaat), has been awarded a ‘Best Exporter Award’ by the Arab Iron and Steel Union (AISU) during the 14th Arab Steel Summit in Tunisia. The event was attended by industry experts and leading companies in the iron ...

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• 18 December

  Abu Dhabi slashes traffic fines for motorists by 50%

  

  Abu Dhabi / WAM The General Command of Abu Dhabi Police (ADP), announced on Wednesday the reduction of traffic violations committed before December 22, in the Emirate of Abu Dhabi, by 50 percent. Black points and penalties for impounded vehicles will also be cancelled for three months, the General Command explained. ADP also announced a new scheme, beginning December 22, ...

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• 18 December

  Thailand hit by slowing tires demand in China

  

  Bloomberg Car tires helped make Thailand a $6 billion latex powerhouse. Now, the industry wants to plaster the plant material on faces and use it to stop coastal erosion in a makeover designed to keep more rubber profits at home. Thai rubber, which has traditionally ended up in foreign tires, gloves, and other manufactured products, is reeling from slowing car ...

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