December, 2019

• 16 December

  UAE and Egypt to bolster trade ties, boost bilateral exports

  

  DUBAI / WAM The UAE and Egypt have agreed to strengthen trade relations and boost bilateral exports between the two countries through a Memorandum of Understanding signed between Etihad Credit Insurance (ECI), the UAE Federal Export Credit company and the Export Credit Guarantee Company of Egypt (ECGE). The agreement, signed by Massimo Falcioni, CEO of ECI and Mohamed Azzam, Managing ...

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• 16 December

  Details for Culture Summit Abu Dhabi 2020 announced

  

  ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has announced details about next edition of Culture Summit Abu Dhabi, the leading global forum which explores creative cultural solutions to the most pressing issues affecting the world today. Culture Summit Abu Dhabi 2020 will take place at Manarat Al Saadiyat from April 5-9, ...

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• 16 December

  Protests rock India as anger against citizenship law grows

  

  Bloomberg Tensions remained high across India on Monday after five days of protests against a contentious new religion-based citizenship law turned violent in the capital New Delhi and other parts of the country, with police using tear gas to disperse crowds. Anger against the law has fueled protests across Asia’s third-largest economy, from Assam, about 1,900 kilometers (1,180 miles) to ...

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• 16 December

  European stocks hit record as US futures climb on trade deal

  

  Bloomberg European stocks and US equity futures started the week on the front foot amid hopes a partial trade deal between America and China eases a key risk for investors heading into year-end. Treasuries edged lower. The Stoxx Europe 600 became the latest major equity gauge to hit a new all-time high as it jumped for a fourth day, led ...

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• 16 December

  Five things to watch in European luxury goods stocks in 2020

  

  Bloomberg For the owners of red-hot luxury brands such as LVMH’s Louis Vuitton and Kering SA’s Gucci, 2019 turned out to be a spectacular year in the stock market, confounding the dire predictions from some analysts. It may be hard to replicate that feat in 2020. Kering and Hermes International have each surged 37% this year, while juggernaut LVMH has ...

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• 16 December

  PG&E plunges as it races to meet bankruptcy demand

  Bloomberg PG&E Corp shares plummeted after California Governor Gavin Newsom rejected its bankruptcy restructuring plan, forcing the company to make sweeping changes to meet his demands. The state’s largest power company has until Tuesday to address conditions that Newsom laid out in a letter late last week rejecting its reorganisation proposal. The governor said the current plan falls “woefully short” ...

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• 16 December

  China gets twin boost from trade deal, better Nov data

  

  Bloomberg The pickup in China’s economy in November adds to the optimism from the trade deal announced last week, though plenty of downside risks remain as the nation heads into 2020. Industrial output and private consumption were both much stronger than expected, with production jumping 6.2% from a year earlier and retail sales climbing 8%, data released on Monday showed. ...

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• 16 December

  Indonesia trade deficit surges to $1.3b

  Bloomberg Indonesia’s trade deficit blew out to $1.3 billion in November as imports of consumer goods surged and exports contracted for a 13th straight month. Exports fell 5.7% from a year ago to $14 billion compared to a 2.8% decline forecast in a Bloomberg survey of economists, as the US-China trade war and a global slowdown continued to weigh on ...

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• 16 December

  Coca-Cola cans maker in Pakistan mulls $100m sale

  

  Bloomberg Beverage cans manufacturer Pakistan Aluminium Beverage Cans Ltd (PABC), a joint venture of the UK’s Ashmore Group and Pakistan’s Liberty Group Ltd, is exploring a sale that could fetch about $100 million, people with knowledge of the matter said. The shareholders are working with an adviser on the potential sale, said the people, who asked not to be identified ...

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• 16 December

  Hong Kong’s top TV broadcaster cuts 10% of staff amid sowdown

  

  Bloomberg Hong Kong’s largest television broadcaster said it is cutting its workforce, citing an economic slowdown and a “severe situation” as months of social unrest have rocked the city. Television Broadcasts Ltd’s (TVB) 3,500-person staff — excluding artists — will be reduced by 10% to improve cost efficiency, according to an email to staff members from Chief Executive Officer Mark ...

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