December, 2019

• 18 December

  Deal signed to help UAE businesses, exporters access global markets

  

  Dubai / WAM Etihad Credit Insurance (ECI), signed a Memorandum of Understanding (MoU) with HSBC to help UAE businesses and exporters access global markets, which will give them a platform for sustainable growth and development over the long-term. The MoU was signed by Massimo Falcioni, CEO of Etihad Credit Insurance, and Abdulfattah Sharaf, Chief Executive Officer, UAE and Head of ...

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• 18 December

  Adnoc Distribution unveils next-gen convenience store

  

  Abu Dhabi / Emirates Business Adnoc Distribution, UAE’s largest fuel and convenience retailer, unveiled its next-generation Oasis store at the Corniche Road station, Abu Dhabi. The contemporary refreshed look and feel will be the start of an extensive refurbishment plan. Following the Adnoc Distribution Board of Directors meeting, the Board visited the store. The newly designed space features a range ...

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• 18 December

  UAE a global role model to follow in renewables sector

  

  Abu Dhabi / WAM Dr Nawal Al Hosany, Permanent Representative of the UAE to the International Renewable Energy Agency (Irena), said that the UAE’s contributions to the renewable energy sector have made it a model to follow, with investments worth $12 billion covering 49 renewable energy projects across 25 countries, producing some 4GW of energy supplies to communities. Al Hosany noted ...

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• 18 December

  ‘Fulfilling needs of citizens a leading priority of UAE’

  

  Fujairah / WAM His Highnesss Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, stated that fulfilling the needs of Emiratis is one of the UAE’s leading priorities and is part of its strategic plans. He also noted the country’s keenness to implement development projects to support UAE citizens and improve their living standards. Sheikh Hamad ...

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• 18 December

  China liquidity jitters are set to test bond market again

  

  Bloomberg China’s government-bond investors will soon be looking for reassurance from the central bank that there’s plenty of cash in the financial system. The country will see a “liquidity hole” of 2.8 trillion yuan ($400 billion) in January, in large part because people across the nation will withdraw cash for the Lunar New Year holiday, according to Guotai Junan Securities ...

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• 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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