December, 2019

• 9 December

  Abu Dhabi selected as world’s leading sports tourism hub

  

  ABU DHABI / WAM Representatives from the Department of Culture and Tourism – Abu Dhabi, DCT – Abu Dhabi, have arrived in Muscat to receive the award for World’s Leading Sports Tourism Destination at the 26th edition of the World Travel Awards (WTA), Grand Final Ceremony 2019. The award is the latest in several prestigious accolades gained by Abu Dhabi ...

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• 9 December

  ADX takes part in SALT

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX), announced its participation at the SALT Conference, a global thought leadership forum that aims to enhance collaboration between finance, technology and geopolitics. The conference, which kicked off on Monday and will run till December 11, is held in partnership with Abu Dhabi Global Market (ADGM). According to a statement by the ...

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• 9 December

  Abu Dhabi launches digital ‘violation reporting platform’

  

  ABU DHABI / WAM The Abu Dhabi Accountability Authority (ADAA), on Monday announced the launch of a digital ‘Violation Reporting Platform’ that will enable the reporting of suspicious financial and administrative violations across government entities. According to a statement by the Authority, the newly launched digital platform will enhance Abu Dhabi’s competitiveness and further establish investor confidence in its business ...

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• 9 December

  ‘UAE’s model of tolerance is a unique, influential soft power’

  

  The UAE is continuing to promote its inspiring model of tolerance, coexistence and openness to others, after leading globally through its unprecedented initiative launched this year that made it the “Capital of Tolerance.” The UAE has proven the importance of the key role of its soft power in reinforcing human fraternity principles and encouraging moderate speech discourse, through supporting all ...

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• 9 December

  Speed of euro’s revival may surprise forecasters in 2020

  

  Bloomberg The euro may take pundits by surprise next year by climbing faster than expected. The common currency is seen rising to $1.12 by March before a steady ascent to $1.16 by the end of 2020, up from around $1.1065 now, according to a Bloomberg survey. Yet some analysts could be underestimating the prospects for fiscal stimulus, a growing chorus ...

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• 9 December

  Yes Bank to reject $1.2b bid by Canadian tycoon

  

  Bloomberg Yes Bank Ltd is likely to reject an offer that made up more than half of its planned $2 billion capital raising, and is talking to institutional investors about making up the shortfall, according to a person familiar with the matter. At a meeting, the board is expected to reject an offer from Canada’s Erwin Singh Braich and Hong ...

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• 9 December

  Philippine bank probes transfers using LitePay

  

  Bloomberg Bank of the Philippine Islands has started its own probe into fund transfers made using a Westpac Banking Corp service blamed for Australia’s worst-ever money laundering breach. The Ayala Corp-owned bank started investigating transactions made through LitePay, a low-cost fund transfer system Westpac launched in 2016, after violations came to light in late November, BPI spokesman Owen Cammayo said. ...

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• 9 December

  Uganda keeps lending rate unchanged at 9%

  Bloomberg Uganda’s central bank held its benchmark rate at 9% saying subdued inflation provides room to shield the economy from global headwinds and increasing domestic needs for private-sector financing. The monetary policy stance remains accommodative and supportive, Governor Emmanuel Tumusiime-Mutebile told reporters in the capital, Kampala. The central bank cut the key rate for the first time in more than ...

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• 9 December

  Kazakhstan holds key rate, but warns of inflation

  

  Bloomberg The National Bank of Kazakhstan kept interest rates on hold at a second consecutive meeting, but warned that inflation may pick up in the first quarter of next year. The base rate stayed unchanged at 9.25%, the National Bank of Kazakhstan said in a statement. The decision was forecast by six economists polled by Bloomberg. Inflation may accelerate to ...

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• 9 December

  Mexico inflation slows below target, fuelling easing bets

  Bloomberg Mexico’s inflation slowed to slightly below the central bank’s target for the first time since 2016, bolstering economists’ expectations that policy makers will keep cutting interest rates this month. Consumer prices rose 2.97% in November from a year earlier, less than the 3% forecast by economists in a Bloomberg survey, Mexico’s statistics agency reported on Monday. Prices increased 0.81% ...

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