November, 2019

• 13 November

  Brexit’s derivatives spat needs urgent fix: Banks

  

  Bloomberg The world’s biggest banks pressed policy makers to pass an urgent Brexit fix to ensure European traders’ access to London derivatives clearinghouses and avoid rupturing 61 trillion pounds ($78 trillion) in contracts. The industry’s top lobbying associations told the European Commission, the European Union’s executive arm, that it must act fast or risk turmoil when the stopgap solution elapses ...

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• 13 November

  New Zealand keeps interest rates unchanged

  

  Bloomberg New Zealand’s central bank (RBNZ ) left interest rates unchanged — defying widespread expectations of a cut — saying there are signs the domestic economy will stop slowing and that inflation will pick up. The local currency jumped. “Economic developments since the August Statement do not warrant a change to the already stimulatory monetary setting at this time,” the ...

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• 13 November

  Canada’s Home Capital group makes comeback

  

  Bloomberg It took two years, but Home Capital Group Inc shares have regained all their lost ground since the Canadian alternative mortgage lender almost collapsed in 2017. Home Capital has doubled this year to become the sixth-best performing stock on Canada’s benchmark S&P/TSX Composite Index. The Toronto-based lender closed at C$29 on the Toronto Stock Exchange for a market value ...

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• 13 November

  ECB picks Bank of France director for key position

  Bloomberg The European Central Bank (ecb)appointed Imene Rahmouni-Rousseau, a director at the Bank of France, as its next chief of market operations — a key role in implementing monetary policy following the resumption of quantitative easing. Rahmouni-Rousseau will take over as Director General Market Operations on February 1, replacing long-time chief Ulrich Bindseil, who now heads market infrastructure and payments ...

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• 13 November

  Citi says rehiring ex-trader after acquittal is non-starter

  

  Bloomberg Citigroup Inc said the prospect of rehiring a former trader after he was acquitted of rigging foreign-exchange markets last year is a “non-starter” following the “clearest possible breakdown in trust and confidence.” Rohan Ramchandani was fired after a swift investigation by the bank into his chatroom messages and is suing the bank in an employment tribunal in London, asking ...

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• 13 November

  Etihad, Pakistan’s PIA relaunch codeshare partnership

  

  Abu Dhabi / Emirates Business Etihad Airways (Etihad), the national airline of the UAE, and the flag carrier of Pakistan, Pakistan International Airlines (PIA), relaunched their codeshare partnership to provide their customers with greater access to both airlines’ trunk routes between the UAE and Pakistan, and on Etihad services across its global network. The codeshare flights will be open for ...

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• 13 November

  Schlumberger plans to employ 1,000 Emiratis

  

  ABU DHABI / WAM Schlumberger on Wednesday signed an agreement with the Abu Dhabi National Oil Company (Adnoc), to support its In-Country Value (ICV), Programme, which is designed to catalyse socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals. Through participation in Adnoc’s ICV Programme, Schlumberger plans to recruit and invest in the training of UAE nationals for the ...

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• 13 November

  Sudanese teen declared Arab Reading Champion in Dubai

  

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, in the presence of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; and H.H. Sheikh Saif bin Zayed Al Nahyan, ...

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• 13 November

  Egyptian president starts state visit to UAE

  ABU DHABI / WAM Egyptian President Abdel Fattah El Sisi arrived in Abu Dhabi on Wednesday on a two-day state visit to the UAE. His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, led an entourage of Sheikhs, ministers and senior officials to welcome the Egyptian leader ...

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• 13 November

  UAE and Egypt is an inspiring Arab model for government action

  

  Abu Dhabi / WAM The strategic partnership between the UAE and Egypt in the field of government modernisation has translated the vision of the two countries’ leaderships in developing a common Arab model of government action according to the best international standards. In April 2018, the United Arab Emirates and the Arab Republic of Egypt launched a strategic partnership to ...

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