November, 2019

• 3 November

  Airline credit cards are getting a very smart makeover

  

  Bloomberg For more than two decades, airline credit cards offered consumers a simple formula: Spend a dollar, earn a mile, pay an annual fee, repeat. If you played the game correctly, you’d score at least a free ticket each year—just by making everyday purchases. The only issue? As powerful rewards cards such as the Platinum Card from American Express and ...

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• 2 November

  DGCX trades $373b worth of contracts in 10 months

  

  DUBAI / Emirates Business The Dubai Gold and Commodities Exchange (DGCX) is on course to break last year’s annual volumes record of 22.3 million contracts traded, having already traded 20.3 million contracts this year, valued at $373 billion. Last month, the DGCX traded 1.68 million contracts, and registered Average Daily Volumes (ADV) of 72,921, up 11.5% year-on-year (y-o-y). DGCX’s success ...

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• 2 November

  UAE awarded permanent seat on ICCROM Council

  ROME / WAM The United Arab Emirates has been awarded a permanent membership with observer status on the Council of the International Centre for the Study of the Preservation and Restoration of Cultural Property (ICCROM). The decision was made by ICCROM’s Council 93rd session in Rome, in recognition of UAE’s support and contributions to organisation, including hosting the only regional ...

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• 2 November

  Saudi crown prince gives green light for Aramco IPO

  

  Bloomberg Saudi Crown Prince Mohammed bin Salman finally gave the go-ahead for the initial public offering (IPO) of Aramco, deciding there’s enough support from local investors for what’s likely to be a record share sale. The crown prince made the decision at a meeting he chaired and an official announcement is likely as soon as Sunday. The partial privatisation will ...

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• 2 November

  Mahathir: Asean should unite against Trump, EU on trade

  

  Bloomberg Southeast Asian countries should band together and speak with one voice in global trade disputes with the US and European Union (EU) to avoid being bullied, according to Malaysian Prime Minister Mahathir Mohamad. Speaking to a business forum in Bangkok, Mahathir said the 10-member Association of Southeast Asian Nations (Asean) should leverage its market of 650 million people to ...

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• 2 November

  Dubai-Ukraine trade hit AED2.16 billion in 2018

  

  Dubai / WAM Director General of Dubai Customs, Ahmed Mahboob Musabih and Oleksandr Khomiak, Consul General of Ukraine to Dubai discussed means of boosting cooperation between Ukraine and the UAE, especially in areas of trade. “It’s very important for us to boost ties of partnership with the Ukrainian diplomatic missions and companies. We have priorities which include delivering a leading ...

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• 2 November

  ‘UAE committed to global prosperity’

  

  Abu Dhabi / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, has emphasised the UAE’s unwavering commitment to global prosperity and setting an example to Least Developed Countries in remarks made at the 8th Ministerial Conference of the Least Developed Countries organised by the United Nations Industrial Development Organization. The event, held on November 2 ...

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• 2 November

  MOCCAE commences work on Smart Map of Natural Capital of UAE

  Dubai / WAM The Ministry of Climate Change and Environment (MOCCAE), on Saturday announced it commenced work on the Smart Map of Natural Capital of the UAE. The two-phased initiative aims to identify local biologically rich ecosystems and the services they provide to the indigenous environment, in addition to carrying out an economic valuation of these services. Data will be ...

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• 2 November

  Google buys Fitbit to boost hardware

  

  Bloomberg Alphabet Inc’s Google acquired smartwatch maker Fitbit Inc for $2.1 billion in cash, a move that could shore up the internet giant’s hardware business while also potentially increasing antitrust scrutiny. Fitbit shares jumped 16%. Google will pay $7.35 a share for San Francisco-based Fitbit, according to a statement. That represents a 71% premium to Fitbit’s stock price before Reuters ...

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• 2 November

  Apple lost ground to Samsung, Huawei before iPhone 11 debut

  

  Bloomberg Apple Inc lost ground to Samsung and Huawei in the third quarter when global smartphone sales rose on a quarterly basis only for the first time in two years, according to Canalys. Apple shipments fell 7% to 43.5 million units in the July to September period, just before the well-received iPhone 11 hit global store shelves, the researcher estimated. ...

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