October, 2019

• 26 October

  Germany tech company moves to new hub at DSO

  

  DUBAI / WAM Giesecke+Devrient (G+D), a German security technologies provider, on Saturday inaugurated its new regional headquarters and competence centre for services and training at Silicon Park in Dubai Silicon Oasis (DSO). Founded in 1852, G+D is a global security technology group headquartered in Munich, Germany. In the fiscal year 2018, the group generated sales of approximately €2.25 billion. A ...

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• 26 October

  UAE takes part in 18th NAM Summit

  Baku / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, has headed the UAE delegation to the 18th Summit of the Heads of State and Government of the Non-Aligned Movement (NAM) in the Azerbaijani capital Baku. In a statement, the UAE stressed the importance of adhering to the founding principles of the Non-Aligned Movement, known as the ...

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• 26 October

  MBZUAI sees over 3,000 applicants in one week

  ABU DHABI / WAM The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the first graduate-level, research-based artificial intelligence (AI), university in the world, has received immediate interest from graduate students across the globe, with 3,200 starting the application process. The applicants include 1,681 potential students in the last step of their application process and 234 completing their applications within ...

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• 26 October

  Brazil-UAE bilateral trade set to surge in 2019, says envoy

  

  ABU DHABI / WAM Brazil-UAE bilateral trade is set to increase this year with the intensified business transactions, a top Brazilian diplomat said. “The bilateral trade stood at $2.6 billion in 2018, however, the first eight months of 2019 have already witnessed $2 billion trade transactions. This means 2019 trade volumes will surpass the 2018 figures,” Fernando Luis Lemos Igreja, ...

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• 26 October

  UAE’s leadership prioritises women’s health: Sheikha Fatima

  

  ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has highlighted the UAE leadership’s commitment to providing optimal health and prenatal care to women in the country. In a speech marking the over 25 years of dedicated ...

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• 26 October

  India’s Maruti profit lowest in four years

  

  Bloomberg Maruti Suzuki India Ltd posted its lowest quarterly profit since fiscal 2016, caught in the Indian auto market’s worst ever sales slowdown. The Suzuki Motor Corp unit reported net profit of 13.6 billion rupees ($190 million) in the three months ended on September 30, down 39% from 22.4 billion rupees a year earlier. That still beat forecasts: analysts on ...

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• 26 October

  UTI picks Citi, ICICI for IPO in India

  Bloomberg Citigroup Inc and ICICI Securities Ltd are among banks selected for UTI Asset Management Co’s planned initial public offering in Mumbai, according to people familiar with the matter. HSBC Holdings Plc, SBI Capital Markets Ltd and Kotak Mahindra Bank Ltd are also picked to arrange the Indian mutual fund’s share sale, said the people, who asked not to be ...

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• 26 October

  Indonesia to widen budget gap: Minister

  Bloomberg Indonesia’s budget deficit is set to widen this year as a weakening economy puts pressure on government revenue, Finance Minister Sri Mulyani Indrawati said. The manufacturing sector is struggling and commodity prices have dropped significantly, Indrawati told reporters Thursday in Jakarta. She said she’d issued a decree that would allow the government to widen the 2019 deficit and borrow ...

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• 26 October

  Indian court orders telecom firms to pay $13b in past dues

  

  Bloomberg India’s top court ordered several telecom carriers, including Bharti Airtel Ltd, Vodafone Idea Ltd and many defunct ones, to pay the government as much as 920 billion rupees ($13 billion) in past dues, dealing a blow to the businesses already struggling to make profits and pare debt. The Supreme Court, in a ruling read out by a two-judge bench ...

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• 26 October

  Singapore firms make gains among HK IPOs

  

  Bloomberg Hong Kong’s small-cap listings are experiencing outsized gains on their debuts, and none more so than Singaporean companies. Four of them have gone public in Hong Kong in the second half of this year, opening 55% higher than their offer price on average and ending their first day up 58%, according to data compiled by Bloomberg. That compares with ...

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