October, 2019

• 20 October

  SIB 9-month profit up 4.5% to AED415.4mn

  

  Sharjah / WAM The Sharjah Islamic Bank (SIB), reported a net profit of AED415.4 million for the first nine months of 2019, compared to AED397.7 million for the same period last year, with a projected increase of 4.5%. The bank’s total assets reached AED45.6 billion as of the end of the third quarter of 2019, with an increase of AED890.2 ...

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• 20 October

  6th World Green Economy summit kicks off in Dubai

  

  Dubai / Emirates Business Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of Dubai Electricity and Water Authority (Dewa) inaugurated on Sunday the 6th World Green Economy Summit (WGES ...

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• 20 October

  FNC concludes its participation in IPU meetings in Serbia

  

  BELGRADE / WAM A Federal National Council (FNC), delegation, led by Dr Amal Abdullah Al Qubaisi, Speaker of the FNC, concluded its participation in the meetings of the 141st General Assembly and the 205th Governing Council of the Inter-Parliamentary Union (IPU), held in the Serbian capital, Belgrade, with the participation of over 1,700 parliamentarians from 140 countries. During the meetings, ...

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• 20 October

  Bond trade at 43.04% yield shows investors are on edge in India

  Bloomberg Two Indian corporate bonds changed hands at yields of more than 40%, underscoring risks from a shadow banking crisis that’s spilling over into the economy and the rest of the credit market. Indiabulls Housing Finance Ltd’s September 2021 rupee note traded at a record 43.04% while Vodafone Idea’s January 2022 bond traded at 42.91%, exchange data show. Indiabulls’ bond ...

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• 20 October

  India to build 30 GW of renewable energy plants along western border

  

  Bloomberg India is considering building 30 gigawatts of renewable energy capacity along a desert on its western border known for its sunny, windy and arid expanse, according to people familiar with the plan. The projects, which will be spread across the states of Gujarat and Rajasthan, are part of efforts to expand the country’s renewable capacity and reduce the share ...

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• 20 October

  S Korea growth may miss government’s 2.4% target

  Bloomberg South Korea’s economic growth may miss the government’s target of 2.4% to 2.5% this year, Yonhap News Agency reported, citing the finance minister. Growth is more likely to meet the projections of International Monetary Fund and the Organization for Economic Cooperation & Development, the news agency cited Hong Nam-ki as saying in Washington, where the Group of 20 nations’ ...

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• 20 October

  Beijing calls for tech collaboration while criticising US action

  

  Bloomberg A senior Chinese official called for governments around the world to work more closely together to regulate emerging technologies, while taking a veiled swipe at the US for undermining collaboration. “The foundation for an open and shared-by-all internet is unstable,” Huang Kunming, a member of the Politburo, which is comprised of China’s 25 most-senior officials, said at a technology ...

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• 20 October

  Work on Abu Dhabi’s $1.2bn mall reaches its highest point

  

  ABU DHABI / WAM Reem Mall, the world’s first fully digitally enabled smart shopping mall, was officially topped out this week after construction reached the highest point for the new mall structure. The topping out at the AED4.4 billion Reem Mall ($1.2bn) was marked by key project representatives from Al Farwaniya Property Developments including Faisal Sultan, Chairman, David Boesley, Executive ...

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• 20 October

  UAE continues its support to displaced people in Dhale, Yemen

  

  DHALE / WAM The Emirates Red Crescent (ERC), distributed food baskets to 400 displaced families returning to their liberated villages in the Qa’tabah district of Dhale governorate, Yemen, as part of a series of humanitarian campaigns to support Yemenis overcome adversity. So far, the UAE provided more than 27,000 food baskets to nearly 190,000 people in Dhale, in addition to ...

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• 20 October

  Dubai set to host annual construction summit

  

  Dubai / Emirates Business The 5th Annual Construction Summit is set to take place on October 23 at The Westin Mina Seyahi Beach Resort & Marina, Dubai. His Excellency Hussain Almahmoudi, CEO of Sharjah Research Technology & Innovation Park to deliver a keynote speech at the summit. The guests will be welcomed by Paul Wallett, Regional Director, Trimble Solutions Middle ...

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