October, 2019

• 12 October

  ‘Putin’s visit consolidates UAE-Russia partnership’

  

  Abu Dhabi / WAM The visit of Russian President Vladimir Putin to the UAE this Tuesday translates the privileged and steadily growing strategic relations between the two countries, said Maadhad Hareb Al Khaili, the UAE Ambassador to Russia. “The visit will contribute to further consolidating the current strategic partnership between the two sides,” the diplomat told the Emirates News Agency ...

  Read More »
• 12 October

  Abu Dhabi Airports, Beijing’s Daxing Airport to exchange best practices

  

  BEIJING / WAM A newly-signed agreement between Abu Dhabi Airports and Beijing Daxing International Airport (BDIA), will see the two sides share best practices and collaborate to enhance their airport operations. The Memorandum of Understanding (MoU), was inked at the BDIA Management Centre in Beijing, China, in the presence of Sheikh Mohammad bin Hamad bin Tahnoon Al Nahyan, Chairman of ...

  Read More »
• 12 October

  China’s Xi, Modi agree on new trade mechanism

  

  Bloomberg Chinese President Xi Jinping and Indian Prime Minister Narendra Modi agreed to set up a new mechanism to discuss trade during two days of informal talks in southern India that were aimed at re-calibrating strained ties between the nations. India raised its concerns about the China-led Regional Comprehensive Economic Partnership (RCEP), Indian foreign secretary Vijay Gokhale told reporters on ...

  Read More »
• 12 October

  Absa plans China office to boost investment banking expansion

  

  Bloomberg Absa Group Ltd’s corporate and investment banking unit plans to open an office in China as part of an expansion that will also target other parts of Asia and the Middle East. “Next year, we will be seeking strategic approval from our board for an on-the-ground presence in China,” Charles Russon, the division’s chief executive officer, said in an ...

  Read More »
• 12 October

  RBS, Lloyds soar on signs of Brexit deal

  

  Bloomberg British bank shares jumped amid optimism that a UK deal to leave the European Union would support domestic lenders. Royal Bank of Scotland Group Plc rose as much as 16.4% on October 11, the biggest intraday rise since May 2010, and Lloyds Banking Group Plc gained as much as 12.5%, its largest increase since February 2016. Bonds of both ...

  Read More »
• 12 October

  Indiabulls plunges after RBI rejects bank merger plans

  

  Bloomberg Shares of an Indian shadow lender plunged after the Reserve Bank of India rebuffed its plan to merge with a bank, blocking a path that may have helped other struggling non-bank financiers get better access to liquidity. Indiabulls Housing Finance Ltd plunged 19% to the lowest since March 5, 2014, in Mumbai after the plan to combine with Lakshmi ...

  Read More »
• 12 October

  TPG’s Shriram Capital stake sale stalls

  

  Bloomberg TPG Capital has paused a sale of its stake in privately-held Indian financier Shriram Capital as the country’s lingering shadow banking crisis hurts valuations, according to people with knowledge of the matter. The private equity’s plan to sell its 10% stake has been held back, and will likely resume only as soon as the next financial year starting in ...

  Read More »
• 12 October

  Mexico regulator says banks manipulated ‘market’

  

  Bloomberg Mexico’s antitrust regulator notified top banks that its investigator found probable evidence of cartel-like practices to manipulate government bond prices, according to people with knowledge of the matter. At least one bank received in-person notification that the regulator, known as Cofece, would try the case, said the people, who requested anonymity because the matter is private. Seven financial institutions ...

  Read More »
• 12 October

  HK crisis is creating opportunity for the investors: Julius Baer

  Bloomberg Julius Baer is recommending Hong Kong’s battered stock market as investor appetite fades after five months of protests, saying “times of crisis” are usually an opportunity to invest. The city’s stocks have appeal as valuations are suppressed and dividend payouts exceed the yields on government bonds by near the most on record, said Yves Bonzon, chief investment officer at ...

  Read More »
• 12 October

  HK protesters block road, fire-bomb station

  

  Bloomberg Hundreds of Hong Kong protesters barricaded a main road in Kowloon and lobbed petrol bombs at a train station on the 19th weekend of violent unrest in the city. While protesters had a full schedule of events planned for the weekend, some demonstrators have been debating whether to soften their tactics to avoid alienating more moderate supporters. Saturday’s march ...

  Read More »