October, 2019

• 8 October

  UAE’s best practices, governance models explored

  ABU DHABI / WAM Government delegations from Egypt, Jordan and Uzbekistan explored the UAE’s successful experiences and governance models through official visits, as part of relevant strategic partnership agreements related to government modernisation. The visits aim to reinforce related partnerships and exchange knowledge and success stories, as well as present development ideas and visions for improving government work and supporting ...

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• 8 October

  FANR keen to reinforce UAE’s response to N-emergencies

  

  Abu Dhabi / WAM The Federal Authority for Nuclear Regulation (FANR), is keen to coordinate with the National Emergency and Crisis and Disasters Management Authority (NCEMA), to reinforce the country’s response to radiation or nuclear emergencies. According to its annual report, FANR conducted around 15 training sessions and related exercises to ensure its readiness to handle radiation and nuclear emergencies, including ...

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• 8 October

  SoftBank damage from Uber, WeWork may exceed $5bn

  

  Bloomberg Masayoshi Son’s startups have had a rough few months, from a botched initial public offering by WeWork to a sharp decline in shares of Uber Technologies Inc. Now analysts are beginning to calculate that the damage for Son’s SoftBank Group will likely reach into the billions of dollars. Mitsubishi UFJ Morgan Stanley Securities Co cut its profit estimate for ...

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• 8 October

  Samsung heir Lee to give up board seat before bribery probe

  

  Bloomberg Samsung Electronics Co’s de facto leader, Lee jae-yong, plans to give up his board seat after his directorship expires late October as he prepares for another trial over alleged bribery, a person familiar with the matter said. The billionaire heir won’t seek to extend his three-year term on the board of the tech behemoth when it ends on October ...

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• 8 October

  Amazon, Google face tax test as Indonesia reins in e-comm

  

  Bloomberg Traditional members of Indonesia’s Baduy tribe shun footwear and live in woven bamboo houses without electricity, harvesting honey from natural beehives and weaving intricate traditional fabrics by hand. Some younger members then sell the stuff on Instagram. “My wife weaves the fabric, while the honey bottles are supplied by friends,” said Danif, 27, who goes outside the tribal area ...

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• 8 October

  Nissan names Makoto Uchida as new CEO

  

  Bloomberg Nissan Motor Co named the head of its China joint venture as chief executive officer, as the struggling Japanese carmaker seeks to heal deep divisions caused by the arrest of its former chairman and repair fraught relations with partner Renault SA. Makoto Uchida, 53, will work alongside Ashwani Gupta from affiliate Mitsubishi Motors Corp, who was named chief operating ...

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• 8 October

  Oil falls on US-China tensions

  

  Bloomberg Oil fell again, erasing earlier gains, as economic tensions between the US and China flared ahead of talks aimed at resolving their long-running trade feud. Futures in New York slipped as much as 1.7% following news that the White House is considering plans to potentially limit capital flows into China, while Beijing signaled it would retaliate after the Trump ...

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• 8 October

  PG&E warns of huge power shutoff in Calif

  Bloomberg Bankrupt utility owner PG&E Corp. issued an unprecedented warning that it may cut power in almost 30 California counties to avoid wildfires as hot, arid winds leave region dry as a tinderbox. The move may affect more than 600,000 customers across Northern and Central California, including Santa Clara, San Mateo, Napa and Alameda counties, according to a statement on ...

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• 8 October

  ‘Cuts to no-deal Brexit tariffs don’t go far’

  

  Bloomberg Road hauliers said the UK government’s decision to reduce the tariffs it plans to impose on imported trucks following a no-deal Brexit doesn’t go far enough. On Tuesday, the Department for International Trade said it will impose a 10% levy on imported heavy goods vehicles instead of the 22% it had initially planned. The announcement came as part of ...

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• 8 October

  Factories feed unexpected rise in industrial output in Germany

  

  Bloomberg A jump in manufacturing fuelled a surprise improvement in German industrial production following two months of decline. While good news, the development will do little to alleviate concerns about intensifying trade tensions and waning business confidence. Output rose 0.3% from July, despite a big drop in energy, compared with economist estimates for no change. Investment and basic goods production ...

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