October, 2019

• 28 October

  US futures advance as Fed meeting nears; bonds slide

  

  Bloomberg US index futures climbed while stocks in Europe struggled for traction at the start of a week in which big corporate earnings continue to roll in and the Federal Reserve is expected to cut interest rates. Treasuries dropped, pushing the 10-year yield to a six-week high. Contracts on the S&P 500 edged higher after the underlying gauge climbed near ...

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• 28 October

  Argentina tightens currency controls after Fernandez wins

  

  Bloomberg Argentina tightened currency controls after the opposition’s Alberto Fernandez won the presidential elections. The central bank will restrict dollar purchases by savers to buy just $200 per month compared with the $10,000 per month previously, according to a central bank statement. The move looks to preserve international reserves during the political transition which will culminate in the handover on ...

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• 28 October

  Retailers stockpile in face of Brexit uncertainty: CBI

  Bloomberg UK retailers built up stocks by the most since the 1980s in anticipation of leaving the European Union at the end of the month, a report from the Confederation of British Industry (CBI) showed. The proximity to Christmas and ongoing Brexit uncertainty are the main drivers, the CBI said. Retail sales volumes and orders fell in the year to ...

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• 27 October

  Dewa to supply 100% renewable energy at Expo 2020: Al Tayer

  

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), confirmed that the energy used during Expo 2020 Dubai will be 100 percent generated from renewable sources. Dewa, which is building smart grids for the generation, transmission, and distribution systems to Expo 2020, has implemented a number of mega projects, including providing Expo 2020 with 422MW of renewable energy from the ...

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• 27 October

  World ‘awash’ in oil as US sees its shale boom barrelling ahead

  

  Bloomberg Global markets are “awash” in crude thanks to the surge in US oil output, and the boom looks set to continue, US Energy Secretary Rick Perry said in a Bloomberg TV interview. US shale production has turned the world “on its head,” and Goldman Sachs Group Inc. is “off a bit” in a report last week saying that the ...

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• 27 October

  ADCB to exit operations in Qatar, Kuwait

  Bloomberg Abu Dhabi Commercial Bank (ADCB), which completed a three-way merger in May, plans to exit its operations in Qatar and Kuwait to focus on its home market. The lender initiated the process of closing operations in both the countries and have informed the authorities, according to a statement. The move comes after the bank sold the majority of its ...

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• 27 October

  India’s RBI denies reports of selling gold from reserves

  

  Bloomberg India’s central bank hasn’t sold any gold recently nor is trading in the metal, the monetary authority said in a tweet on Sunday. Reports have appeared in certain sections of media that RBI has been selling or trading in gold of late. It is clarified that RBI has not sold any gold or trading in it. The Economic Times ...

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• 27 October

  UAE has potential to double exports to Africa: Report

  

  Dubai / Emirates Business There is tremendous potential for the UAE to double its exports to African countries with plastics, rubber and sugar identified as the top products offering the most untapped export potential estimated at $867.9 million, $457.9 million and $291.7 million, respectively in 2017. The analysis, based on recent data from the International Trade Center (ITC), relies on ...

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• 27 October

  Empower awards AED197m contract for new plant

  DUBAI / Emirates Business Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced the start of construction work for its new plant in Dubai Production City, worth AED 197 million. The project will be implemented in two phases, with the first phase is expected to be complete by the end of 2020. Empower highlighted that ...

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• 27 October

  UAE delivers food aid to Hodeidah

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), has delivered food assistance to the people of Al-Khokha city in Hodeidah Governorate as part of the UAE’s commitment to stand by needy and impoverished Yemenis in the eight governorates liberated so far on the Red Sea coast, starting from Bab-el-Mandeb strait, and Taiz, going all the way down to the ...

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