October, 2019

• 22 October

  Oil jumps most on report Opec, allies to discuss deepening cuts

  

  Bloomberg Oil jumped the most in more than a week after a report that Organisation of Petroleum Exporting Countries (Opec) and allied crude producers will discuss deepening supply cuts next month. Futures climbed more than 2% in London and New York on Tuesday. Members of the Opec are concerned about the outlook for demand next year, Reuters reported, citing unnamed ...

  Read More »
• 22 October

  Abu Dhabi launches ‘Tamm Care for key investors’ service

  

  Abu Dhabi / Emirates Business The Abu Dhabi Digital Authority (ADDA), the lead Abu Dhabi government entity spearheading the emirate’s digital transformation agenda, has announced the launch of its new service, the ‘TAMM Care for key investors,’ which is part of the integrated services platform, ‘TAMM.’ The new service has been specially created to reach out to the key investors ...

  Read More »
• 22 October

  Etihad, Saudia announce 12 new codeshare routes

  

  Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, and Saudia, the national flag carrier of the Kingdom of Saudi Arabia, have marked the first anniversary of their commercial partnership by announcing 12 new codeshare routes to key destinations in Asia and Europe. Since signing their agreement in October, 2018, the two airlines have ...

  Read More »
• 22 October

  Ducab-Etihad Esco deal to save 3.25m KWh energy

  

  DUBAI / WAM Etihad Energy Service Company (Etihad Esco), announced the signing of an agreement with Ducab, one of the UAE’s largest manufacturing businesses, on the sidelines of the 21st Water, Energy, Technology and Environment Exhibition (Wetex), with an aim to support the UAE’s solar energy sector’s growth. The new contract will see Ducab supply its SolarBICC cables – specially designed ...

  Read More »
• 22 October

  UAE to participate in ‘One Young World summit 2019’ in UK

  Abu Dhabi / WAM A UAE delegation will participate in the ‘One Young World Summit 2019’, in London, UK, which will convene the brightest young talent from more than 190 countries, untill October 25. The participation is in line with the UAE’s strategy to empower young people and provide them with an opportunity to contribute to the national development process. ...

  Read More »
• 22 October

  RBC cracks Wall Street’s top 10 list for advising on M&A deals

  

  Bloomberg Royal Bank of Canada (RBC) set a goal nine years ago to become a Top 10 investment bank in the US — but cracking Wall Street’s upper echelons for advising on takeovers had proved elusive. Until now. RBC Capital Markets has risen to the No. 10 ranking for advising on announced US mergers and acquisitions this year, its highest ...

  Read More »
• 22 October

  US bank cuts branch staff in digital push

  

  Bloomberg US Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision. The cuts will be in the low thousands, the person said, asking not to be identified because the number isn’t public. In a memo seen by Bloomberg, Chief Executive Officer Andy Cecere said US Bancorp “made ...

  Read More »
• 22 October

  Axis Bank posts surprise loss as tax expense surges

  

  Bloomberg Axis Bank Ltd posted an unexpected quarterly loss due to a one-time income tax adjustment. It reported a loss of 1.12 billion rupees ($16 million) in the three months ended on September 30, down from a profit of 7.9 billion rupees a year earlier and compared with a 9.05 billion rupees average of analyst estimates compiled by Bloomberg. The ...

  Read More »
• 22 October

  Visa, Mastercard making mobile shopping easier

  

  Bloomberg Smartphones have made taking a photo and checking fantasy football scores a breeze, but inputting credit card details on that small screen can still be frustrating enough that many shoppers just give up, costing retailers billions. Now, the world’s biggest card networks — a group that includes Visa, Mastercard, American Express and Discover Financial Services — have joined forces ...

  Read More »
• 22 October

  Lagarde or not, women still face bias in economics

  Bloomberg Hostility and discrimination await women daring to encroach upon the male-dominated world of economics and central banking, according to papers presented at a European Central Bank conference. The research shows that the much-celebrated rise of Christine Lagarde — a lawyer and politician, not an economist or central banker — to become the ECB’s first-ever female president is atypical for ...

  Read More »