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Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday learned about the progress of the Youth Empowerment Strategy, which is aimed to ...
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October, 2019
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27 October
FANR board reviews Barakah nuclear power plant progress
Abu Dhabi / WAM The Board of Management of the Federal Authority for Nuclear Regulation (FANR), convened its meeting at the site of the Barakah Nuclear Power Plant where it reviewed the progress of its operational activities and discussed a number of initiatives planned during this year. The Board learned about the latest updates of the FANR ongoing review of ...
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27 October
Tadweer signs pact on zero waste management
Abu Dhabi / Emirates Business Abu Dhabi Waste Management Center (Tadweer) has signed Memorandum of Understanding (MoU) with Green Business Certification Inc to collaborate in the field of zero waste management. The MoU was signed by Dr Salem Khalfan Al Kaabi, General Manager of Tadweer and Mahesh Ramanujam, President & CEO of Green Business Certification Inc. Aligned with Tadweer’s objective ...
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27 October
China’s ICBC sees profit surge 5.8% amid slowing economy
Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd, the world’s largest lender by assets, posted a 5.8% increase in third-quarter profit amid a deepening economic slowdown. Net income for the three months through September rose to 83.8 billion yuan ($11.8 billion) from 79.2 billion yuan a year earlier, the Beijing-based lender said in a filing. ICBC led the nation’s ...
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27 October
Nigeria’s Access Bank to buy Kenyan lender
Bloomberg The Competition Authority of Kenya gave Nigeria’s biggest lender the go-ahead to acquire 93.57% of Transnational Bank Ltd, as consolidation in the East African nation’s banking industry gathers pace. Access Bank Plc’s purchase follows the merger of NIC Group Plc and Commercial Bank of Africa Ltd, and KCB Group Ltd’s acquisition of National Bank of Kenya Ltd earlier this ...
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27 October
UBS ‘job cuts’ reach Europe as two dozen gone
Bloomberg UBS Group AG has cut about two dozen jobs in Europe over the last two weeks as Chief Executive Officer Sergio Ermotti restructures the investment bank after a poor performance this year. At least 10 of the cuts came at the equities trading division, people familiar with the matter said. Five positions were eliminated in Zurich, including three managing ...
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27 October
India’s SBI profit beats estimates on bad loans
Bloomberg State Bank of India (SBI) Ltd posted a bigger-than-expected profit in the fiscal second quarter as asset quality improved. Shares jumped. Net income more than tripled to 30.1 billion rupees ($424 million) for the three months ended on September 30 from 9.4 billion rupees a year earlier, India’s largest lender said. Analysts had expected a profit of 22.9 billion ...
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27 October
Chinese official touts blockchain after Xi praises technology
Bloomberg A senior Chinese foreign-exchange regulatory official called for “special attention†to be paid to blockchain as the nation looks to gain advantages from digital finance. The State Administration of Foreign Exchange is looking to use blockchain and artificial intelligence in cross-border trade finance and macro-prudential regulation, Lu Lei, deputy director of the regulator, said at the Bund Summit in ...
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27 October
World’s most expensive bank cuts back on water to trim costs
Bloomberg Weeks after Armand Wahyudi Hartono became the vice president director of Indonesia’s largest non-state bank, he noticed how staff were leaving half-empty glasses of water after work. The next morning, he restricted the amount of drinking water available at PT Bank Central Asia’s (BCA) headquarters. Such stringent cost control is just an example of how the lender has managed ...
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27 October
PG&E plunges 2.8 million Californians into darkness
Bloomberg PG&E Corp cut power to more than 2.5 million Californians in the state’s largest deliberate blackout ever. As of midnight local time, the bankrupt utility giant had shut off the lights to 877,000 homes and businesses in 38 counties across Northern and Central California, including parts of Oakland and Berkeley, but sparing the city of San Francisco, as it ...
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