October, 2019

• 20 October

  First Tesla car-share operation in region comes to Abu Dhabi

  

  ABU DHABI / WAM The UAE-founded ‘ekar’ has announced a partnership with Masdar to bring electric vehicle car-sharing to the Middle East by purchasing five Tesla models S and X for its fleet, with the vehicles available for hire from Masdar City in Abu Dhabi. “Masdar City installed first rapid charging station for electric vehicles in the Mideast,” said Yousef ...

  Read More »
• 20 October

  Kuwait sees neutral zone oil pact with Saudis soon

  

  Bloomberg Kuwait expects to sign an agreement with Saudi Arabia to restart oil production from the neutral zone along their border within 30 to 45 days, according to a person familiar with the matter. The pact, reached after months of intensive negotiations, won’t be final until it’s signed, the person said, asking not to be identified as the talks are ...

  Read More »
• 20 October

  ‘UAE’s aviation sector open to global investors’

  

  Dubai / Emirates Business Investors are keen to capitalise on the increasing opportunities in the aviation sector globally, according to industry experts. “Over the past decade, as the global economy has improved, airlines have grown in profitability, matured in terms of employing better capacity management and cost controls, and have benefitted from the explosion in demand for passenger air travel,” ...

  Read More »
• 20 October

  Saudi stocks lead Gulf gains after Aramco IPO delayed

  

  Bloomberg Saudi Arabian stocks rose the most in the Gulf as the country’s oil giant delayed a long-awaited initial public offering (IPO), easing a sell-off of other stocks intended to fund purchases in the share sale. The Tadawul All Share Index climbed as much as 2.3%, recovering from a loss of 0.8% last week and trimming losses in October to ...

  Read More »
• 20 October

  Global finance chiefs pledge to use all tools to aid growth

  

  Bloomberg Global finance ministers and central bankers pledged to use all their tools, including fiscal policy, to support demand amid a “highly uncertain” outlook and elevated risks. “The outlook is highly uncertain and subject to elevated downside risks,” including trade tensions, policy uncertainty and geopolitical risks, according to a communique issued by the International Monetary and Financial Committee (IMFC), the ...

  Read More »
• 20 October

  HSBC mulls equity pullback in London, New York, Germany

  

  Bloomberg HSBC Holdings Plc may partially exit stock trading in some developed Western markets as part of a cost-cutting drive by Noel Quinn, the interim chief executive who wants the top job on a permanent basis. Equities sales and trading units in France, Germany, US and the UK are likely to be scaled back, according to people familiar with the ...

  Read More »
• 20 October

  Japan’s fiscal stimulus options if needed: Aso

  

  Bloomberg Japan has various ways to deploy fiscal stimulus if economic conditions warrant such action, according to Finance Minister Taro Aso. The nation’s economic fundamentals remain stable for now, but the government continues to use fiscal stimulus in a nimble manner, Aso said at a press conference in Washington, where the Group of 20 nations’ finance ministers and central bank ...

  Read More »
• 20 October

  Dollar’s longest slump since January may deepen: Scotiabank

  

  Bloomberg The dollar’s three-week slump may turn into further weakness through early next year, as potential progress on US-China trade talks and Brexit along with softer domestic economic data undermine the currency’s haven status, said Scotiabank’s Shaun Osborne. The Bloomberg Dollar Spot Index is down about 2% from a two-year high on October 01, amid its longest weekly losing streak ...

  Read More »
• 20 October

  PBOC governor says yuan level ‘appropriate’ after weakening

  

  Bloomberg People’s Bank of China (PBOC) Governor Yi Gang said the yuan is at an “appropriate level” and cross-border capital flows have stayed balanced since the currency weakened past 7 per dollar in early August. “Depreciation since the beginning of August has been driven and determined by market forces and reflects shifts in market dynamics,” and the currency has been ...

  Read More »
• 20 October

  Mongolia now on anti-money laundering watchlist

  Bloomberg Mongolia has been included on a list of countries monitored by an international agency that polices anti-money laundering activities and terrorism financing. Joining Mongolia as additions on the Financial Action Task Force’s watch list were Iceland and Zimbabwe, according to a FATF statement released by email from Paris. “Each jurisdiction has developed an action plan with the FATF to ...

  Read More »