October, 2019

• 13 October

  Hugo Boss plunges to 9-year low as turnaround unravels

  

  Bloomberg Hugo Boss AG plunged to a nine-year low after the German suitmaker cut its full-year outlook on weakness in the US and Hong Kong, casting doubt on CEO Mark Langer’s turnaround efforts. The guidance reduction comes two months after the suitmaker previously lowered its outlook, citing weak sales to tourists and pricing pressure in the US Now the anti-Beijing ...

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• 12 October

  Astronaut Hazza Al Mansoori receives hero’s welcome in UAE

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday welcomed Hazza Al Mansoori, the UAE’s first astronaut, as he returned to the UAE after eight days in space. Al Mansoori, accompanied by backup astronaut, Sultan Al Neyadi, landed at the Presidential ...

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• 12 October

  Trump says China to boost farm spending up to $50b

  

  Bloomberg China will at least double its spending on US agriculture as part of a partial trade accord between the two countries that’s likely to be well received by crop traders when markets reopen. Under terms of the arrangement, spending will scale to an annual figure of $40 billion to $50 billion over two years, Treasury Secretary Steven Mnuchin said. ...

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• 12 October

  Saudi affirms commitment to maritime navigation security

  RIYADH / WAM An official spokesman for the Saudi General Directorate of Border Guards said that at 11:47 pm on Friday, an e-mail was received from Jeddah Radio containing a letter from the captain of Iranian vessel (Sabiti), reporting that the front of the vessel has been broken, resulting in an oil spill in the sea from the cargo and tanks ...

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• 12 October

  ‘Putin’s visit consolidates UAE-Russia partnership’

  

  Abu Dhabi / WAM The visit of Russian President Vladimir Putin to the UAE this Tuesday translates the privileged and steadily growing strategic relations between the two countries, said Maadhad Hareb Al Khaili, the UAE Ambassador to Russia. “The visit will contribute to further consolidating the current strategic partnership between the two sides,” the diplomat told the Emirates News Agency ...

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• 12 October

  Abu Dhabi Airports, Beijing’s Daxing Airport to exchange best practices

  

  BEIJING / WAM A newly-signed agreement between Abu Dhabi Airports and Beijing Daxing International Airport (BDIA), will see the two sides share best practices and collaborate to enhance their airport operations. The Memorandum of Understanding (MoU), was inked at the BDIA Management Centre in Beijing, China, in the presence of Sheikh Mohammad bin Hamad bin Tahnoon Al Nahyan, Chairman of ...

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• 12 October

  China’s Xi, Modi agree on new trade mechanism

  

  Bloomberg Chinese President Xi Jinping and Indian Prime Minister Narendra Modi agreed to set up a new mechanism to discuss trade during two days of informal talks in southern India that were aimed at re-calibrating strained ties between the nations. India raised its concerns about the China-led Regional Comprehensive Economic Partnership (RCEP), Indian foreign secretary Vijay Gokhale told reporters on ...

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• 12 October

  Absa plans China office to boost investment banking expansion

  

  Bloomberg Absa Group Ltd’s corporate and investment banking unit plans to open an office in China as part of an expansion that will also target other parts of Asia and the Middle East. “Next year, we will be seeking strategic approval from our board for an on-the-ground presence in China,” Charles Russon, the division’s chief executive officer, said in an ...

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• 12 October

  RBS, Lloyds soar on signs of Brexit deal

  

  Bloomberg British bank shares jumped amid optimism that a UK deal to leave the European Union would support domestic lenders. Royal Bank of Scotland Group Plc rose as much as 16.4% on October 11, the biggest intraday rise since May 2010, and Lloyds Banking Group Plc gained as much as 12.5%, its largest increase since February 2016. Bonds of both ...

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• 12 October

  Indiabulls plunges after RBI rejects bank merger plans

  

  Bloomberg Shares of an Indian shadow lender plunged after the Reserve Bank of India rebuffed its plan to merge with a bank, blocking a path that may have helped other struggling non-bank financiers get better access to liquidity. Indiabulls Housing Finance Ltd plunged 19% to the lowest since March 5, 2014, in Mumbai after the plan to combine with Lakshmi ...

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