October, 2019

• 15 October

  SCA seeks feedback on draft crypto assets rule by October 29

  

  ABU DHABI / WAM The Securities and Commodities Authority (SCA), posted draft regulations concerning crypto assets on its website, in line with its efforts to regulate and develop capital markets operating in the UAE. In a statement, the Authority urged all relevant parties including investors, brokers, financial analysts, researchers, media personnel, and others to provide their feedback and input on ...

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• 15 October

  Adnoc awards Lukoil 5% stake in gas concession

  

  Abu Dhabi / WAM The Abu Dhabi Government and the Abu Dhabi National Oil Company (Adnoc), awarded to a subsidiary of the Russian listed PJSC Lukoil Oil Company (Lukoil), a five percent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma and other offshore sour gas fields in the Emirate of Abu Dhabi. At the same time, Adnoc, ...

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• 15 October

  UAE’s 10-year strategy to attract investments in space sector

  

  ABU DHABI / WAM The UAE Space Agency (UAESA), announced the details of its National Space Strategy 2030 and National Space Investment Plan, complementing the regulatory and legislative framework of the UAE’s national space sector and in line with the strategic objectives of the Agency. The announcement was made during an official ceremony held in the UAE capital, Abu Dhabi. ...

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• 15 October

  Abu Dhabi, Russia explores energy sector cooperation

  

  ABU DHABI / WAM The Abu Dhabi Department of Energy (DoE), sought out cooperation opportunities with Russia’s Ministry of Energy in the conventional and renewable energy sectors. The Chairman of the Abu Dhabi DoE, Awaidha Murshed Al Marar, met with Russian Minister of Energy, Alexander Valentinovich Novak, to discuss opportunities for collaboration on the sidelines of Russian President Vladimir Putin’s visit ...

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• 15 October

  Assad seizing key border town as US forces leave

  

  Bloomberg Forces loyal to Syrian President Bashar al-Assad took control of the strategic town of Manbij near the Turkish border amid growing pressure on Ankara to end an offensive that has drawn US and European sanctions and accusations of war crimes. In its strongest comments yet, Russia said the offensive was “unacceptable” and it was opposed to the presence of ...

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• 15 October

  Citi to set up wholly-owned securities business in China

  

  Bloomberg Citigroup Inc, which is dissolving its investment-banking joint venture in China, is now planning to set up a wholly- owned securities business in the world’s second-largest capital market, according to people with knowledge of the matter. The New York-based bank may initially focus on brokerage and futures trading while expanding its custodian services in China, the people said, asking ...

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• 15 October

  JPMorgan posts surprise increase in banking fees

  

  Bloomberg JPMorgan Chase & Co’s traders and investment bankers emerged from a messy third quarter with a few surprise wins. Fixed-income trading jumped 25% and investment-banking fees posted an unexpected increase, the company said on Tuesday in a statement. That led the corporate and investment bank division to its best third quarter in three years. JPMorgan seized on some late-quarter ...

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• 15 October

  Bank of Korea expected to cut rates

  

  Bloomberg South Korea’s first-ever drop in consumer prices and a relentless decline in exports are adding to the case for the central bank to cut interest rates on Wednesday. The Bank of Korea (BOK), which lowered its key rate in July and left it unchanged in August, will reduce the seven-day repurchase rate by 25 basis points to 1.25%, matching ...

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• 15 October

  BOE’s Carney defends Facebook’s Libra concept

  

  Bloomberg Bank of England (BOE) Governor Mark Carney has defended the concept behind new crypto currencies like the Facebook Inc-led Libra. Asked by lawmakers in London on Tuesday why firms like the social media company should be getting involved in such projects given the associated risks, Carney pointed to the shortcomings of existing payments systems. He said the high costs ...

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• 15 October

  Wirecard drops on ‘accounting misdeeds’ report

  Bloomberg Wirecard AG fell the most since February in Frankfurt after a news report said it found repeated questionable accounting practices at the German payments firm. Wirecard fell as much as 23% in early trading after the Financial Times said it’s published internal company documents and correspondence that “appear to indicate a concerted effort to fraudulently inflate sales and profits” ...

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