September, 2019

• 23 September

  China internet plays adjust to a post-growth world

  A sharp rebound in Chinese internet stocks over the past six weeks would have you believe that companies just turned in another quarter of stellar growth. Instead, what they did was to deliver the spending pragmatism that shows management understands the new era that’s upon us. Revenue for a basket of Chinese companies – from Alibaba Group Holding Ltd. to ...

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• 23 September

  Standardised labelling may reduce food waste

  Many efforts to minimise climate change are far removed from people’s everyday lives. It’s the responsibility of unseen others to reduce power-plant emissions or regrow carbon-absorbing forests. But there is one significant way almost everyone can help, and that is by wasting less food. Americans in particular consume only about half as much of what’s in their refrigerators as they ...

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• 23 September

  Germany’s green new deal doesn’t do much for climate

  

  The German government’s 54 billion-euro ($60 billion) climate deal, approved after about 20 hours of overnight negotiations, is a typical product of the reluctant coalition run by Chancellor Angela Merkel: It achieves a balance of interests and little more. If German voters want a more ambitious plan, and there are indications that they do, they’ll have to wait until after ...

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• 23 September

  This UK firm doesn’t fear a hard Brexit

  

  As Britain appears to be careering towards a no-deal Brexit, Next Plc Chief Executive Simon Wolfson is trying to reassure investors that the company should come out largely unscathed. That sounds overly optimistic, but Next has less to fear than most retailers. Wolfson, a Conservative Party peer and well-known Brexit supporter, says that as long as Britain’s ports operate effectively, ...

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• 23 September

  Goldman shows bright future for banks, if not for bankers

  

  The continuing debate about the future of banking since the 2008 financial crisis has intensified recently on reports that banks are cutting jobs and slashing pay. While the outlook for bankers is precarious, the same can’t be said for the banks. Goldman Sachs Group Inc. has featured prominently in the chatter about cutbacks, and not just because of its pre-eminence ...

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• 23 September

  Gloomy European data hits stocks as bonds advance

  

  Bloomberg US equity futures fluctuated and European stocks retreated as disappointing data in the euro area overshadowed easing concern about trade relations between America and China. Treasuries rose and the common currency slid. Manufacturing and services numbers for the euro zone came in far short of estimates on Monday, with disappointing readings from countries including Germany and France. The Stoxx ...

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• 23 September

  Indian stocks rise again on corporate tax cut boost

  

  Bloomberg Indian stocks rose for a second day on expectations that the government’s surprise $20 billion company tax cut will revive economic growth and boost company earnings. The S&P BSE Sensex jumped 2.8 percent to 39,909.03 in Mumbai, while the NSE Nifty 50 Index advanced 2.9 percent. Both gauges surged 5.3 percent, marking their biggest gain since May 2009, after ...

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• 22 September

  UAE provides relief to survivors of Houthi shelling in Hais, Yemen

  

  HODEIDAH / WAM Through its humanitarian arm, the Emirates Red Crescent (ERC), the UAE provided relief aid to Yemenis who survived the Houthi militias artillery shelling in Hais, southern Hodeidah, west of Yemen. A team from the ERC distributed shelter aid and food baskets to the families in Hais, following an appeal from the local authorities. The families who benefitted ...

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• 22 September

  UAE government spending rises to AED119 billion in Q1

  ABU DHABI / WAM The UAE consolidated government expenditure rose AED119 billion during Q1 2019, a growth of 21.6% as compared with the same period in 2018, according to figures released by the Central Bank of the UAE (CBUAE). In its quarterly review, CBUAE said, UAE government expenses went up y-o-y by 16.3% during Q1. Moreover, capital spending, measured by ...

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• 22 September

  UAE-Saudi non-oil trade hits AED417.6b in 5 yrs

  

  ABU DHABI / WAM Non-oil trade exchange between the United Arab Emirates and the Kingdom of Saudi Arabia has reached AED417.6 billion over the past five years, Sultan bin Saeed Al Mansouri, Minister of Economy, has stated. Non-oil exchange between the two countries reached AED107.4 billion in 2018, a surge of 35% over 2017, reflecting the strength of the strategic ...

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