September, 2019

• 30 September

  Trade woes outweigh festive cues for India

  

  Bloomberg India stocks declined as concerns over fresh US-China tensions over investment flows outweighed the festival season tailwind. The S&P BSE Sensex fell 0.4 percent to 3,8667.33 at the 3:30 pm close in Mumbai. The NSE Nifty 50 Index dropped 0.3 percent. Global risks ranging from trade friction to the recent oil shock have the potential to mitigate positive local ...

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• 30 September

  Time to switch from US to Euro-area stocks: JPMorgan

  Bloomberg There’s been a significant change of heart from JPMorgan equity strategists: US stocks are no longer preferred to Euro-area equities. “There is a tactical opportunity opening up for Euro zone to catch up,” strategists led by Mislav Matejka wrote in a note. The 20 percent underperformance of the region’s stocks in dollar terms over the past 18 months, combined ...

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• 29 September

  UAE approves raising general federal budget by 2% for 2020

  

  ABU DHABI / WAM The Financial and Economic Committee held its 40th meeting on Sunday at the Presidential Palace in Abu Dhabi. The meeting was chaired by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and was attended by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential ...

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• 29 September

  China vows two-way financial opening

  

  Bloomberg China said it would continue to open up its financial markets and encourage foreign investment amid reports the Trump administration is considering restrictions on fund flows to China. “We will take further steps to promote high quality two-way financial opening, encourage foreign financial institutions and funds to invest in domestic financial market, to boost competitiveness and dynamism of the ...

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• 29 September

  ERC offers 80 tonnes of food aid to Yemenis

  MUKALLA / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 80 tonnes of food and relief assistance to needy Yemeni families in eastern Mukalla, Hadramaut Governorate, as part of the UAE’s efforts to ease their suffering and improve their living conditions. ERC teams distributed 1,000 food baskets that benefitted 5,000 members of local families. The beneficiaries ...

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• 29 September

  Dubai FDI soars to AED46.6bn

  

  DUBAI / WAM The Emirate of Dubai has witnessed exceptional growth during the first half of 2019, with foreign direct investments (FDIs), reaching a record-breaking AED46.6 billion, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, announced on Sunday. This new record represents a growth of 135 percent compared to ...

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• 29 September

  Saudi weighs selling dollar sukuk by Oct

  

  Bloomberg Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to reports. The government is close to hiring banks for the possible sukuk sale. A sale would come just weeks after attacks on the kingdom’s oil facilities slashed Saudi Aramco’s crude output by ...

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• 29 September

  Cabinet adopts 10 resolutions on supporting Emiratisation

  

  Abu Dhabi / WAM The UAE Cabinet adopted ten strategic resolutions to support Emiratisation on Sunday during a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, at the Presidential Palace in Abu Dhabi. The new resolutions are part of the outcomes of the committee, chaired by H.H. Sheikh Mansour ...

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• 29 September

  Early voting for FNC elections on Oct 1

  

  Abu Dhabi / WAM Early voting for the Federal National Council (FNC), election 2019, will take place from 1st to 3rd October at nine national polling stations, according to the National Elections Committee (NEC). Voting will begin on the national election day on October 5 at 39 polling stations nationwide. The NEC stated that voters can cast their votes at ...

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• 29 September

  ERC launches new development projects in the Philippines

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), announced the launch of new development aid projects in the Philippines, with a focus on the education and water aid sectors. An ERC delegation, led by Hamoud Abdullah Al Junaibi, Deputy Secretary-General of the ERC Marketing and Donations Collection Division, inaugurated the “Attaya School” in Manila, which has eight classrooms for 500 ...

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