September, 2019

• 17 September

  UAE first in region to transition to internet protocol version 6

  

  Dubai / WAM The UAE ranked first in the Middle East in the transition to Internet Protocol Version 6, according to statistics from Ripe NCC, Akamai Technology and Google, less than two years after it has been launched in the country by the Telecommunications Regulatory Authority (TRA). The transition to IPv6 will have a significant positive impact on the implementation ...

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• 17 September

  Abu Dhabi’s inflation dips 0.8% in 8 months

  Abu Dhabi / WAM Data released by the Statistics Centre – Abu Dhabi, noted a 0.8% decrease in the Consumer Price Index for the period from January through August, reaching 111.1% compared to 111.9% in the comparable period of 2018. The monthly publication released by SCAD provides an analysis of the Emirate’s CPI with the base year being 2014. SCAD ...

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• 17 September

  UAE, Saudi discuss media cooperation

  

  Abu Dhabi / WAM The Joint Committee for Media Cooperation of the Saudi-Emirati Coordination Council held its first meeting in Abu Dhabi, under the chairmanship of Turki Al Shabana, Saudi Minister of Media, and Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the National Media Council. The meeting aimed at developing media strategies, joint plans ...

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• 17 September

  China’s economy slows again as trade war risks global slump

  

  Bloomberg China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4 percent from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5 percent in the first eight ...

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• 17 September

  India’s most valuable steel producer sees iron ore drop to $60

  

  Bloomberg JSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the Mumbai-based mill, said. The ...

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• 17 September

  Reliance Communications unit GCX files for bankruptcy in India

  

  Bloomberg A unit of Reliance Communications Ltd, Anil Ambani’s distressed telecom firm, has filed for bankruptcy protection. GCX Ltd, which owns the world’s largest private undersea cable system, is the latest company owned by the tycoon to stumble. The former billionaire’s Reliance Communications itself fell back into bankruptcy earlier this year. The move by subsidiary GCX comes after it missed ...

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• 17 September

  WTO gauge of services trade shows Q1 slump

  Bloomberg Global trade in services slowed during the first quarter of 2019, according to a new World Trade Organization (WTO) report. The report describes a “broad loss in momentum” among various services sectors like finance, technology, tourism and transportation. The index stood at 98.4, below the baseline of 100, “suggesting that services trade continued to face strong headwinds leading into ...

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• 17 September

  HK exchange LSE bid hit by China rebuff

  

  Bloomberg The Hong Kong bourse’s unsolicited takeover bid for the London Stock Exchange (LSE) Group Plc was greeted with a scathing rejection and the exchange suffered a further humiliation when China praised the rebuff as well. The official People’s Daily wrote that there are “persistent worries” about Hong Kong given the current unrest, and praised the LSE for citing its ...

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• 17 September

  Saudis tell Asian buyers they’ll still get contracted oil supply

  

  Bloomberg Saudi Aramco has told several major Asian buyers that it will supply customers with all contracted oil volumes in spite of the production cuts over the weekend, according to people with knowledge of the matter. The attack on the kingdom’s most important oil production facility halved Saudi output and is crimping the availability of lighter grades such as Arab ...

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• 17 September

  Russia’s main gas route to Europe seen at risk

  

  Bloomberg Russia may hesitate to strike a multiyear deal with the European Union and Ukraine on natural gas supplies after an EU court ruling on a key German pipeline. The judgment reduces the options Gazprom PJSC has to ship billions of dollars of gas to its biggest market without using Ukraine’s pipeline network. But Russia may see the logic in ...

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