September, 2019

• 9 September

  NPCC inks collaboration deal with Chinese energy firms

  

  Abu Dhabi / WAM The National Petroleum Construction Company (NPCC), a part of the UAE’s Senaat, on Monday, signed Memorandums of Understanding (MoUs), with two leading entities in China’s energy sector at the 24th World Energy Congress in Abu Dhabi, in order to explore joint collaborative opportunities in both onshore and offshore oil and gas sectors, as well as other ...

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• 9 September

  India’s car sales see record monthly drop in August

  

  Bloomberg Car sales in India suffered their biggest monthly drop on record, as the slump in the country’s auto sector shows no sign of letting up. Deliveries slid 41% in August from a year earlier to 115,957 units, while sales of passenger vehicles including SUVs fell 32%, according to data released by the Society of Indian Automobile Manufacturers on Monday. ...

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• 9 September

  Sheikh Mohamed receives Total CEO

  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, received the Chairman of the Board and Chief Executive Officer of Total, Patrick Pouyanné, at Qasr Al Bahr Majlis on Monday. Pouyanné was accompanied by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of ...

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• 9 September

  World Energy Congress opens in Abu Dhabi

  

  Abu Dhabi / WAM The 24th World Energy Congress (WEC), kicked off in Abu Dhabi on Monday, gathering ministers, CEOs, policy-makers and industry practitioners from 150 countries to explore new energy futures, critical innovation areas, and new strategies. Under the theme “Energy for Prosperity”, the Energy Congress leads delegates through a four-day interactive programme designed to address the most critical ...

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• 9 September

  Draghi primes ECB easing that will test global currency defenses

  

  Bloomberg European Central Bank (ECB) President Mario Draghi will test the composure of global policy makers this week as he unleashes a barrage of stimulus to shore up economic growth. The monetary easing will probably feature the centerpiece of an interest-rate cut that widens the difference between borrowing costs in the euro area and elsewhere. That will potentially affect foreign ...

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• 9 September

  Citigroup, Credit Suisse await Africa asset sales for deals

  

  Bloomberg Citigroup Inc and Credit Suisse Group AG are expecting more African deals as governments sell assets and Ethiopia opens up. “Privatisation is a theme we see as becoming increasingly important given the fiscal pressures faced by many African governments,” Vikas Seth, the head of global emerging markets within investment banking and capital markets at Credit Suisse Group AG, said ...

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• 9 September

  BOE head must be politically sensitive: Barker

  

  Bloomberg It’s important that the next governor of the Bank of England is politically sensitive, according to Kate Barker, who is part of the panel interviewing candidates for the job. “If you’re really appointing a governor for eight years, it’s pretty difficult to foresee the political circumstances through that eight years into which this person is going to have to ...

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• 9 September

  Morgan Stanley picks BofA’s internet banker

  Bloomberg Morgan Stanley has hired Umi Mehta, an investment banker focussed on internet companies, from Bank of America (BofA) Corp in Silicon Valley, according to people familiar with the matter. Mehta has started work as a managing director of global internet at Morgan Stanley’s office in Menlo Park, California, working alongside Kate Claassen as co-head of the group, said the ...

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• 9 September

  ‘Indonesia economy growing below 5%’

  

  Bloomberg The World Bank projects Indonesia’s economic growth will slide to below 5% next year and warned of “severe” outflows if global risks worsen. The forecasts were made in a presentation to Indonesian President Joko Widodo, according to two people with knowledge of the matter, who didn’t want to be identified because the discussions were private. The presentation slides — ...

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• 9 September

  Lloyds suspends buyback after new mis-sold insurance claims

  

  Bloomberg Lloyds Banking Group Plc suspended its share buyback after a last-minute rush of compensation claims for mis-sold payment protection insurance, taking its total costs for the scandal to 21.8 billion pounds ($26.7 billion). Lloyds shares fell as much as 2.5 percent in London. The bank is making a further provision of between 1.2 billion pounds and 1.8 billion pounds ...

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