September, 2019

• 8 September

  Goldman CEO, Bono nicked in Sugarfina bankruptcy

  Bloomberg Sugarfina Inc, the chain of luxury candy shops backed by some of the biggest names in banking and entertainment, filed for Chapter 11 bankruptcy protection as mall-based stores struggle to compete. Posh candies like Champagne gummy bears for $8.50 and bourbon-and-toffee chocolate bars at $9.50 are part of Sugarfina’s lineup. The company listed assets and liabilities of up to ...

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• 8 September

  Veteran banker touts India bonds on prospect of deeper interest rate cuts

  

  Bloomberg The slide in Indian bonds last month on concern about potential monetary stimulus has one bond veteran smelling an opportunity. The government’s scope to deliver a big package to revive the economy is limited despite the $24 billion windfall from the central bank, while the prospect of additional interest-rate cuts will drive yields lower, Neeraj Gambhir, president and head ...

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• 8 September

  Britons worried about Brexit pushing up prices

  

  Bloomberg Half of Britons say that the UK’s departure from the European Union has pushed up their expectations for price growth, a Bank of England (BOE) survey showed. Inflation expectations for the coming year stood at 3.3 percent in August, the BOE said, the highest since 2013 and up from 3.1 percent in May. Consumers are slightly more optimistic about ...

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• 8 September

  World’s bad-loan mess to worsen on India’s cash crunch

  

  Bloomberg A prolonged shadow-banking crisis and hurdles in bankruptcy rules are set to keep India atop the world’s worst bad-debt pile, even as Italy, which held the title previously, quickens the clean-up of its lenders. Moody’s Investors Service to Credit Suisse Group AG warned that more loans may sour in the Asian nation’s banking system. More than 2.4 percent of ...

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• 7 September

  UAE assistance to reach 30,000 flood-victim families in Sudan

  

  Abu Dhabi / WAM The Khalifa bin Zayed Foundation will distribute humanitarian relief and food assistance to around 30,000 Sudanese families affected by torrential rains and flash floods that swept Sudan in early August, a foundation source has announced. The source said a field relief team of the foundation had held a series of meetings with Dr. Mohmmed Fadhlallah, Deputy ...

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• 7 September

  Oil posts biggest weekly gain since July on Fed reassurance

  

  Bloomberg Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook. Futures in New York rose 0.4% on September 6, erasing earlier losses. Powell said the most likely outlook for the US and world economy ...

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• 7 September

  Sewa, Finland to cooperate on sustainability, training

  

  SHARJAH / WAM Rashid Al Leem, Chairman of Sharjah Electricity and Water Authority (Sewa), received Marianne Nissila, Ambassador of Finland to the UAE, and a number of officials to brief them on Sewa’s innovative initiatives in the fields of energy efficiency and environmental preservation, provision of ideal working environment for employees. They discussed ways of cooperation in the fields of ...

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• 7 September

  ADIBS 2019 to highlight marine industry trends

  Abu Dhabi / Emirates Business With one month left until the grand opening of second edition of Abu Dhabi International Boat Show (ADIBS 2019), the event has attracted several prestigious exhibitors, sponsors and partners from the UAE and across the globe. Set to run from October 16-19 the highly anticipated exhibition will showcase the latest trends in leisure marine from ...

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• 7 September

  FTA drive monitors compliance with ‘digital tax stamps’

  

  Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) conducted two simultaneous awareness and inspection campaigns to verify compliance with the ‘Marking Tobacco and Tobacco Products Scheme’ in the first month since the ban on selling cigarettes not bearing the Digital Tax Stamps in local markets went into effect. The Stamps placed on cigarettes allow for tracking the products ...

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• 7 September

  UAE, Uzbekistan launch ‘innovation diploma’

  ABU DHABI / WAM The UAE and Uzbekistan launched the first Public Sector Innovation Diploma to build capacities of the first generation of Chief Innovation Officers in Uzbekistan, during the innovation workshops conducted by Mohammed bin Rashid Centre for Government Innovation (MBRCGI) in Tashkent. The initiative was announced during an official visit of the UAE government delegation to Uzbekistan as ...

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