August, 2019

• 18 August

  UAE continues to make a difference in humanitarian aid

  

  ABU DHABI / WAM The UAE will join global celebrations for World Humanitarian Day, commemorated on August 19 every year. On this day, the UN Office for the Coordination of Humanitarian Affairs (UNOCHA) advocates on behalf of the entire humanitarian community, honouring humanitarian efforts worldwide and propagating the idea of supporting people in crisis. This year’s World Humanitarian Day is ...

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• 18 August

  US oil export race rages

  

  Bloomberg The race to develop oil terminals that can fully load supertankers on the US Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead. Over a year, more than 10 projects have been proposed for terminals that, combined, will be able to load 8 million barrels a day onto very ...

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• 18 August

  Energy stocks in Canada ‘decoupling’ from oil seen as worst-ever on record

  

  Bloomberg The days when energy stocks and price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. The ratio of the iShares S&P/TSX Capped Energy Index ETF to West Texas Intermediate crude oil is at an all-time low, according to data ...

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• 18 August

  Battery startup with $4.5bn plan has vision for Nordic hub

  

  Bloomberg Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.” The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But it already sees the scope for as many as four ...

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• 18 August

  $61 billion Australian fund is on the hunt for new talent

  

  Bloomberg Australian pension fund First State Super is on a hiring spree as it seeks to more than double in size to A$200 billion ($136 billion) within next four years. The Sydney-based firm’s investment team will grow to more than 100 people from 80 by 2022 as it builds out in-house expertise across equities, fixed income, infrastructure and direct lending, ...

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• 18 August

  China online sites block protest gear sales to HK

  

  Bloomberg Hong Kong demonstrators will need to look beyond mainland China for supplies of protest gear that’s defined the look of the movement. Queries on Chinese e-commerce portals such as Alibaba Group Holding Ltd.’s Taobao for umbrellas, masks and helmets would return the searches as “item not found” for buyers based in Hong Kong, while those on the mainland had ...

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• 18 August

  Singapore private home sales hit 8-month high

  Bloomberg Private home sales in Singapore jumped to highest in eight months as a broader economic slowdown spurred investors to park their money in a property market known as a safe haven. Developers in the city-state sold 1,178 apartments in July, an increase of 43% from the previous month, and the highest level since November. Purchases by foreigners more than ...

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• 18 August

  87 payment apps face uphill battle to turn India cashless

  

  Bloomberg The playing field in India’s rapidly expanding market for digital payments is poised to get more crowded as the country races to catch up with China in squeezing out the use of cash, according to the head of the South Asian nation’s payments network. That means Indians will continue to face a bewildering array of payments apps provided by ...

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• 18 August

  China bans six tied to $4.3 billion fraud

  

  Bloomberg China banned six people linked to a $4.3 billion scandal at one of the country’s biggest listed drug makers from participating in the securities industry. The financial reporting fraud at Kangmei Pharmaceutical Co. was “premeditated, organised, long-term and systematic,” the China Securities Regulatory Commission (CSRC) said in a statement. Kangmei Pharmaceutical said in May it overstated its cash positions ...

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• 18 August

  Indonesia budget walks a fine line between growth, restraint

  

  Bloomberg Indonesian President Joko Widodo proposed record government spending next year to drive the economy to its quickest projected growth in seven years, counting on stimulus and investment to overcome risks from a global slowdown and escalating trade war. Southeast Asia’s largest economy is forecast to grow 5.3% next year, the fastest pace since 2013, the president said in his ...

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