August, 2019

• 3 August

  18.1 million people used Dubai Metro in H1 2019

  

  DUBAI / WAM As many as 296.22 million riders used public, shared transport and taxis in the first half of this year in Dubai, according to the H1 report issued by the Roads and Transport Authority (RTA). The number reflects a healthy 6.5 percent growth rate from the figure recorded in the same period last year, which was 277.91 million ...

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• 3 August

  Ties with ICBC set to streamline ease of doing business in Kizad

  

  Abu Dhabi / WAM Abu Dhabi Ports and Jiangsu Overseas Cooperation Investment Co. Ltd. (JOCIC), have signed a five-year agreement with Industrial and Commercial Bank of China (ICBC), to make it easier and quicker for Chinese companies to do business at Khalifa Industrial Zone (Kizad), Abu Dhabi’s integrated trade, logistics, industrial and free zone. Abu Dhabi Ports, the operator and ...

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• 3 August

  UAE underlines its commitment to protect kids in armed zones

  

  NEW YORK / WAM At the UN Security Council’s annual Open Debate on children and armed conflict, the UAE reaffirmed the commitment of the Coalition to Support Legitimacy in Yemen – of which the UAE is a member – to complying with obligations under international humanitarian law, and underscored the seriousness with which the Coalition takes its responsibility to protecting ...

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• 3 August

  Rakez to reduce energy, water consumption by 38%

  

  Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez), is planning to reduce water and electricity consumption by 38.5 percent over the next five years. Rakez has signed a contract with Smart4Power, an energy efficiency solutions provider, for a retrofit project covering nine buildings, including a district cooling plant. The agreement, which is part of Rakez contribution towards the ...

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• 3 August

  Dubai Investments wins ESQR quality choice prize

  Dubai / Emirates Business Dubai Investments PJSC, the leading, diversified investments company listed on the Dubai Financial Market, announced that it has been conferred with the ESQR Quality Choice Awards 2019 in Berlin, Germany. The award, presented in recognition of the company’s exemplary leadership within UAE’s thriving investment sector, marked Dubai Investments the only investment company awarded from the region. ...

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• 3 August

  Khalifa Fund-supported Cirta’s unit signs major deal in Serbia

  

  Abu Dhabi / WAM The Airport Belgrade Catering (ABC), company, which was fully acquired by Emirati-owned Cirta Group, a group of companies supported by government entity Khalifa Fund for Enterprise Development (KFED), has secured the biggest deal with the country’s flag carrier Air Serbia. Under the terms of the agreement, ABC will provide the Serbian airline company, in which Etihad ...

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• 3 August

  UAE, Saudi to combat financial terrorism under new agreement

  

  Abu Dhabi / WAM The UAE’s Financial Intelligence Unit (FIU) has announced on Saturday the signing of a Memorandum of Understanding (MoU) with the Saudi Arabia Financial Intelligence Unit. The strategic partnership will further strengthen the cooperation between the two financial intelligence agencies. This will include the development of shared network platforms which will allow for enhanced knowledge sharing between ...

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• 3 August

  Fed move ends a short era of global quantitative tightening

  

  Bloomberg The Federal Reserve’s decision to stop shrinking its balance sheet means the era of quantitative tightening by major central banks is over less than a year after it started. Net bond purchases by the Fed, European Central Bank and Bank of Japan are now turning positive, according to an analysis of their balance sheets by Bloomberg Economics. That’s just ...

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• 3 August

  StanChart H1 pretax profit beats estimate, reaches $2.61 billion

  

  Bloomberg US-China trade tensions didn’t stop Standard Chartered Plc from delivering results that beat expectations. Adjusted pretax profit was $2.61 billion in the first half, the bank reported, higher than the company-compiled $2.50 billion estimate. Standard Chartered said it remains confident of a full-year return on tangible equity greater than 10 percent in 2021. “Trade protectionism is bad for the ...

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• 3 August

  Mark Carney can’t save the day when it comes to no-deal Brexit

  

  Bloomberg Mark Carney won’t be able to play the saviour if the UK leaves the European Union with no deal at the end of October. The Bank of England (BOE) governor said that the institution can’t necessarily deliver a growth-boosting package in the event of Brexit without a transition. In a week when the pound capped its worst monthly performance ...

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