August, 2019

• 19 August

  Committee set up to implement Human Fraternity Document

  ABU DHABI / WAM A higher committee has been set up in Abu Dhabi to implement the Human Fraternity Document signed by His Holiness Pope Francis of the Catholic Church and His Eminence the Grand Imam of Al Azhar, Dr Ahmed el-Tayyeb, in the UAE capital last February. The committee includes Bishop Miguel Angel Ayuso Guixot, President of the Pontifical ...

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• 19 August

  Wetex 2019 an ideal platform for green innovations, solutions

  

  DUBAI / WAM Dubai Electricity and Water Authority’s (Dewa’s) Water, Energy, Technology, and Environment Exhibition (Wetex) 2019 is an opportunity for green solution suppliers and providers, investors, and decision-makers — from private and public sectors that helps nurture international interest in green innovations — supports a sustainable environment and shift to a green economy. Wetex 2019 offers companies, decision-makers, invest-ors, ...

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• 19 August

  Global empowerment of communities in focus at Aqdar summit

  

  ABU DHABI / WAM The third edition of the Aqdar World Summit is set to kick-off this month in the Russian capital Moscow, featuring a high-profile UAE delegation taking part to discuss the global empowerment of communities. Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of ...

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• 19 August

  UK oil refineries may face severe ‘disadvantage’ in no deal Brexit

  

  Bloomberg The UK’s oil refineries would be at a severe competitive disadvantage if Britain exits the European Union without a deal and tariffs were imposed on its gasoline exports, according to an industry group. A leaked government document, on the implications of a no-deal Brexit, claimed that two of the UK’s oil refineries could be forced to shut down if ...

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• 19 August

  South Sudan discovers new crude in Adar

  

  Bloomberg South Sudan has made a new crude find in the northern oilfields of Adar and plans production by the end of the year, Information Minister Michael Makuei Lueth said. The oil will be linked to the nearby Paloch oilfields that are managed by Dar Petroleum Operating Co., Lueth said on Monday by phone from the capital, Juba. Petroleum Minister ...

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• 19 August

  Oil refiners go from profit pain to gain on ship-fuel rule

  

  Bloomberg The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners. Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs Group Inc. Margins have already expanded around 40% since late April as International Maritime ...

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• 19 August

  Philippines dangles tax perks to drive businesses out of Manila

  

  Bloomberg Businesses located in some of Manila’s offices, hotels and casinos could lose their investment incentives over the next five years as the Philippines looks to overhaul its corporate taxation. Under a new bill, the government wants to phase out its current set of tax perks, among Southeast Asia’s most generous, and businesses will have to reapply for incentives that ...

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• 19 August

  Axiata draws interest for its tower unit

  Bloomberg Buyers are circling Axiata Group Bhd.’s wireless tower business, even as the Southeast Asia telecom giant presses ahead with plans for a broader merger with Telenor ASA’s Asian operations, people with knowledge of the matter said. Axiata has received preliminary expressions of interest in recent months about a potential takeover of its Edotco Group Sdn. unit, according to the ...

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• 19 August

  Malaysia expects UK trade deal with palm producers post Brexit

  Bloomberg The UK will have the opportunity to make a trade deal with Southeast Asian nations, including the world’s top palm oil producers, once it leaves the European Union, and to steer clear of getting entangled in any potential trade war, according to Malaysian Prime Minister Mahathir Mohamad. “The key is to rethink the European Union’s misguided policy on palm ...

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• 19 August

  Thailand economy grows at slowest pace in five years

  

  Bloomberg Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism were buffeted by US-China trade tensions and a strong local currency. Gross domestic product (GDP) rose 2.3% from a year ago, down from 2.8% in the first quarter, the National Economic and Social Development Council said on Monday. That’s the ...

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