July, 2019

• 16 July

  Higher taxes bane for India’s hedge funds

  

  India is killing off the one industry that can bring badly behaving tycoons into line while nudging savers away from an unproductive lust for gold. That industry is domestic hedge funds, which have taken seven years to reach $6 billion in investment commitments from nothing. By contrast, equity investment in India by overseas financial investors is upward of $400 billion. ...

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• 16 July

  Yes, Amazon advertising is just a toll in disguise

  

  Investors are giddy about Amazon.com Inc.’s fast-growing pool of advertising sales, which largely come from merchandise sellers buying commercial messages to make their goods more prominent on Amazon’s website. Calling this “advertising” is true, but also a misnomer that leads investors to imagine a Google-like marketing machine inside Amazon. It’s not – or not yet, at least. Amazon’s advertising is ...

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• 16 July

  Treasuries fall, dollar rises on economic data; stocks mixed

  

  Bloomberg Treasuries fell and the dollar rose after solid data from the world’s largest economy added to signs the expansion is holding up even as central bank officials indicated they’re ready to cut rates. Stocks were mixed. Benchmark 10-year yields halted a two-day slide, while the greenback climbed against most major currencies. The Dow Jones Industrial Average advanced to a ...

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• 16 July

  Philippine stock bulls unfazed amid drop in six weeks

  

  Bloomberg The bull run for Philippine stocks still has legs amid tailwinds of stronger corporate earnings, cooling inflation and continued monetary stimulus. The benchmark Philippine Stock Exchange Index entered the bull market after climbing more than 22 percent from a November low. The gauge is now the best performer in Southeast Asia and one of the top gainers in Asia ...

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• 15 July

  Oil wavers near $60 as storm Barry hits crude production

  

  Bloomberg Oil traded close to $60 a barrel after a tropical storm shut almost three-fourths of US Gulf of Mexico crude production amid lingering concerns about demand growth. Futures were little changed on Monday in New York after advancing almost 5 percent last week. About 73 percent of Gulf crude output was offline after explorers evacuated platforms and rigs ahead ...

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• 15 July

  Dubai unveils new e-statistics system

  ABU DHABI / WAM Dubai Customs announced the launch of its new e-statistics system, which has been developed in-house to keep abreast with the technological advancements in the UAE towards embracing the Fourth Industrial Revolution. Ahmed Mahboob Musabih, Director-General of Dubai Customs, kicked off the e-statistics system, at a launch ceremony held at the Dubai Customs headquarters in the presence ...

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• 15 July

  Dubai’s Amlak close to restructuring $1.2b debt

  

  Bloomberg Amlak Finance PJSC is nearing a deal to restructure debt for a second time, according to two people with knowledge of the plan. The company is asking creditors to reschedule repayments on $1.2 billion of loans over the originally agreed period that ends in 2026, said the people, asking not to be identified because the information is private. Most ...

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• 15 July

  Mena M&A deal value hits record high of $112b in H1

  

  Abu Dhabi / Emirates Business The value of announced M&A transactions in the Middle East and North Africa (Mena) reached an all-time high of $112 billion in the first half of 2019, according to a report from financial data provider Refinitiv. The increase of 231 percent compared to the value recorded during 2018, was driven by Saudi Aramco’s $69.1 billion ...

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• 15 July

  Yemen is of strategic importance for Arab security, says Mohamed

  

  Bloomberg His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, underscored that preserving Yemen’s security and stability and supporting its people were part of the established pillars of the UAE policy since the time of the late founding father, Sheikh Zayed bin Sultan Al Nahyan. His Highness ...

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• 15 July

  Etisalat Digital signs deal with 8 banks on new blockchain platform

  

  DUBAI / WAM Etisalat Digital, in partnership with First Abu Dhabi Bank, FAB, and Avanza Innovations, have developed UAE Trade Connect, UTC — a new nationwide platform that will use the latest disruptive technologies to digitise trade in the UAE. The initial phase will focus on addressing the risks of double financing and invoice fraud before turning to other key ...

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