July, 2019

• 10 July

  Deutsche Bank reboot looks real this time

  

  Deutsche Bank AG has given up waiting. After years spent adrift hoping that its ambitions to compete with Wall Street would come good again, Germany’s biggest bank has sounded the retreat. Chief Executive Officer Christian Sewing’s overhaul may not be particularly imaginative — but it is what the lender needs if it is to do more than just survive. After ...

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• 10 July

  EU-Mercosur deal a win for Latin America, free trade

  

  Argentina’s foreign minister fought back tears. President Maurico Macri called it “the most important agreement ever signed in our history.” Latin America’s big-gest economy would soon be “reborn,” predicted a top aide to Brazilian President Jair Bolsonaro, who likewise heralded the “great day.” The June 28 deal between the European Union and Mercosur was a breakthrough. Who knew that even ...

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• 9 July

  UAE affirms support for Mideast peace process, regional stability

  GENEVA / WAM In a statement delivered by Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations (UN) in Geneva, during the 41st session of the Human Rights Council, the UAE affirmed its support for the peace process in the Middle East, with the aim of achieving peace and stability in the region. It also highlighted its support ...

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• 9 July

  Abu Dhabi’s trade with Saudi hits AED18.3bn

  

  ABU DHABI / WAM The value of trade in goods between the Emirate of Abu Dhabi and Saudi Arabia has increased to AED18.3 billion during the first four months of 2019, a growth of 20.6 percent compared with the same period of 2018, according to figures released by the Statistics Centre — Abu Dhabi. The emirate’s trade with Saudi Arabia ...

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• 9 July

  IBM closes $34 billion deal to acquire Red Hat

  

  Bloomberg IBM closed its $34 billion purchase of Red Hat, sealing the world’s second-largest technology deal ever and setting up the iconic US technology company on a path to try and compete with top software purveyors in the cloud. The 108-year-old International Business Machines Corp, once synonymous with mainframe computing, has been struggling to adopt cloud-related technologies and is playing ...

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• 9 July

  UAE, Vietnam bolster ties

  ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, and with Trinh Dinh Dung, Deputy Prime Minister of Vietnam, discussed ways of accelerating mutual cooperation between the two countries. Al Mazrouei emphasised the strength of UAE-Vietnam relations in the light of the mutual ties of friendship and common interests in all fields. The ...

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• 9 July

  Aramco awards $18bn in deals to boost output capacity at two fields

  

  Bloomberg Saudi Aramco, the world’s largest crude exporter, awarded $18 billion in contracts to boost output capacity at two offshore oil fields even as the kingdom and its Opec partners restrict production. Saudi Arabia’s state oil company will add a combined 550,000 barrels a day of crude-production capacity at its Marjan and Berri fields, it said on Tuesday in a ...

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• 9 July

  Dafza keen to attract new business, FDI from China

  

  DUBAI / WAM Dubai Airport Freezone Authority (Dafza), one of the UAE’s leading free zones, has stepped up efforts to attract new business and foreign direct investment (FDI) from China following official Chinese delegation visits this week. Jamal bin Marghoob, Senior Director of Sales at Dafza, along with senior officials welcomed the delegation from the China Council for the Promotion ...

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• 9 July

  Nasdaq Dubai, Astana Exchange foster ties

  DUBAI / WAM Nasdaq Dubai and Astana International Exchange (AIX) in Kazakhstan have signed an agreement to establish a close operational relationship between the central securities depositories, CSDs, of both markets. Hamed Ali, Chief Executive of Nasdaq Dubai, said, “As Kazakhstan’s dynamic companies increasingly look abroad for investment, Nasdaq Dubai can provide them with access to a large pool of ...

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• 9 July

  Air Arabia starts daily flights to Kuala Lumpur

  

  SHARJAH / WAM Air Arabia has announced that it inaugurated its direct flight between Kuala Lumpur and Sharjah. The seven-hour flight between the two cities is the first direct flight by a low-cost carrier connecting Malaysia with the UAE and GCC. The flight operates daily. Flights on Mondays, Wednesdays, Fridays, and Sundays depart KLIA at 03:35 local time arriving at ...

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