July, 2019

• 27 July

  Dubai Customs, FANR step up coordination

  DUBAI / WAM Dubai Customs has stepped-up coordination with Federal Authority for Nuclear Regulation (FANR) on procedures applied for detection, inspection and detention or release of controlled materials, while ensuing facilitation of passenger movement and border protection. This cooperation was discussed during a visit of the FANR delegation to Dubai Customs’ Passenger Operations Department. The delegation was headed by Christer ...

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• 27 July

  Dubai Diamond Exchange completes three tenders

  

  DUBAI / WAM The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced on Saturday the successful completion of three rough and polished diamond tenders hosted between July 16 and 23. Over 200 companies convened in Almas Tower to analyse and value the stones with ...

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• 27 July

  Mohamed, King Abdullah discuss ways to boost ties

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received in Abu Dhabi on Saturday His Majesty King Abdullah II of Jordan, who is currently visiting the UAE. His Highness Sheikh Mohamed bin Zayed welcomed King Abdullah’s visit, which stems from the keenness ...

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• 27 July

  UAE’s support for Ethiopia lauded

  

  ABU DHABI / WAM The UAE is a major contributor to and supporter of the humanitarian and development efforts being made by the government and people of Ethiopia to assist displaced persons and people affected by adverse humanitarian conditions, said Tagesse Chafo, the Speaker of the Ethiopian House of Peoples Representatives. ‘‘The UAE has always been at the forefront in ...

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• 27 July

  ADX’s new guidelines to support growth and sustainable trade

  

  ABU DHABI / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Saturday that it has issued an environmental social & governance (ESG) disclosure guidelines for listed companies. The launch of this set of 31 key performance indicators (KPIs) is aligned with ADX strategy which is designed to support economic growth, while providing a sustainable trading environment and encouraging the ...

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• 27 July

  Abu Dhabi’s Imkan expands into Egypt with new acquisition

  

  Abu Dhabi / Emirates business Abu Dhabi-based real estate developer Imkan announced the acquisition of a substantial plot of land in Egypt’s New Cairo district and the appointment of a new CEO for the Egyptian arm of its real estate business, Imkan Misr. Walid El-Hindi, CEO, Imkan, said: “Our latest plot acquisition in New Cairo is a clear indication of ...

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• 27 July

  Total’s Q2 profit drops as lower gas prices offset rising output

  

  Bloomberg Total SA’s second-quarter profit fell short of estimates as the price of natural gas and oil dropped, while record hydrocarbon production and continued cost cuts boosted cash flow. Adjusted net income was almost a fifth lower than a year earlier, but cash flow rose and the French giant went ahead with a planned share buyback. While trade tensions and ...

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• 27 July

  ‘Shale drilling’s worst yet to come’

  Bloomberg America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon. Three months ago, when Helmerich had 220 of its rigs hired out, CEO John Lindsay told investors second quarter would be nadir for his fleet. But after the number of Helmerich rigs ...

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• 27 July

  Bank of Russia slashes key rate, signals more easing

  

  Bloomberg The Bank of Russia reduced interest rates for a second time this year and signalled more cuts to come, as inflation and economic growth slow. The key rate was cut to 7.25 percent from 7.50 percent, according to a statement. The move was forecast by all but one of the 40 economists polled in a Bloomberg survey, with the ...

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• 27 July

  Berkshire’s stake in BofA climbs past 10%

  

  Bloomberg Berkshire Hathaway’s stake in Bank of America (BofA) crept above 10 percent, crossing a threshold that’s caused the conglomerate headaches in the past, as the bank bought back its own stock. Berkshire said in a regulatory filing that it owned 950 million shares in the lender, a holding that put it above a 10 percent ownership stake. The total ...

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