July, 2019

• 3 July

  Adnic creates 195mn newly converted shares

  Dubai / Emirates Business Abu Dhabi National Insurance Company (Adnic) has completed the conversion of the mandatory convertible bonds it issued on June 15, 2016 into shares after reaching their three-year term. Following the conversion, Adnic’s paid up capital increased to AED570 million and the total number of Adnic shares to 570 million. The 195 million newly converted shares are ...

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• 3 July

  UAE citizens can buy Union Coop shares from September

  Dubai / Emirates Buisness Union Cooperative, the largest Consumer Cooperative in the UAE, announced that all UAE citizens will soon be able to buy their shares and investing in Union Coop. HE Majid Hamad Rahma Al Shamsi, Chairman of Union Coop said: “This decision is a result of continuous efforts made by the Board of Directors over the past years ...

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• 3 July

  DP World launches initiative to attract investments from India

  

  Dubai / WAM DP World, UAE Region has launched ‘The India-UAE Bridge’, a major initiative that will attract Indian trade and investments to its flagship Jebel Ali Port and Jafza by offering end-to-end solutions to companies and entrepreneurs. A joint collaboration of DP World UAE Region, Jafza and the Indian Business and Professional Council (IBPC), the solutions delivered under the ...

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• 3 July

  Deal signed to bolster Abu Dhabi- Ajman economic ties

  

  Abu Dhabi / WAM The Registration Authority of the Abu Dhabi Global Market (ADGM) signed a cooperation agreement with the Department of Land and Real Estate Regulation in Ajman (ARRA) to foster new business opportunities and strengthen economic integration between the two emirates. Through the agreement, companies registered in the ADGM will be able to own property in freehold areas ...

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• 3 July

  ADX participates in 7th WIBC Capital Markets Summit Asia

  

  SINGAPORE / WAM Abu Dhabi Securities Exchange (ADX) represented by Acting Chief Executive Khalifa Salem Al Mansouri, has participated in the 7th edition of the World Islamic Banking Conference (WIBC) Capital Markets Summit Asia that concluded in Singapore. Under the theme ‘stre-ngthening investment outlook through robust capital markets’ the GCC-Asean investment forum was attended by more than 250 professionals. The ...

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• 3 July

  Airstrike hits Tripoli migrant detention centre, dozens die

  

  Bloomberg An attack on a Libyan detention centre that killed at least 44 people may constitute a war crime, a United Nations envoy said, adding to international pressure to end a battle for the capital that’s threatening to tear the North African Opec member apart. Libya’s UN-backed government accused eastern commander Khalifa Haftar of ordering an overnight airstrike that hit ...

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• 3 July

  Iran warns to restart N-reactor if Europe fails to meet deadline

  

  Bloomberg Iran warned it will restore a mothballed reactor and step up enrichment if European nations fail to offer it economic guarantees by a July 7 deadline, escalating a crisis that threatens to collapse the 2015 nuclear accord and plunge the Gulf into renewed uncertainty. “If you don’t meet all your commitments according to the timetable and plans, the Islamic ...

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• 3 July

  Rahul Gandhi quits as India opposition leader

  

  Bloomberg Rahul Gandhi announced his resignation as leader of India’s opposition Congress party, taking responsibility for its dismal result in the recent national election, which saw PM Narendra Modi returned for a second term with an increased majority. “Rebuilding the party requires hard decisions and numerous people have to be made accountable for the failure of 2019,” Gandhi wrote in ...

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• 3 July

  Pentagon calls South China Sea missile test ‘disturbing’

  

  Bloomberg The US denounced as “coercive acts” Chinese anti-ship missile tests in the disputed South China Sea, underscoring continued strategic tensions between the two Pacific powers even as they restart trade talks. China fired at least one missile into the sea over the weekend and was expected to continue testing through a launch window that continued until on Wednesday, NBC ...

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• 3 July

  Russia says some crew survived fire on research vessel ‘it won’t discuss’

  

  Bloomberg Russia said some crew members survived a fire that killed 14 sailors on a submersible research vessel, as the Kremlin refused to say whether a nuclear-powered submarine was involved. The sailors who died in the country’s worst naval incident in more than a decade “behaved like heroes” to save other crew members and the vessel, Defense Minister Sergei Shoigu ...

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