June, 2019

• 19 June

  Banks postpone assets move as Brexit looms

  

  Bloomberg Goldman Sachs Group Inc. and Standard Chartered Plc are among global firms postponing the transfer of several billion euros of capital outside the UK despite regulatory pressure to complete the move. Other lenders including Citigroup Inc. have only shifted part of the assets they were initially planning to relocate due to the delays in Brexit, people familiar with the ...

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• 19 June

  Morocco holds key rate despite nation’s dim economic outlook

  

  Bloomberg Morocco’s central bank held its benchmark rate steady, refusing to budge even as the country’s economic prospects took a turn for worse. The decision, which Bank Al-Maghrib said was link-ed to bullish inflation projections and monetary conditions, came even as government pres-ses ahead with measures that will inject billions of dirhams into the economy — steps that also are ...

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• 19 June

  Deutsche Bank weighs sweeping changes at senior level

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing is planning sweeping changes to his top management, considering replacing finance chief James von Moltke and investment banking head Garth Ritchie, as he purges executives who rose under his predecessor. The bank is expected to decide on the future of several management members within weeks, according to people familiar with the ...

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• 18 June

  Abu Dhabi non-oil foreign trade surges 3.1% to AED51.8bn in Q1

  

  ABU DHABI / WAM The value of non-oil foreign merchandise trade through Abu Dhabi ports increased to as much as AED51.8 billion from January to March 2019, 3.1 percent up from AED 50.2 billion in the comparable period last year, according to figures released by Abu Dhabi Statistics Centre (SCAD). This was the result of a 37.7 percent increase in ...

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• 18 June

  Oil advances on optimism for economic stimulus, Opec meet

  

  Bloomberg Oil rose, reversing earlier declines, as the European Central Bank said it may pump more stimulus into the region’s economy and the Organization of Petroleum Exporting Countries (Opec) and its allies made progress in setting a date to discuss extending supply cuts. Futures gained as much as 4.5 percent in New York. The Organization of Petroleum Exporting Countries and ...

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• 18 June

  UAE draws AED111.7 billion of FDI flows in three years

  ABU DHABI / WAM The United Arab Emirates drew up to AED111.7 billion in FDI flows during the period from 2016 through 2018, bringing its overall volume of foreign investments to circa AED511 billion. According to the World Investment Report 2019, released by the United Nations Conference on Trade and Development, the UAE ranked 27th globally in attracting FDI flows ...

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• 18 June

  Sanad Aerotech grows global footprint with Europe pacts

  

  ABU DHABI / WAM Abu Dhabi-based maintenance, repair and overhaul (MRO) provider, Sanad Aerotech, has announced its expanding its international customers network in Eastern Europe, signing two maintenance agreements with Russian Nordwind and Bulgarian BH Air. The partnership agreements come after Sanad Aerotech and Rolls-Royce announced a landmark $6.5 billion engine maintenance agreement including component repair to operators globally over ...

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• 18 June

  Japan seeks to deepen defence ties with UAE

  

  ABU DHABI / WAM Japan is drastically reforming its defence organisations to deal with new combat situations that require a combination of conventional warfare and the new domains of space, cyberspace and the electromagnetic spectrum, a top Japanese defence official told the Emirates News Agency (WAM) on Monday. There is potential for further defence cooperation with UAE in such new ...

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• 18 June

  MBRSC begins registrations for its ‘space explorer camp’

  

  DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC), in Dubai announced the start of registrations for its Space Explorer Summer Camp 2019, where four camps will be organised over a four-week period, with 30 participants each. The camp for male students aged 11 to 14 years will be from July 7-11, for female students in the same age ...

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• 18 June

  Ajman’s China Mall records 1m shoppers in Q1

  Ajman / Emirates Business One million people visited Ajman’s China Mall (Gulf Chinese Trading Corporation) during first quarter of 2019, and the Mall continues to thrive with a 90% occupancy rate. 10% visitors were tourists, with the remainder coming from the emirate itself or the neighbouring emirates. Affordable prices, choice of products and a convenient shopping experience all contributed to ...

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