July, 2019

• 1 July

  Dewa discusses use of quantum computing

  

  Dubai / WAM The Dubai Electricity and Water Authority (Dewa) has organised a number of workshops for its management and specialists to discuss how quantum computing can be used in electricity and water production processes. A number of quantum computing experts from Microsoft participated in the workshops, which were held over two days at the Dewa Campus for Occupational and ...

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• 1 July

  Abu Dhabi fund approves additional AED1b for Mali

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) will provide AED1 billion to support the balance of payments and national housing project in Mali. ADFD has signed two agreements with the Government of Mali. These include an AED918 million ($250 million) concessionary loan to support the balance of payments in the country as well as an additional concessionary ...

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• 1 July

  Saif Zone keen to attract international investors

  

  SHARJAH / WAM The Sharjah Airport International Free Zone (Saif Zone), host to 8,000 companies, held a business meeting in Abu Dhabi, participated by more than 80 investors and businessmen representing multinational companies from Hong Kong, Malaysia, Singapore and representatives of business councils operating in the UAE. The meeting came as part of Saif Zone’s efforts to attract and introduce ...

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• 1 July

  India issues tender for solar factories

  Bloomberg India issued a new tender for solar power equipment manufacturing capacity totaling 2 gigawatts, the latest attempt to spur its domestic industry after two earlier efforts failed to rouse investor interest. The new tender, issued by the state-owned Solar Energy Corp. of India, seeks as many as four projects for module, cell, ingot and wafer manufacturing with annual capacity ...

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• 1 July

  Japan to curb South Korea exports over colonial era row

  

  Bloomberg Japan moved to cut off materials vital to South Korea’s all-important tech industry, escalating a long-running dispute between the neighbours over events dating back generations. Prime Minister Shinzo Abe’s government said it would slap export restrictions on highly specialised products needed to make semiconductors and computer displays, and might also remove South Korea from a list of trusted buyers. ...

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• 1 July

  Airtel Africa’s stock debut among worst in Europe this year

  

  Bloomberg Bharti Airtel Ltd’s Africa unit plunged in London trading after raising about $750 million in an initial public offering, making it among the worst debuts on European exchanges this year. Airtel Africa Ltd dropped as much as 16 percent to 67 pence per share, matching the first-day decline for OssDsign AB last month. Airtel Africa said it had priced ...

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• 1 July

  India can boost budget without stoking inflation, says expert

  Bloomberg India’s government can offer fiscal stimulus to support economic growth in its budget next week without worrying about it being inflationary. That’s according to Kapil Gupta, an economist with Edelweiss Securities Ltd in Mumbai, who says a weakening economy and a possible US interest rate cut provide scope for India’s authorities to lift spending. Such a move wouldn’t undermine ...

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• 1 July

  Australia’s iron ore exports to drop for first time in 18 years

  

  Bloomberg Iron ore exports from Australia are set to post the first annual drop in almost two decades following bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a five-year high. Futures advanced. The world’s top shipper cut its 2019 forecast to 814 million tons from 867 million in March and boosted ...

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• 1 July

  India microlender seeks $900mn to fund loan growth

  

  Bloomberg One of India’s top microlenders is seeking about 60 billion rupees ($900 million) from banks and non-bank lenders to fund loan growth as demand from borrowers living in small towns and rural areas bucks the slump in the nation’s overall credit offtake. Satin Creditcare Network Ltd, whose assets exceed 70 billion rupees, needs the cash to meet its credit-growth ...

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• 1 July

  China’s weak factory reports show need for lasting trade truce

  

  Bloomberg A gauge of activity in China’s manufacturing sector showed the economy remains fragile, underlining the need for the truce with the US forged at the weekend to be a lasting one. China’s manufacturing purchasing managers’ index stayed at 49.4, according to official data. That’s worse than the 49.5 forecast in a Bloomberg survey of economists, and still signals deterioration. ...

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