June, 2019

• 30 June

  Etihad upgrades services on three key Asian routes

  

  Abu Dhabi / Emirates Business Etihad Airways, the national carrier of the UAE, upgraded services on three key Asian routes this week, introducing larger aircraft to accommodate growing demand. Flights between the UAE capital, Abu Dhabi, and major two Chinese cities, Shanghai and Chengdu, have been upgraded with next-generation Boeing 787 Dreamliners, while the South Korean city of Seoul has ...

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• 30 June

  UAE, UN stress intensifying joint efforts to tackle global challenges

  

  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, has received the UN Secretary-General Antonio Guterres, who is currently visiting the UAE for the Abu Dhabi Climate Meeting that kicked-off on Sunday. More than 1,000 world-renowned political figures and climate action experts are ...

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• 30 June

  ADX trading commission fees slashed by up to 90%

  

  Abu Dhabi / Emirates Business Abu Dhabi Securities Exchange (ADX) announced on Sunday that it is reducing its trading commission fees starting July 1 thus making ADX among the Mena region’s least expensive stock markets with regards to trading commissions. This initiative is designed to reduce costs on investors, build confidence, increase liquidity, as well as attract more investors into ...

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• 30 June

  DIFC introduces flexible law for ‘prescribed companies’

  

  Dubai / WAM The Dubai International Financial Centre (DIFC), is set to make structuring and financing faster, economical, and more flexible. Under a newly introduced regime, structures such as Intermediate Special Purpose Vehicles and Special Purpose Companies will now be classified as ‘Prescribed Companies’. The new prescribed companies regime expands the previous regime to also allow certain firms to establish themselves ...

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• 30 June

  Global action against climate change not enough: UN chief

  Abu Dhabi / WAM Although some countries have taken concrete steps against climate change, the related global efforts are not satisfactory, according to UN Secretary-General Antonio Guterres. “Climate change is outpacing our efforts. It is happening faster than we expected,” he said in his opening remarks at the Abu Dhabi Climate Meeting on Sunday. “All over the world, people are ...

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• 30 June

  France, UAE join hands to combat climate change

  

  Abu Dhabi / WAM Brune Poirson, French Secretary of State for the Ecological and Inclusive Transition, arrived in the UAE to attend the ‘Abu Dhabi Climate Meeting for the UN Climate Action Summit 2019’, taking place on Sunday and Monday. France, who currently holds the Presidency of the G7, has made combating climate change one of its top diplomatic priorities, ...

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• 30 June

  Ministry, ADGM partner to accelerate sustainable finance activities, green tech

  

  Abu Dhabi / WAM The Memorandum of Understanding (MoU), was signed by Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, on the sidelines of the Abu Dhabi Climate Meeting. The key details of the deal include attracting private investment and cutting-edge technologies to the country ...

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• 30 June

  ADFD grants AED1.8m to support biological research

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), earmarked a grant worth AED1.8 million ($500,000) to support the North-Eastern Federal University (NEFU), in Yakutsk, Russia. Aiming to facilitate scientific research and molecular genetic analysis in the remains of ancient animals, the financial contribution has been allocated to acquire 36 types of industry-specific laboratory equipment for the university. This grant aims ...

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• 30 June

  Fed unleashes higher payouts for banks

  

  Bloomberg Titans of the US banking industry said they will pump out more cash to shareholders after all 18 lenders passed the Federal Reserve’s annual stress tests. The results were a particular win for Deutsche Bank AG after it repeatedly failed past exams. A dozen of the nation’s largest lenders said they will boost payouts through dividends and stock buybacks ...

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• 30 June

  RBI spells out concerns over India’s spreading shadow banking crisis

  

  Bloomberg India’s financial regulator has spelled out its concerns about the implications of the country’s spreading shadow banking crisis, saying any failure among the largest of the non-bank finance firms could cause losses comparable to a collapse among the major banks. In its latest Financial Stability Report released, the Reserve Bank of India said the potential losses in the event ...

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