April, 2019

• 8 April

  DBWC membership database grows 10% in Q1

  

  Dubai / WAM The membership database of the Dubai Business Women Council (DBWC), has grown by 10 percent in the first quarter of 2019, bringing the total number of members to 949, up from 864 by the end of 2018, according to DBWC announcement. The significant increase in the membership database reflects the important role played by the council in support ...

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• 8 April

  Stocks edge lower; crude rises to five-month high

  

  Bloomberg US stocks halted the longest rally since 2017 as investors awaited signs of progress in the trade war with China ahead of the latest corporate earnings season. Treasuries dropped, while West Texas crude hit a five-month high. The S&P 500 edged towards its first decline in eight sessions, as the post-Christmas rally stalled with the index about 1.5 percent ...

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• 8 April

  Brexit clock fails to faze ‘pound traders’

  

  Bloomberg Pound traders appear undaunted by the lack of Brexit clarity even with just days left for Britain to officially leave the European Union. The UK currency was up on Monday and a gauge of expected short-term sterling volatility is near a two-week low, showing there’s little panic even as the April 12 exit date draws closer. Investors are increasingly ...

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• 8 April

  US-China deal closer; more talks to follow, says Kudlow

  

  Bloomberg President Donald Trump’s top economic adviser says the US and China are “closer and closer” to a trade deal, and that top-tier officials would be talking again this week via “a lot of teleconferencing.” Larry Kudlow’s “guarded optimism, maybe more than guarded optimism” on CBS’s “Face the Nation” came after China’s state-run Xinhua news agency reported that progress was ...

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• 8 April

  China’s Gree Electric parent company plans $6.4 billion stake sale

  Bloomberg The parent company of Gree Electric Appliances Inc is considering selling almost all of its stake in the Zhuhai-based Chinese appliance giant in a deal that could be worth up to $6.4 billion. A 15 percent stake will be sold at a price no less than the average stock price of the last 30 trading days, Gree Electric said ...

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• 8 April

  Singapore MAS sees no DBS impropriety in Hyflux bond sale

  

  Bloomberg Singapore’s financial regulator said it hasn’t uncovered any impropriety by DBS Group Holdings Ltd in arranging the sale of securities by troubled Singaporean water and power company Hyflux Ltd in 2016. DBS, Southeast Asia’s biggest lender, complied with regulatory requirements as both manager and distributor of the perpetual securities, the Monetary Authority of Singapore said. Hyflux scrapped a pact ...

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• 8 April

  Chinese trader sells copper at low rates

  

  Bloomberg One of China’s top commodity traders, Tewoo Group, is selling copper at below market rates as it grapples with a liquidity crunch, according to people with knowledge of the matter. The company, which is owned by the local Tianjin government, is offloading some refined copper stocked in bonded zones as it unwinds financing deals with some banks, said the ...

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• 8 April

  Sweet-toothed millennials lure giant sugar player to China

  

  Bloomberg One of Asia’s biggest sugar refiners is in talks to sell the sweetener in China, lured by the country’s “new generation” of consumers. MSM Malaysia Holdings Bhd is nearing the final stages of discussions to set up partnerships in China’s downstream sugar industry, Executive Director Khairil Anuar Aziz said. The refiner is looking to sell sugar for popular snacks ...

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• 8 April

  Flows to India stock funds rebound

  

  Bloomberg Flows into Indian equity mutual funds hit a five-month high in March, induced by the rally that recently lifted the $2.2 trillion stock market to a record. Stock funds took in about $1.7 billion, the highest since October, and more than double over the previous month, data from the Association of Mutual Funds in India, or AMFI, show. Indian ...

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• 8 April

  Trump to tout green bona fides while gutting environmental rules

  

  Bloomberg Donald Trump is preparing a novel campaign strategy for a president who is pulling the US from the international Paris accord on climate change, cheer-leading for coal, one of the dirtiest source of power, and suggesting that wind turbines cause cancer. He’s going to tout his environmental credentials. Administration officials are developing talking points on climate change and cultivating ...

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