February, 2019

• 13 February

  ERC distributes 1,400 food baskets in Yemen’s Shabwa

  Abu Dhabi / WAM The Emirates Red Crescent (ERC), sent relief convoys to a number of Shabwa districts, Yemen, including 1,400 food baskets benefiting more than 8,120 low-income citizens as part of its humanitarian programme to help people who suffer from a difficult humanitarian situation. The distribution of food baskets targeted desert areas of Nisab and Usaylan districts in Shabwa, ...

  Read More »
• 13 February

  Khalifa Fund signs MoU with UAE Central Bank

  

  Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), signed a Memorandum of Understanding (MoU), with the Central Bank of the UAE which will enable the fund to employ the direct debit system of the Central Bank and receive payment from its’ entrepreneurs directly from their accounts in any bank which operates within the UAE. The agreement was signed by ...

  Read More »
• 13 February

  Chevron CEO says Texas shale is forcing cutbacks across energy

  

  Bloomberg For Mike Wirth, the future of Big Oil lies at home, under the dusty fields of West Texas. As he celebrates his first year as chief executive of Chevron Corp., Wirth sees the Permian Basin as a plentiful source of high-quality crude for years to come, but that’s not all. The low break-even costs to pump in the Permian ...

  Read More »
• 13 February

  India offers $50bn opportunity in energy storage

  Bloomberg India is presenting a potential investment opportunity of $50 billion in battery storage facilities that could help integrate renewable energy into the grid, replace polluting diesel-fueled power and boost electric mobility, the head of American energy firm AES Corp. said. “We think India is going to be a big market for energy storage,” Chief Executive Officer Andres Gluski said. ...

  Read More »
• 13 February

  4th day blackouts stalk South Africa

  Bloomberg Eskom Holdings SOC Ltd. said will cut 3,000 megawatts of power from the South African grid from 8 a.m. until 11 p.m on Wednesday, marking the fourth consecutive day of such measures. The state-owned power utility, which supplies more than 90 percent of the country’s electricity, is implementing the rolling blackouts due to a shortage of generating capacity, Eskom ...

  Read More »
• 13 February

  The US can take on a lot more debt within limits

  

  For many years, respected macroeconomists scolded countries that failed to reduce their debt levels. The International Monetary Fund (IMF), whose job it is to lend money to poor countries in crisis, long demanded fiscal austerity in exchange for aid. In Japan, economists darkly warned of a solvency crisis as that country’s debt climbed. In the US, too, many economists cautioned ...

  Read More »
• 13 February

  Softbank’s buyback magic may wear thin

  

  Day traders may be rejoicing at SoftBank Group Corp.’s biggest ever buyback, but for loyal believers in Masayoshi Son’s magic wand, it’s another worrisome development. SoftBank unveiled the repurchase program last week, promising to spend as much as $5.5 billion on its own stock over the coming year. That would be enough to buy 71 million shares, or 6.5 percent ...

  Read More »
• 13 February

  The wheels have come off at JLR for Tata Motors

  When companies book a massive writedown, shareholders often just shrug. That’s because impairments usually happen a long time after the market has formed a fairly accurate opinion of the company’s financial position — and a charge doesn’t impact cash. India’s Tata Motors Ltd hasn’t been so lucky in how its own writedown was received this week. The 3.1 billion pound ...

  Read More »
• 13 February

  Global tilt towards easing draws more succor in Asia

  India’s interest-rate surprise is looking more like a good one. In what may seem like an odd pairing outside cricket contests, New Zealand may have just validated the subcontinent’s contentious cut. Inflation figures showed an easing in the pace of India’s consumer-price increases in January. That’s what you want to see if you’re going to shock people with a reduction ...

  Read More »
• 13 February

  No, France and Germany haven’t fallen out at all

  

  France and Germany’s recent cooperation agreement – in which the two nations promised to form join positions on all important European matters – appears to have withstood a difficult early test. The two powers have forged a compromise over the contentious issue of the Nord Stream 2 gas pipeline from Russia. The connection, which will run from Ust-Luga in Russia ...

  Read More »