February, 2019

• 6 February

  Dubai slashes traffic fines by up to 100%

  DUBAI / WAM Dubai Police have launched an initiative that will entitle drivers to a 100 per cent reduction on existing fines, under the condition that drivers do not commit any violations for a full calendar year starting from February 2019. In a press conference held at the Dubai Police General HQ, Major General Abdullah Khalifa Al Marri, Commander-in-chief of ...

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• 6 February

  Trump vows to stop ‘endless wars’ in Syria, Afghanistan

  

  Bloomberg President Donald Trump pledged to bring home US troops from Syria with IS nearly defeated and to negotiate an exit from Afghanistan after almost two decades of war, saying in his State of the Union address that “great nations do not fight endless wars.” “Today, we have liberated virtually all of that territory from the grip of these bloodthirsty ...

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• 6 February

  Trump, North Korea’s Kim to meet in Vietnam on February 27-28

  

  Bloomberg President Donald Trump said he’ll meet with North Korean leader Kim Jong Un on February 27-28 in Vietnam, ending much of the months-long mystery over the details of their second summit on ending Pyongyang’s atomic ambitions. “Much work remains to be done, but my relationship with Kim Jong Un is a good one. Chairman Kim and I will meet ...

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• 6 February

  Russia worried Maduro’s grip may slip in Venezuela

  

  Bloomberg After pledging full support for the embattled regime of Venezuelan President Nicolas Maduro, Russia is starting to show signs of doubt about his ability to survive an opposition challenge. While Moscow hasn’t given up its public backing of Maduro, it increasingly recognizes that the disastrous state of Venezuela’s economy is inexorably draining what remains of his public support, said ...

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• 6 February

  Zimbabwe president invites rivals for talks

  

  Bloomberg Zimbabwe President Emmerson Mnangagwa invited opposition leaders for talks after a violent crackdown on anti-government protests over an economic crisis. The meeting was expected to take place on Wednesday at State House in the capital, Harare, Madock Chivasa, a spokesman for the opposition National Constitutional Assembly, said by phone. Political leaders who contested last year’s presidential elections can bring ...

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• 6 February

  Salvini’s rival seems poised to help him avoid a trial

  Bloomberg Matteo Salvini is in hot water, and his coalition ally and sometime-rival may be about to let him off the hook. The Five Star Movement, which governs Italy in a contentious coalition along with Salvini’s League party, is preparing to bow to pressure from the anti-immigration deputy premier and block a legal case sparked by his refusal to let ...

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• 6 February

  Oil supermajors’ torrent of cash woos investors

  

  Bloomberg The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp, Royal Dutch Shell Plc, Chevron Corp and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their dividends and buybacks are secure even with oil trading near $60. Those companies together ...

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• 6 February

  Pinduoduo plans to raise $1 billion in Alibaba challenge

  

  Bloomberg China’s upstart e-commerce company Pinduoduo Inc. (PDD) and its shareholders filed to sell more than 50 million shares in a secondary offering that could raise about $1.5 billion after the company’s public debut last year. The Shanghai-based company plans to sell 37 million American depository shares, while investors market 14.8 million, according to a securities filing. Its shares closed ...

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• 6 February

  Indonesia’s economic growth beats forecasts to reach 5.18%

  

  Bloomberg Indonesia’s economy grew faster than economists expected last quarter, showing resilience in the face of a series of interest-rate hikes and weaker global demand. Gross domestic product (GDP) rose 5.18 percent in the fourth quarter from a year ago, compared with the 5.1 percent median estimate in a Bloomberg survey of economists. That took expansion for the whole year ...

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• 6 February

  China back buying more US soy

  

  Bloomberg China’s back buying more US soybeans just days after the last round of purchases by the world’s top importer. State-run buyer Cofco Corp. bought almost 1 million metric tons of the oilseed, while Sinograin purchased more than a million tons, the two companies said in separate statements. That follows an announcement that they had purchased 2 million tons from ...

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