January, 2019

• 15 January

  EIB sued over $69mn biomass loan

  

  Bloomberg The European Investment Bank (EIB) is being sued in the region’s second-highest court over a Spanish loan that climate lawyers contend will damage the environment. The suit is being brought by the not-for-profit environmental advocacy group ClientEarth, which wants European Union judges to determine whether the EIB breached its own renewable energy-financing criteria. The London-based group said it’s the ...

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• 15 January

  India’s subdued inflation signals RBI policy U-turn

  Bloomberg India’s headline inflation edging towards the lower-end of the central bank’s target band has opened the door to interest-rate cuts in coming months. While rate swaps show investors are pricing no change in the benchmark repurchase rate for the next 12 months, the Reserve Bank of India may be forced to jettison its hawkish stance adopted five months ago ...

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• 15 January

  Caution is the watchword for world’s top central banks

  

  Bloomberg Central banks enter the new year under pressure from investors to rethink just how aggressive they can be hiking interest rates. A slowdown in the world economy, the trade war and skittish financial markets are forcing policy makers including Federal Reserve Chairman Jerome Powell to express fresh caution about their scope for tightening monetary policy. The People’s Bank of ...

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• 14 January

  UAE economy to grow by 3.8% in next 5 years

  

  DUBAI / WAM The UAE is forecast to achieve an average real GDP growth rate of 3.8% between 2019 and 2023, supported by an increase in investment flows and private consumption, according to new analysis from Dubai Chamber of Commerce and Industry. The findings of the analysis, based on the Dubai Chamber UAE Macroeconomic Model, were revealed during a business ...

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• 14 January

  FNC discusses draft law on space sector regulation

  DUBAI / WAM During its meeting at the headquarters of the Federal National Council (FNC), General Secretariat in Dubai, the FNC Technical, Energy, and Mineral Resources Affairs Committee, chaired by Mohammed Ali Al Kamali, Chairman of the Committee, continued discussing a draft law on regulating the space sector, which includes 55 articles. Al Kamali said the committee discussed the law ...

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• 14 January

  Abu Dhabi National Hotels, FAB close $440mn loan pact

  Abu Dhabi / emirates business Abu Dhabi National Hotels (ADNH) and First Abu Dhabi Bank (FAB) have signed an AED1.6 billion ($440 million) loan facility agreement. The agreement will provide ADNH with the financing capability to acquire a number of Dubai-based hotels. The agreement was signed by Sheikh Ahmed Mohammed Sultan Suroor Al Dhaheri, Vice Chairman of ADNH and André ...

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• 14 January

  UAE, Australia to boost defence ties

  ABU DHABI / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, on Monday met with Christopher Pyne, Australian Minister for Defence. During the meeting, Al Bowardi hailed the distinguished relations between the UAE and Australia which are witnessing progress in all sectors. The two sides also discussed a number of issues of mutual interest and ways ...

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• 14 January

  Etihad to raise Jet Air stake to 49%

  

  Bloomberg Etihad Airways PJSC has agreed to lead a rescue of cash-strapped Jet Airways India Ltd in a move that will see the Abu Dhabi-based carrier double its stake to 49 percent, according to television reports. Etihad is in talks to lift its holding from the current 24 percent, India’s BTVI channel reported, citing unidentified people familiar with matter. CNBC-TV18 ...

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• 14 January

  Abu Dhabi integrated Energy Model launched

  Abu Dhabi / WAM The Department of Energy (DoE) launched the ‘Abu Dhabi Integrated Energy Model’ on Monday, at an event coinciding with the Abu Dhabi Sustainability Week 2019, to provide a roadmap for the energy sector in the upcoming period, in line with the Abu Dhabi Economic Vision 2030. Bearing the theme, ‘Energy: A Power that Shapes the Future’, the ...

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• 14 January

  Abu Dhabi investments in renewable energy reached AED8 billion

  

  Abu Dhabi / WAM Abu Dhabi’s investments in renewable energy have reached AED8 billion, reflecting positively on the sustainability of the sector for future generations, said Awaidha Murshed Al Marar, Chairman of the Department of Energy. In a statement to the Emirates News Agency (WAM), Al Marar said, “The emirate’s investments in the clean energy sector will witness significant growth this ...

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