January, 2019

• 5 January

  Powell hints Fed open to pause if economy weakens

  

  Bloomberg Federal Reserve Chairman Jerome Powell signalled the central bank could pause interest-rate increases if the US economy weakened and pledged he will stay at his post even if President Donald Trump presses him to resign. Invoking events of 2016, when the Fed held rates unchanged through most of the year amid financial market turmoil spurred by concerns over slower ...

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• 5 January

  Polish central bank chief questioned in watchdog scandal

  

  Bloomberg Polish central bank Governor Adam Glapinski is undergoing “routine” questioning by prosecutors in relation to a bribery scandal that led to the arrest of the country’s banking watchdog chairman. The latest in a string of central bankers from emerging Europe becoming involved in legal probes, Glapinski has rebuffed calls to step down from opposition parties that are demanding a ...

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• 5 January

  ECB takes reins of Italian bank Carige

  

  Bloomberg The European Central Bank (ECB) took the unprecedented step of placing the cash-strapped Italian lender Banca Carige SpA in temporary administration, a move that could be a prelude to a sale or merger. The administrators and a three-member surveillance committee will focus on reducing balance sheet risk and finding a possible partner for the bank, Carige said in a ...

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• 5 January

  Indian banks plunge over merger terms

  Bloomberg The two Indian banks which will be merged into Bank of Baroda saw their share prices plunge in reaction to news of the terms of the deal. The share swap ratio has been set at 110 Bank of Baroda shares for every 1000 shares in Dena Bank, and 402 Bank of Baroda shares for 1000 shares of Vijaya Bank, ...

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• 5 January

  PBOC tweaks liquidity tap as growth jitters persist

  

  Bloomberg China’s central bank took a further step to secure liquidity to the slowing economy, amid investor jitters over the outlook and expectations that more easing moves are in the pipeline. The amount of cash lenders must hold as reserves will be cut by 1 percentage point, dropping by 0.5 percentage point on January 15 and a further 0.5 percentage ...

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• 2 January

  Oil begins 2019 with loss amid China growth fears

  

  Bloomberg Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus. Futures declined 1.6 percent in New York after a turbulent 2018 that saw volatility soar in its final weeks as concerns over the US-China trade dispute ...

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• 2 January

  UAE transfers AED1bn customs duties for GCC

  ABU DHABI / WAM The Federal Customs Authority has announced that the total value of customs duties transferred by the UAE to the GCC countries amounted to about AED1 billion in 2018, as well as transfers from the GCC to local customs administrations. The transfers were through the implementation of 168,726 transactions in the automated transfer customs duty (ATCD) system, ...

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• 2 January

  Dubai uses nanotech in paint to reduce carbon footprint

  DUBAI / WAM Dubai Municipality said that it won the first prize in the eighth edition of the Climate Change Awards 2018 for the results of the study on the use of nanotechnology in paints under prevailing climatic conditions and their impact on reducing the carbon footprint. The award comes as an embodiment of the municipality’s commitment to its strategic ...

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• 2 January

  ADSW to address key global sustainability challenges

  

  Abu Dhabi / WAM Abu Dhabi Sustainability Week, (ADSW) which will be held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, from January 12-19 will witness significant growth in the number of participating countries and visitors, by a rate exceeding 250 percent ...

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• 2 January

  Mohammed bin Rashid, a global asset: Gergawi

  DUBAI / WAM Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future, has emphasised that any discussion on civilisations is rendered null and void if “you do not refer to the exceptional leaders who develop the values, principles, and visions that drive these civilisations.” “The Greek civilisation introduced us to men of learning such as Aristotle, Plato, ...

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