December, 2018

• 23 December

  Al Hilal Bank’s new initiative to accelerate fund transfers

  

  ABU DHABI / Emirates Business As part of Al Hilal Bank’s Digital and Operations transformation programme, the bank announced the introduction of our Payments STP (straight-through-processing) initiative. With STP, online (internet banking/ mobile banking) fund transfers in AED and inward fund transfers are now carried out almost instantly, adding speed and efficiency to the process. Speaking on the announcement, Alex ...

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• 23 December

  Dubai Tourism signs deal to woo more Japanese tourists to emirate

  

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) and H.I.S. Co., Ltd., one of Japan’s leading travel agencies, signed a Memorandum of Understanding (MoU) in Tokyo to confirm a strategic collaboration between the two entities. This month’s agreement marks the first-of-its-kind for Japan’s travel and tourism sector, and emphasises the commitment from Dubai Tourism and ...

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• 23 December

  UAE imports $450 million worth of French produce

  

  Dubai / Emirates Business With imports totalling $452,280,000, the UAE is one of the largest importers of French produce to Middle East, as revealed by French trade agency. UAE residents have been invited to re-discover the diversity, quality and taste of some of France’s most famous brands in a month long partnership with Carrefour. “As tastes evolve and become more ...

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• 23 December

  RTA, Careem establish e-hail taxi JV

  

  DUBAI / WAM The Dubai Roads and Transport Authority (RTA), has announced the establishment of an E-Hail Taxi Joint Venture with Careem Networks Company (Careem); the leading ride hailing technology company in the region. Accordingly, the new company, the name and logo of which will be announced in the next few months, will provide e-hail taxi services to customers beginning ...

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• 23 December

  Attorneys General seek to bar seismic oil tests in Atlantic

  

  Bloomberg Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The move brings the heft and resources of top state law enforcement officials to a fight over the future of oil and gas exploration along the US East Coast. ...

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• 23 December

  Solar power buyers loved 2018; panel makers loathed it

  

  Bloomberg Solar-panel makers had an awful 2018, but their customers really enjoyed it. Module manufacturers lost about 40 percent of their market value this year, even as the number of installations hit another record. The problem? Most makers are having to sell solar modules for below cost to compete with Chinese supplies. That’s helped buyers of solar power, which in ...

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• 23 December

  BlackRock Energy ETF sends big investor fleeing as oil dips

  

  Bloomberg With oil hovering just above its lowest level since August 2017, at least one large investor is dumping a BlackRock Inc exchange-traded fund (ETF) tracking the global energy industry. Two large blocks of the $1.4 billion iShares Global Energy ETF, or IXC, sold. The first was 1.1 million shares worth $34 million at 10:37 am in New York, and ...

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• 23 December

  Huawei’s growth, alleged theft helped sow mistrust

  

  Bloomberg Huawei Technologies Co. wanted a better way to test its telephone handsets, so it sent an engineer to see “Tappy,” the robot in partner company T-Mobile US Inc’s laboratory in Bellevue, Washington. “Tappy,” computer-driven and tireless, taps on touch screens, simulating weeks of use in a day. The Huawei engineer was curious about Tappy’s fingertips. So he slipped one ...

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• 23 December

  India seeks to open IL&FS books again

  

  Bloomberg The Indian government has sought to reopen the books of Infrastructure Leasing & Financial Services group, alleging evidence of auditing lapses was uncovered while looking into allegations that funds were siphoned from the beleaguered financier. A probe by India’s Serious Fraud Investigation Office indicated the lender’s accounts were fraudulent and mismanaged, Sanjay Shorey, a lawyer for the government told ...

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• 23 December

  Ghosn’s main lawyer disputes allegations

  

  Bloomberg Carlos Ghosn’s lawyer challenged allegations by prosecutors that the former Nissan Motor Co. chairman transferred personal financial losses to the Japanese automaker. While rearresting Ghosn, the prosecutors alleged Ghosn used Nissan’s money to pay a person who helped him meet payments to maintain a personal trading position during the 2008 global financial crisis. On Sunday, Motonari Otsuru, the main ...

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