January, 2019

• 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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• 2 January

  Operational capacity of Empower reached 1.43mn RT by 2018-end

  DUBAI / WAM The Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, continues to develop its infrastructure that support the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further develop the emirate’s infrastructure and enhance its efficiency as one of the ...

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• 2 January

  Ministry issues 540,359 business licenses in ’18

  

  Abu Dhabi / WAM Up to 540,359 business activity licenses were issued by the end of December 2018, circa 1.6 percent up from August of the same year, according to the Ministry of Economy’s statistics. The growth reflects the uplift recorded since the beginning of the year across all economic platforms in a way that will spur the GDP, which ...

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• 2 January

  Over 3mn guests visit Global Village in two months

  

  Dubai / WAM Global Village, the world’s leading multicultural Festival Park and the region’s first family destination for culture, shopping, and entertainment, announced a new attendance record with more than three million guest entries over the two-month period since its opening on October 30, 2018. Based on this performance and guest feedback, this makes for unprecedented performance, especially as Global ...

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