December, 2018

• 31 December

  Emerging markets at mercy of trade, Fed after a painful 2018

  

  Bloomberg Until a trade dispute between the US and China is resolved, a single tweet on the matter will have the power to ignite rallies and sell-offs. The tweet in question this week is President Donald Trump’s declaration that “big progress” is being made towards a deal between the US and China, and it may spur gains across emerging markets. ...

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• 31 December

  Trade protectionism will crimp global growth in 2019, says ECB

  

  Bloomberg The European Central Bank expects the global economy to slow in 2019 as rising protectionism curbs trade growth. While economic activity has remained resilient around the world, it has also become more uneven and signs of moderating momentum are increasingly evident, according to the ECB’s latest economic bulletin. Global trade growth has weakened and uncertainties about future trade relations ...

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• 31 December

  United Bank of India first to announce cash injection

  Bloomberg United Bank of India became the first of the country’s ailing state-run banks to announce a new cash injection from the government, disclosing in a filing that it will receive 21.6 billion rupees ($308 million) to improve its capital ratios. The announcement sent the bank’s shares up as much as 14 percent, set for the biggest gain since October ...

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• 31 December

  SNB disregards critics as franc keeps negative rates in play

  

  Bloomberg Swiss National Bank (SNB) interest rates are stuck to the floor and 2019 could see criticism of the policy growing louder: The financial sector hates it and there’s trouble brewing in the real estate market. After nine years of economic growth and the eradication of deflation risks, the arguments are building for the SNB to call time on the ...

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• 30 December

  Abu Dhabi reinforces position as global tourism destination

  

  ABU DHABI / WAM The Abu Dhabi Department of Culture and Tourism has made many achievements, in light of the emergence of specialist tourism trends and its efforts to improve local tourism infrastructure and to inaugurate new attractions that combine originality, modernity and hospitality. These achievements have positively affected the number of visitors to the emirate and its hotel occupancy ...

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• 30 December

  Japan imports 26.5mn barrels of oil from UAE

  TOKYO / WAM Japan has imported 26.528 million barrels of crude oil from the UAE in November 2018, data released on Sunday by the Agency for Natural Resources and Energy in Tokyo showed. This accounts for 28.3 percent of Japan’s total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, reported. Japan’s total crude oil ...

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• 30 December

  UAE banks’ international reserves hit AED404.3bn

  

  Abu Dhabi / WAM The net international reserves in the UAE banking sector hit an all-time high of AED404.3 billion by the end of November, up 23.1 percent of AED76 billion from AED328.3 billion during the same month last year, according to central bank figures. The remarkable growth in net international reserves reflects the distinctive financial and economic status boasted ...

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• 30 December

  Abu Dhabi export unit value index increases 10.7%

  Abu Dhabi / WAM The export unit value index in the emirate of Abu Dhabi was up 10.7 percent to 88.3 percent during Q3, against 79.8 percent during the same period in 2017, according to Statistics Centre — Abu Dhabi (SCAD). In the meantime, the import unit value index declined 4.8 percent to 106.3 from July through September 2018 from ...

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• 30 December

  Emiratis to account for 44% in internal auditing in coming years

  

  DUBAI / WAM The representation of UAE nationals, both males and females, in the UAE Internal Auditors Association (UAE IAA), will be 44 percent in the coming years, according to its chairman. “Emiratis to account for 44 percent in internal auditing in the coming years,” Abdulqader Obaid Ali said at an honouring ceremony for graduates of the 8th batch of ...

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• 30 December

  UAE nationals to be trained to join financial, banking sectors

  

  DUBAI / WAM Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, has said that the Ministry, in collaboration with its strategic partners, continues to implement Emiratisation policies, programmes and initiatives to attract UAE nationals and enhance their skills to enable them to lead the economic sectors, including the financial and banking industry. He made these remarks during ...

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