November, 2018

• 10 November

  Dubai Metro takes delivery of first of 50 new trains

  

  Dubai / WAM The first of the new Dubai Metro trains had arrived in the emirate, with a total of 50 to be delivered by the end of October 2019. Mattar Al Tayer, Director-General and Chairman of the Roads and Transport Authority (RTA), said the first train has been transported to the Metro Depot at Rashidiya. ”The manufacturer, Alstom, will ...

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• 10 November

  Mena’s first graphic design biennial opens

  Sharjah / WAM Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, inaugurated the Middle East’s first graphic design Biennial, and the first-of-its-kind in the Middle East and North Africa (Mena), region. Over the course of the next 21 days, the UAE’s fictitious “Ministry of Graphic Design” will introduce visitors to the best and most ground-breaking graphic designs ...

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• 10 November

  One million people visit Louvre Abu Dhabi in first year

  

  Abu Dhabi / WAM Louvre Abu Dhabi on Saturday announced that it has welcomed more than one million visitors in its first year, establishing itself as one of the leading cultural institutions on the global stage. Commenting on the first anniversary of Louvre Abu Dhabi, Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, ...

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• 10 November

  Macron moves to ease row with Trump over EU defense

  

  Bloomberg French President Emmanuel Macron moved to smooth over ruffled relations with Donald Trump after the US president took offense at his proposal Europe create its own continental military force. Macron received Trump at the Elysee Palace on Saturday in Paris ahead of a weekend of commemorations with world leaders to mark the 100th anniversary of the end of World ...

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• 10 November

  Fed risks political backlash reining in ‘strong’ US economy

  

  Bloomberg The guardian of the punch bowl is at risk of becoming the punching bag. The Federal Reserve continued to signal at its meeting that “further gradual increases” in interest rates are coming for the “strong” US economy. It’s a message that could be increasingly unpopular as Democrats and Republicans seek more spending next year while gearing up for the ...

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• 10 November

  Over 40% top banks fail to satisfy Fed in risk management

  

  Bloomberg More than 40 percent of major US lenders are failing to satisfy the Federal Reserve’s expectations in key areas of risk management, the central bank said in a report that reveals the regulator’s overall assessment of the industry. The Fed’s inaugural Supervision and Regulation Report highlights a number of positives — including high capital and liquidity reserves — but ...

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• 10 November

  JPMorgan to lead $283 billion Brexit shift to Frankfurt

  

  Bloomberg The major US investment banks are planning to shift assets to Frankfurt because of Brexit, a move that would see their balance sheets in Germany grow to about 250 billion euros ($283 billion), several people briefed on the matter said. Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. have presented plans to increase the ...

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• 10 November

  UBS confronts lawsuits, potential fines

  

  Bloomberg UBS Group AG’s two biggest legal cases in years are entering the final stretch in a test of Chief Executive Officer Sergio Ermotti’s strategy of taking on French and US authorities. The Swiss bank was hit with a long-expected US fraud lawsuit that accused it of fuelling the 2008 financial crisis by deceiving investors who bought billions of dollars ...

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• 10 November

  PBOC ready to tackle economic changes

  

  Bloomberg China’s central bank (PBOC) said the global outlook is worsening and that it’ll tweak its policy in a sign that trade tensions with the US are hurting the world’s second-largest economy. “External conditions are undergoing profound changes, downward pressures are increasing, some companies are seeing more difficulties in their operations, risks accumulated over the long term are being exposed,” ...

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• 10 November

  Russian oil may gain a lot by giving a little on Opec U-turn

  

  Bloomberg Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise. Fresh output curbs may push crude prices up, benefiting Russian producers just as they did during the cuts that began last year. The Moscow Oil & Gas Index has gained ...

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