September, 2018

• 17 September

  ADGM launches digital sandbox to accelerate financial services

  

  Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Monday announced an initiative to launch a FinTech digital sandbox. The digital sandbox allows financial institutions (FIs) and FinTech innovators to come together to experiment on products and solutions in a digital platform environment, supported by regulatory standards developed by the Financial ...

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• 17 September

  FinTech Abu Dhabi Summit launched

  

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), on Monday successfully launched its second edition of fintech Abu Dhabi Summit, held under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, at the Fairmont Bab Al Bahr, Abu Dhabi. The two-day event, was well-attended by about 1,000 participants comprising senior government ...

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• 17 September

  ‘Plug and Play’ to start deploying capital in UAE in Q1 2019

  ABU DHABI / WAM Plug & Play, a global innovation platform, bringing together the best startups and the world’s largest corporations, will start deploy capital in the UAE by Q1 2019 “to invest in the local startup scene more proactively,” Omeed Mehrinfar, Managing Director Fintech, at Plug and Play told the Emirates News Agency (WAM). “Actually we could have started ...

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• 17 September

  DLD, Dubai Creative Clusters Authority ink deal

  

  DUBAI / WAM The Dubai Land Department (DLD), and the Dubai Creative Clusters Authority (DCCA), signed two Memoranda of Understanding (MoUs), in line with the interests of the two parties to structure and develop their relationship. The first MoU covers the integration of electronic systems and the exchange of both information and technical expertise, while the second revolves around the ...

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• 17 September

  Experts discuss progress of Dubai industrial strategy

  DUBAI / WAM The Dubai Science Park, a science-focused business community, hosted a panel discussion in partnership with CPhI Middle East and Africa, the region’s most comprehensive pharma gathering, to discuss the importance of attracting manufacturing activities to the local pharmaceuticals and medical equipment sector and decrease dependency on medical imports. Themed ‘Dubai Industrial Strategy 2030: Advancing the UAE pharmaceutical ...

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• 17 September

  Saudi brokers Ethiopia, Eritrea deal to boost regional security

  

  Bloomberg Saudi Arabia brokered a new peace agreement between Ethiopia and Eritrea aimed at stabilising the Horn of Africa region, Foreign Minister Adel Al-Jubeir said. Ethiopian Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki signed the so-called Jeddah Peace Accord on Sunday in the presence of King Salman bin Abdulaziz and United Nations Secretary-General Antonio Guterres. It’s the second ...

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• 17 September

  Tech shares pull down US indexes on trade fears

  

  Bloomberg US stocks started the week lower, while Asian equities slumped and European shares gained, as investors grappled with the latest American threats to expand tariffs on Chinese goods. The dollar slipped and emerging-market currencies declined. The S&P 500 Index was pulled down on Monday by technology companies including Amazon.com Inc., Apple Inc. and Microsoft Corp. Semiconductor stocks also slumped, ...

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• 17 September

  China stocks hit four-year low

  

  Bloomberg China’s benchmark equity gauge fell to its lowest close since 2014, before the market’s boom and subsequent bust, while Hong Kong stocks also declined as the US trade dispute and a severe typhoon hurt sentiment. The Shanghai Composite Index fell 1.1 percent to 2,651.79 points, passing its 2016 post-crash low of 2,655.66. The gauge is one of the worst ...

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• 17 September

  Maersk customers to pay for $2bn-a-year fuel hike

  

  Bloomberg The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a ...

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• 17 September

  Saudi’s sovereign wealth fund raises $11 billion loan

  

  Bloomberg Saudi Arabia’s sovereign wealth fund raised an $11 billion loan, marking its first-ever borrowing. The loan was larger than initially planned due to strong interest from banks and establishes a core banking group for the Public Investment Fund to work with on future deals, the fund said. “This is the first step in incorporating loans and debt instruments into ...

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