August, 2018

• 29 August

  Banking sector remains robust: UBF

  

  ABU DHABI / WAM The UAE Banks Federation (UBF) has released its annual report for the year 2017, shedding light on major developments, and trends in the UAE banking sector as well as local and regional economies. The report highlights UBF’s key initiatives and events, which continue to contribute significantly to the banking sector in the UAE. The report underscores ...

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• 29 August

  DXB passenger traffic reaches 8.2mn in July

  DUBAI / WAM Dubai International Airport (DXB) has recorded its second busiest month ever surpassing the eight million passenger mark in July, according to monthly traffic report issued by operator Dubai Airports. The airport clocked monthly traffic exceeding 8 million passengers on thr-ee other occasions last year —in January 8.03 million, July 8.06 million, and August 8.23 million. Passenger numbers ...

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• 29 August

  US-Canada Nafta trade talks resume with focus on dairy

  

  Bloomberg Talks to update the North American Free Trade Agreement (Nafta) will resume in Washington with a focus on dairy as the US pressures Canada to strike a deal by Friday, a US official familiar with the negotiations said. Canada’s Foreign Minister Chrystia Freeland is expected to visit the Washington office of US Trade Representative Robert Lighthizer. This week’s Nafta ...

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• 29 August

  Arab Coalition Forces kill scores of Houthi commanders in Yemen

  HODEIDAH / WAM The Saudi-led Arab Coalition Forces have targeted a meeting of Houthi commanders in Beit Al Faqih, Hodeidah, killing scores of the coup perpetrators. The strike, which followed the typical rules of combat engagement, came after the Coalition had received confirmed intelligence reports on a terror attack being plotted by the Iran-aligned militias. Field reports confirm that the ...

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• 29 August

  UAE mobile spend to grow 26% to AED20bn by 2019

  

  DUBAI / Emirates Business Overall online spending continues to grow in the UAE, and is forecast to reach AED36 billion by the end of 2018, according to a joint report issued by PayPal and Ipsos on Wednesday. The fourth annual cross-border commerce report, which tracks online domestic and cross-border shopping habits of approximately 34,000 consumers in 31 countries, also revealed ...

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• 29 August

  Musanada affirms health, safety, quality compliance

  

  ABU DHABI / WAM Abu Dhabi General Services Company (Musanada) affirmed compliance with occupational health and safety and quality requirements, noting that it is trying to improve performance of its strategic partners in order to realise on ground vision of Abu Dhabi government towa-rds achieving sustainable development by implementing hi- ghest quality standards in projects execution while protecting environment, ensuring ...

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• 29 August

  UAE sets up $100mn power station in Aden

  ADEN / WAM The United Arab Emirates has established a 120-megawatt power station in Aden at a total cost of $100 million to meet local energy needs. The station, powered by one of the world’s largest engine, is located in Al Haswa district and will start operation in October. A UAE ship docked at Aden earlier on Wednesday carrying the ...

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• 29 August

  Adnec to host over 50 major local, global events by 2018-end

  

  ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) on Wednesday announced that it is primed to host a very busy events season with its venues fully occupied till the end of this year by more than 50 major local and international exhibitions and conferences across key sectors including culture, healthcare, leisure, lifestyle, and business. Humaid Matar Al Dhaheri, ...

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• 29 August

  Technology shares surge as US stocks pad records

  

  Bloomberg US stocks plowed to new records, with technology shares pacing gains, as investors speculated the Trump administration will make progress on trade spats. The pound rallied after the European Union revived hopes of a Brexit deal before the UK exits the common area in March. The S&P 500 Index jumped past 2,900, a level it first breached on Tuesday, ...

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• 29 August

  Chinese investors sell record Hong Kong stocks as Tencent stings

  

  Bloomberg Chinese investors have dumped Hong Kong stocks at a record clip this month, as the city’s equity benchmark tumbled to its lowest in a year. Mainland investors sold net HK$25.4 billion ($3.2 billion) of Hong Kong equities in August through Tuesday, according to Bloomberg calculations based on daily turnover data. That’s the biggest monthly selling figure since China opened ...

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