August, 2018

• 13 August

  Malaysia investment banks get more women chiefs

  Bloomberg Malaysia has a higher proportion of female investment bank chiefs than any other big country. In the male-dominated world of investment banking, women are increasingly rising to the top in a place you might not think to look. Malaysia, a predominantly Muslim country better known for its recent political turbulence than its gender diversity, now has female bosses at ...

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• 13 August

  Morgan Stanley intern nabs senior Southeast Asia role in seven years

  

  Bloomberg Morgan Stanley is promoting a pair of dealmakers in Southeast Asia, with one banker rising from intern to a senior position in just seven years. The US firm has appointed Jannie Tsuei, who started as an intern in New York in 2011, as chief operating officer for Southeast Asia investment banking, according to an internal memo obtained by Bloomberg. ...

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• 13 August

  ‘Deutsche Bank’s Asia cuts largely completed’

  

  Bloomberg Deutsche Bank AG has almost finished restructuring its Asian investment-banking business and plans to add bankers in the coming months, said regional head James McMurdo. “Yes we did trim, but we trimmed where we thought we were less competitive, or where we thought the opportunity was not that significant and that has largely been completed,” McMurdo, who leads corporate ...

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• 13 August

  China shouldn’t rapidly push internationalised yuan: Zhou

  

  Bloomberg The internationalisation of the yuan has happened “earlier than expected,” but China should be keeping a low profile and not push it aggressively, former central bank Governor Zhou Xiaochuan said. The loss of trust in the dollar after the global financial crisis and other external events were factors increasing the use of the currency internationally, and China cannot force ...

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• 13 August

  Adnoc Distribution records 24% increase in Q2 profit

  

  ABU DHABI / WAM Adnoc Distribution has reported that net profit for the six months ended June 30, increased by 18 percent to AED1,124 million compared with the same period last year. According to a press statement, EBITDA grew by 30 percent to AED1,443 million, and gross profit rose by 24 percent to AED2,609 million. Free cash-flow generation was up ...

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• 13 August

  Eshraq Properties’ H1 income hits 4-year high

  Abu Dhabi / Emirates Business Eshraq Properties, the Abu Dhabi based real estate company listed on Abu Dhabi Securities Exchange (ADX), reports a net profit of AED14.8 million for the first half of 2018 versus a net loss of AED0.32 million for the same period last year. The results are the best half-yearly results for the company since the first ...

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• 13 August

  Amanat Holdings posts 12% rise in first-half profit

  Dubai / Emirates Business Amanat Holdings, the GCC’s largest healthcare and education investment company, reported a net profit of AED27.9 million in H1 2018, delivering double-digit gro-wth of 12% over the same period last year. The strong half-yearly performance is underpinned by the firm’s active deployment of capital. Total revenue generated in the first half of 2018 reached AED51.9 million, ...

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• 13 August

  FTA launches first phase of ‘Tax Clinic’ in Ras al-Khaimah

  

  Ras Al Khaimah / WAM The Federal Tax Authority (FTA) has officially launched phase one of its “Tax Clinic” initiative, which seeks to maintain direct and constant communication with taxable businesses. For three months, the campaign will cover all seven emirates to raise tax awareness across the country, urging taxable businesses to register with the Authority and promoting compliance with ...

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• 13 August

  BMW continues firmly on its course of profitable growth

  

  Munich / Emirates Business The BMW Group invested substantially in the mobility of the future during the first half of the year, while at the same time firmly continuing on its course of profitable growth. Rigorous implementation of the Group’s Strategy. The BMW Group has also set a decisive course for its future in China, the company’s largest growth market. ...

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• 13 August

  Europe gets its share of mega buybacks

  

  Bloomberg Europe’s equity market may finally be getting a hand from the force that has supercharged the US stock rally since the global financial crisis: share buybacks. European companies have unveiled blockbuster repurchase programmes this earnings season as their cash piles swell amid a continued recovery in profits. In non-UK Europe, net equity issuance has turned negative for the first ...

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