June, 2016

• 16 June

  Government approves merger of 5 associate banks with SBI

  

    Bloomberg State Bank of Bikaner & Jaipur and State Bank of Mysore shares surged for a second day as India approved the merger of the lenders with their parent, amid a government push to strengthen the nation’s fragmented banking industry. Bikaner Bank rose 18 percent in Mumbai to a five-month high, while SBM climbed 20 percent to the highest …

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• 16 June

  Japanese banks support central bank over BOJ’s negative rates

  

    Bloomberg Japan’s main bank lobby hinted that the central bank was right to keep monetary stimulus unchanged, saying that sending negative interest rates even lower would hurt the industry. “The impact on banks would be more severe if negative rates are expanded,” Japanese Bankers Association Chairman Takeshi Kunibe said at a briefing in Tokyo hours after the decision. Japanese …

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• 16 June

  Stocks slide as central banks fail to reassure; yen, gold climb

  

    BLOOMBERG Stocks slid with commodities after central banks in the U.S and Japan signaled increased concern about the global economic outlook. Gold and bonds rose on haven demand, while the yen climbed to the highest since 2014. The Stoxx Europe 600 Index fell to a four-month low and U.S. crude headed for its longest losing streak since February. Bond …

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• 16 June

  Gold pinned to Brexit angst as traders see $1,350 if ‘Leave’ wins

  

    Bloomberg Polls show Britons will vote next week to exit the European Union, and that has gold traders betting the precious metal will be a lot more valuable. Prices will rally to the highest in two years if the so-called Brexit campaign succeeds on June 23, reaching $1,350 an ounce within a week of the vote — about 3 …

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• 16 June

  Canada’s biggest solar-bond sale shines a green light on future

  

    Bloomberg A bond to fund Canada’s largest solar-power project, located on aboriginal land in Ontario, is proving a magic combination for investors who are scooping up the new green debt. The C$613 million ($475 million) of notes maturing in 2035 with a 3.926 percent coupon to finance the Grand Renewable Solar Project represent Canada’s largest solar-bond sale, according to …

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• 16 June

  UNFCCC gives thumbs up to DEWA’s solar power plan

  

    Dubai / WAM The UAE’s solar power programme, the UAE Solar Programme of Activities (PoA), has been approved by the United Nations Framework Convention on Climate Change (UNFCCC) Executive Board. The PoA was initiated by Dubai Electricity and Water Authority (DEWA) in collaboration with Dubai Carbon Centre of Excellence, Dubai Carbon, to promote the development of solar power in the …

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• 16 June

  Dubai Parks and Resorts appoints 744 Emiratis employees

  

    Dubai / Emirates Business Dubai Parks and Resorts, set to become the Middle East’s largest integrated theme park destination on its opening in October this year, announced that it has appointed 744 Emirati employees since the launch of its ambitious Emiratisation programme which aims to hire 1,000 UAE nationals. This announcement follows a highly successful three-day attendance at Careers …

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• 16 June

  NQA receives Indonesian envoy to UAE

  

    Abu Dhabi / WAM The National Qualifications Authority (NQA) received at its headquarters in Abu Dhabi the delegation of Indonesian Embassy to UAE who was briefed on the UAE experience in developing and implementing the National Qualifications Framework (NQF) and the associated policies and procedures. The delegation, headed by Hussein Baqas, the Indonesian Ambassador to the UAE, discussed with HE …

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• 16 June

  Dubai South launches ‘Ramadan Smile’ initiative

  

    Dubai / Emirates Business Dubai South has launched the ‘Ramadan Smile’ initiative as part of its CSR outreach during the Holy Month of Ramadan. The initiative will see Dubai South distribute Iftar boxes, Sakany-branded caps and T-shirts to workers of partner organizations, including IKEA, Nestle and Aramex among others, in three waves during Ramadan. The health and wellbeing of …

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• 16 June

  UNIDO discusses preparations for GMIS in UAE

    Abu Dhabi / Emirates Business The UAE Ministry of Economy (MoE) received a delegation from the United Nations Industrial Development Organization (UNIDO) at its Dubai headquarters that met members of the organizing committee of the Global Manufacturing and Industrialization Summit (GMIS). The meeting is part of ongoing preparations for the launch of the inaugural edition of the event in …

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