August, 2018

• 6 August

  ADX upgrades tick size for ‘stocks of companies’

  

  Abu Dhabi / Emirates Business In a bid to develop its operations and launch strategic initiatives that contribute to the Abu Dhabi Economic Vision 2030, Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, announced an upgrade in the tick size for stocks of companies with a share price of less than 1.00 AED. This announcement is in line ...

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• 6 August

  Emiratisation a vital national issue: Insurance Authority

  DUBAI / WAM Ibrahim Obaid Al Zaabi, Director-General of the Insurance Authority, said that Emiratisation is a vital national issue and requires cooperation between the public and private sectors and relevant institutions, as well as their greater efforts. Al Zaabi added that the authority is working hard to achieve the aspirations and directives of the UAE’s wise leadership with regards ...

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• 6 August

  WGES to discuss role of public-private leaderships in ‘green growth’

  

  DUBAI / WAM The transformation to a green economy needs fundamental cooperation of both the private and public-sector leaderships, and this responsibility will be highlighted at the annual World Green Economy Summit (WGES) 2018. WGES, which will be held October 24-25, will encourage political and corporate leaders to exchange views on how to best use their authority to engage society ...

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• 6 August

  South Sudan rivals sign deal seeking to end five-year war

  

  Bloomberg South Sudan’s warring parties signed a peace deal granting rebels key positions in a transitional government, the latest bid to end an almost five-year conflict that’s claimed tens of thousands of lives. The accord will restore rebel leader Riek Machar as President Salva Kiir’s deputy, while appointing four other vice presidents and adding new posts for ministers and lawmakers. ...

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• 6 August

  Saudi Arabia recalls envoy from Canada

  JEDDAH / WAM The Kingdom of Saudi Arabia has suspended diplomatic ties and halted new trade and investment dealings with Canada. The move comes following a statement released by the Canadian Ministry of Foreign Affairs on the arrest of a women’s rights activist. According to the Saudi Press Agency, SPA, the Kingdom’s Ministry of Foreign Affairs expressed its “disbelief” by ...

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• 6 August

  Last Russia probe in US Congress may continue beyond election

  

  Bloomberg The Senate Intelligence Committee’s bipartisan Russia probe is increasingly likely to stretch past the midterm elections, as the panel plans to interview more witnesses for a final report detailing its findings, including on the actions of Donald Trump’s 2016 campaign. Panel chairman Richard Burr of North Carolina had wanted to wrap up his probe well before the November congressional ...

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• 6 August

  Buhari faces risk as support wanes in north

  

  Bloomberg Nigerian President Muhammadu Buhari’s re-election bid is facing a growing challenge as members of his party defect to the opposition and support diminishes in a key region that’s stood by him politically for 15 years: the north. Home to about 40 percent of the West African nation’s voters, Nigeria’s North East and North West regions have long been Buhari’s ...

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• 6 August

  Imran Khan’s party claims majority post coalition talks

  Bloomberg Imran Khan’s party said it has formed a majority in Pakistan’s parliament after coalition talks with smaller groups and independent lawmakers, paving the way for the former cricket star to take over as prime minister. The Pakistan Tehreek-e-Insaf, or Movement for Justice, has 174 members of the national assembly on its side so far, above the 172 needed for ...

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• 6 August

  Pepsi’s first female CEO to end 12-year run, replaced by insider

  

  Bloomberg Indra Nooyi is stepping down as chief executive officer of food and beverage giant PepsiCo Inc., handing the reins to a top lieutenant in a transition that will draw attention to the dearth of prominent female CEOs in corporate America. Nooyi, 62, will leave the role in October and remain chairman until early 2019. Ramon Laguarta, 54, who has ...

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• 6 August

  Trade spats weigh on German manufacturers

  

  Bloomberg German manufacturers took a hit in June as a slide in overseas demand knocked factory orders amid escalating trade tensions. Orders fell 4 percent from the previous month — eight times as much as forecast in a Bloomberg survey of economists — and the 0.8 percent drop from a year ago was the first annual decline since 2016. The ...

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