September, 2018

• 3 September

  ECB’s Mersch calls for Europe’s own global payment services

  Bloomberg European Central Bank policy maker Yves Mersch called on Europe to develop its own global card payment services to compete with international peers and as a defense against any further escalation in geopolitical tension. Noting the dominance of California-based PayPal for online payments, and the services offered by Alphabet, Apple, Facebook and Amazon, Mersch warned that European providers such ...

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• 3 September

  Rupee weakness poses ‘dilemma’ for RBI at October meeting

  

  Bloomberg A sustained weakness in the rupee may push the Reserve Bank of India to further tighten monetary policy, perhaps as early as next month, JPMorgan Chase and Co.’s chief India economist Sajjid Chinoy said. “The RBI meeting becomes an interesting dilemma,” Chinoy told Bloomberg Television in an interview, adding that after two interest rate hikes since June, he, like ...

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• 3 September

  Pratt assesses neo engine fault as FAA weighs action

  

  Bloomberg Pratt & Whitney is investigating incidents of excessive vibration in its engines that power Airbus SE’s A320neo aircraft, the latest in a series of problems that have plagued the new turbine, according to people familiar with the matter. The US manufacturer, a unit of Farmington, Connecticut-based United Technologies Corp., has yet to identify the cause and is assessing if ...

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• 3 September

  AirAsia’s Chinese dreams suffer blow after deal collapses

  

  Bloomberg AirAsia Group Bhd.’s planned foray into China for a wider regional footprint suffered a setback after Southeast Asia’s largest budget airline failed to secure a deal with its local partners to tap the world’s second-biggest aviation market. A preliminary agreement signed last year for a venture with China Everbright Group and the Henan government has lapsed and won’t be ...

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• 3 September

  Airbus to aid China probe of A320 missing wheels

  Bloomberg Airbus SE said it will help Chinese authorities investigate an incident in Shenzhen this week, when the crew of an A320 commercial jet requested emergency landing after reporting troubles, and later found the two nose wheels missing. Capital Airlines flight JD5759 from Beijing, with 166 aboard, encountered severe wind shear while attempting to land in Macau on Aug. 28, ...

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• 3 September

  JD turns to Google, Walmart to build global e-comm empire

  

  Bloomberg Richard Liu built an e-commerce giant in China by tapping into the nation’s appetite for technology. As his JD.com Inc. sets its sights on global expansion, he’s turning to others for help: Google and Walmart Inc. Just a few months after Google bought a $550 million stake in JD, Liu said he’s in the early stages of strategic planning ...

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• 2 September

  Transformational sectors add 11.8% to non-oil GDP

  Abu Dhabi / WAM Transformational industries’ contribution to non-oil GDP increased to 11.8 percent by fixed prices until the end of 2017 from 11.7 percent in 2016 and 11.5 percent in 2015, according to the UAE Ministry of Economy’s statistics. The growth reflects the significant achievements made by the transformational industries over the past five years, during which they have ...

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• 2 September

  ADM receives Arab corporate excellence award

  

  ABU DHABI / WAM The Abu Dhabi City Municipality (ADM), won the corporate excellence award among Arab departments, during a ceremony held by the Excellence Awards Academy in Sharm Al-Sheikh, Egypt. Humaid Rashid Al Diri’ee, Acting Executive Director of Strategic Planning and Performance Management, received the award on behalf of the municipality. “The municipality was a worthy winner of this ...

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• 2 September

  ADX-listed firms’ market cap hit AED526 billion

  

  ABU DHABI / WAM Abu Dhabi Securities Exchange’s (ADX) listed companies market cap reached AED526 billion ($143.3 billion), by the end of August; with a remarkable increase in ADX general index by 13.4% from the start of 2018. By the end of August sessions, the market capitalisation of domestic public companies listed on ADX increased to AED495 billion compared with ...

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• 2 September

  DED launches awareness campaign for businesses

  DUBAI / WAM The Department of Economic Development (DED) in Dubai, as part of its ‘Commercial Commitment Day’ initiative, will set out to enhance awareness among the business community on their rights and responsibilities as well as on ensuring better compliance with laws and regulations relating to doing business thereby avoiding fines and other penalties. A designated team from the ...

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