August, 2017

• 8 August

  Bank-union skepticism abounds in Denmark

  

  Bloomberg As Denmark reconsiders joining Europe’s bank union, the two biggest parties in the country’s parliament are voicing considerable skepticism. The divisions suggest it’s far from obvious that Denmark will become part of a union that so far only counts euro-zone nations. The minority coalition of Prime Minister Lars Lokke Rasmussen has given itself two years to decide. The EU-skeptic ...

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• 8 August

  Volcker rule revision ideas solicited by US banking regulator

  Bloomberg Wall Street banks are being invited by one of their key watchdogs to offer guidance for how to revise the Volcker Rule, one of the industry’s least favourite regulations. The Office of the Comptroller of the Currency said that it is seeking public comment on the Dodd-Frank Act measure that restricts banks’ ability to place market bets with their ...

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• 8 August

  CBA boss loses bonus over money-laundering suit

  

  Bloomberg Commonwealth Bank of Australia (CBA) Chief Executive Officer Ian Narev has been stripped of his short-term bonus as the lender battles to contain the fallout from allegations it breached money-laundering and terrorist-financing laws more than 50,000 times. The board decided to scrap short-term bonuses for Narev and other senior executives after “consideration to risk and reputation matters impacting the ...

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• 8 August

  The Bank of England, 1914 war loans and a patriotic cover-up

  

  Bloomberg The Bank of England secretly plugged a multi-million-pound hole in Britain’s finances during World War I, covering up the failure of one country’s apparent patriotic triumphs. In the early days of the war in 1914, the government sought to raise 350 million pounds—about 38 billion pounds today— through the issuance of a War Loans, with 250 million pounds of ...

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• 7 August

  AED10 billion tenders processed in Abu Dhabi

  

  ABU DHABI / Emirates Business Abu Dhabi’s Department of Finance has announced that the ‘Al Maqta’a bidding hall’ processed tenders worth AED as much as 10,260,975,489 from ten different government entities in the Emirate of Abu Dhabi during the first half of 2017. The aim behind Al Maqta’a is to enhance transparency, competitiveness, and open-ness pertaining to tenders issued by ...

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• 7 August

  UAE banks’ ATMs reach 5219 ’

  ABU DHABI / WAM In yet another indicator of the growth in economic sentiments in the country, the number of ATM operated by banks in the UAE hit a total of 5219 by end of H1, an increase of 2% from 5118 in same period in 2016, according to UAE Central Bank statistics. The continual rise in ATMs in country ...

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• 7 August

  Abu Dhabi events licensing system sees 19.5% growth in applications

  ABU DHABI / WAM The Abu Dhabi Events Licensing System (ELS), which was launched earlier during the year by Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) has experienced unprecedented growth of 19.5 percent in total applications between Q1 and Q2. About 9,002 applications covering all types of events were submitted during the first half of 2017.

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• 7 August

  Al Hilal Bank issues $100mn private sukuk

  DUBAI/ Reuters Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk, or Islamic bonds, sources familiar with the matter said on Monday. The issue, led by First Abu Dhabi Bank, has a two-year maturity and offers 90 basis points over three-month London Interbank Offered Rate (Libor). The bank, an Islamic lender, issued a ...

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• 7 August

  June traffic at AUH reaches 1.7mn

  

  Dubai / Emirates Business Abu Dhabi International Airport (AUH) handled 11,928.609 passengers between January 2017 and June 2017, compared to 11,848,359 during the same period last year, registering an increase of 0.7%. As many as 1,763,103 passengers used the airport during the month of June 2017, registering as much as 5.3 % drop in traffic compared with the same month ...

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• 7 August

  Mohammed tours Expo 2020 Dubai site

  

  DUBAI / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, visited the Expo 2020 Dubai Site Office and said he was encouraged by the developments on site. During the visit, His Highness was accompanied by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of ...

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