June, 2017

• 20 June

  Saudi banks rally post MSCI rules on emerging markets tag

  

  Bloomberg Bank and insurance shares jumped in Saudi Arabia hours before the country learns whether it may begin the formal process to become classified as an emerging market by MSCI Inc., a development that might boost its stock market for months. The banking sector of the Tadawul All Share index leaped 4 percent and closed at the highest level this ...

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• 20 June

  Goldman Sachs to double Frankfurt staff on Brexit

  

  Bloomberg Goldman Sachs Group Inc. is shifting personnel away from London as formal negotiations on the U.K.’s exit from the European Union which began on Monday, according to the bank’s regional head, Richard Gnodde. “We started to shift resources to Frankfurt and other European cities,” Gnodde told Frankfurter Allgemeine Zeitung in an interview. Goldman Sachs will “very probably” at least ...

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• 19 June

  France’s Engie to buy 40% stake in Tabreed

  

  Abu Dhabi / WAM The National Central Cooling Company, Tabreed, the leading regional UAE-based district cooling utility company, has announced that Engie is making an investment of approximately AED 2.8 billion to become a significant shareholder in the utility company. Headquartered in France, Engie is a multinational energy leader and expert operator in the business of electricity, natural gas and ...

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• 19 June

  ‘UAE Youth’ to empower Emiratis to lead future

  DUBAI / WAM The UAE Government Leaders Programme (UAEGLP) launched a new category ‘UAE Youth’ Programme, in collaboration with the Emirates Youth Council, to empower and prepare competent young nationals to lead the country’s future across all strategic sectors. The new category is the fourth to be added to the wider UAE Government Leaders Programme, which also includes the Strategic ...

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• 19 June

  ADGM-TechPreneur Africa deal to support fintech growth in MEA

  

  Abu Dhabi / WAM TechPreneur Africa, a social impact firm which focusses on harnessing innovation and entrepreneurship to achieve real economic impact across Africa, has signed a Memorandum of Understanding (MoU) with the Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, to foster and support the growth and activities of FinTech in the Middle East and ...

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• 19 June

  155.5 billion securities traded in UAE stock markets in 2016

  Abu Dhabi / WAM With a total traded volume of 155.5bn securities, the UAE capital markets topped list of GCC most liquid markets in 2016, with Saudi Stock Exchange coming second with a total of 67.7bn securities. The UAE financial markets came second only to Saudi Arabia in terms of market value, which amounted in 2016 to AED817bn, US$222bn, with ...

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• 19 June

  SEDD launches initiative to develop industrial sector

  SHARJAH / WAM Sharjah Economic Development Department (SEDD) has launched a consultancy service to develop the industrial sector and streamline its procedures in the emirate. The service has been developed due to the fact that Sharjah has an excellent investment environment, especially in the industrial sector, in addition to its strategic location and its ownership of a large number of ...

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• 19 June

  Jawaher Al Qasimi urges world leaders to ramp up peace efforts

  

  SHARJAH / WAM H.H. Sheikha Jawaher bint Mohammed Al Qasimi, wife of H.H. the Ruler of Sharjah, UNHCR Eminent Advocate for Refugee Children and Chairperson of the Big Heart Foundation (TBHF), has strongly urged world leaders to escalate all relief efforts to control the unprecedented global refugee crisis, restoring peace and stability in countries and regions affected by war and ...

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• 19 June

  Emaar draws record AED88mn worth of transactions on Monday

  Abu Dhabi / WAM In yet a new bullish sign of its ability to break new highs over the coming few days and to further stir the market appetite, Emaar broke the AED8.00 mark for the second time in two weeks, drawing transactions worth AED88 million on Monday. Analysts attributed the upbeat sentiments that prevailed today to Emaar’s outperformance, specially ...

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• 19 June

  SEWA approves 8,325 schematics, project designs

  

  SHARJAH / WAM The Sharjah Electricity and Water Authority (SEWA), has announced that 8,325 schematics and project designs have been approved from the beginning of this year until mid-June 2017 through the Smart Plan service launched by the Common Services Management at the Authority. The approved plans include 4,565 smart plans for electricity projects, 1,691 smart plans for water, and ...

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