November, 2016

• 27 November

  Average rents in Sharjah 38% cheaper than 2008

  

    Sharjah / Emirates Business Average rents in Sharjah are still 38% cheaper than in 2008, as additional supply keeps rates from increasing rapidly, according to the UAE Property Review Q3 2016 report from leading real estate consultancy Asteco. The report revealed the Northern Emirates property market is stable. Sharjah apartment rents saw minimal changes in Q3, down by only ...

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• 27 November

  ADFD organises patriotic festivities

    Abu Dhabi / Emirates Business Abu Dhabi Fund for Development (ADFD), on Sunday organised patriotic festivities in observance of the 45th National Day of the UAE. ADFD exemplified UAE pride, glory and triumph with a series of traditional activities and Memorabilia Museum. On this occasion, His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development ...

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• 27 November

  UAE showcases global leadership on climate action at Marrakech

  

    Dubai / Emirates Business World leaders and official government delegations attending the recently concluded 22nd session of the Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) in Marrakech renewed their commitment to translating the outcomes of the Paris Climate Agreement into concrete steps and successful projects towards reducing the impact of global warming ...

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• 27 November

  Indian central bank takes steps to curb rising bank liquidity

  

    Bloomberg The Reserve Bank of India told lenders to set aside more deposits as reserves to curtail surging banking system liquidity that risks stoking inflation. Banking system funds have surged after Prime Minister Narendra Modi banned 500 rupee ($7.30) and 1,000 rupee notes in a bid to curb graft and ordered people to deposit the money in banks. That ...

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• 27 November

  Argentina banks zero in on tax evaders’ $7bn

  

    Bloomberg One of the biggest priorities for Argentina’s banks will be convincing tax evaders who accepted an amnesty deal and declared $7 billion of cash to keep their money in the country, said BBVA Banco Frances SA Chief Executive Officer Martin Zarich. Argentines can choose to either pay a 10 percent fine, or buy into government bonds and closed-end ...

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• 27 November

  Nordic Bank chairman predicts better times

  

    Bloomberg The chairman of the biggest Nordic bank says Donald Trump’s election win is good news for the US economy, thanks to the real estate mogul’s pledge to deliver tax cuts and deregulation. “Based on the expectation that the American President and Congress are likely to act on taxes, and perhaps on regulation as well, I think there is ...

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• 27 November

  Zimbabwe’s bond notes to help ease currency crunch

  

    Bloomberg Zimbabwe will release dollar-backed bond notes with a daily withdrawal limit of $50 on November 28, the central bank said, as the Southern African nation grapples with a shortage of currency. “The bond notes will be released into the market through normal banking channels in small denominations of $2 and $5 to fund export incentives of 5 percent ...

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• 27 November

  Payments company Stripe doubles valuation to $9bn

  

    Bloomberg Stripe Inc. raised new financing that values the startup at about $9 billion, cementing its status as a major player in the crowded digital payments space and heralding a possible initial public offering. CapitalG, the late-stage investment arm of Alphabet Inc., and venture capital firm General Catalyst Partners led the $150 million round, with participation from existing investors ...

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• 27 November

  Goldman raises WTI price forecast

    Bloomberg Goldman Sachs Group Inc. raised its oil-price forecast for early next year, while Russia, Iran and Iraq separately signaled optimism that producer nations will be able to reach a deal to limit output at OPEC’s next meeting on November 30. Goldman is now “tactically bullish” on the likelihood of an OPEC agreement and expects oil prices in New ...

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• 27 November

  AirAsia’s new lease of life risks an erosion of income

  

    Bloomberg How do airlines make money? You might be tempted to answer, “by selling plane tickets.” But it’s rarely as simple as that. Take AirAsia Bhd., the Malaysian budget carrier that reported third-quarter results on Thursday. It’s become so dominant in Southeast Asia that rivals have started ganging up on it. Yet you have to go back as far ...

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