August, 2016

• 16 August

  Anbang leaves another target waiting

    China’s Anbang Insurance Group is stretching the definition of time with its planned acquisition of U.S. insurer Fidelity & Guaranty Life. It’s been more than 10 weeks since the Beijing-based company withdrew its approval request with the New York Department of Financial Services for its $1.6 billion acquisition of the life insurer, saying it planned to refile “in the ...

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• 16 August

  Innovation key to UAE’s economic diversification

    UAE has bettered its global position in innovation. The country ranked first among Arab countries and 41st worldwide in terms of overall performance on 2016 Global Innovation Index, which was announced at the UN headquarters in Geneva. It is up from second in the Arab World and 47th globally in 2015. The Innovation has taken the centre stage as ...

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• 16 August

  European stocks hit 2-week low as carmakers fall

  

    Bloomberg European stocks retreated in thin trading, after briefly paring losses, as a stronger euro weighed on exporters. Carmakers were among the biggest losers in industry groups as subdued prospects for a Federal Reserve rate increase this year weakened the dollar, sending the euro higher. Volkswagen AG slipped 1.7 percent after a report the US Department of Justice was ...

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• 16 August

  Qatar leads Gulf up, Dubai testing chart barrier

    Bloomberg Qatar’s stock market led the Gulf higher early on Tuesday, boosted by a surge in blue chips such as Qatar National Bank (QNB), while Dubai tested technical resistance. The Qatari stock index climbed 2.1 percent as QNB, the country’s biggest bank, jumped 4.4 percent to 165.00 riyals in unusually heavy trade, rising above resistance on last September’s peak ...

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• 16 August

  Emerging-market bull momentum stalls as Dudley warns on rates

  Bloomberg A rally in emerging-market assets ran out of steam after a Federal Reserve official said markets are underestimating the likelihood of a U.S. rate increase this year. The MSCI Emerging Markets Index surrendered a ninth day of gains after New York Fed President William Dudley said borrowing costs could go up as soon as next month. The currency gauge ...

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• 16 August

  DFA ranks as world’s most attractive business acceleration programme

  

    Dubai / Emirates Business The Dubai Future Accelerators (DFA) programme received an unprecedented number of submissions for the first cycle of its programme, which begins September 12. Over 2,200 companies from 73 countries, on all 7 continents, applied to be a part of the first cycle of the program; including one submission from scientists in Antarctica! Applications poured in ...

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• 16 August

  2nd phase of Mohammed bin Rashid Solar Park to be operational by April

  

    Dubai / Emirates Business HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), visited the Mohammed bin Rashid Solar Park (MBRSP), in Seih Al-Dahal, Dubai. The Park’s ongoing projects support the Dubai Clean Energy Strategy 2050, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE ...

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• 16 August

  DHA forms Corporate Excellence Council

  

    Dubai / WAM The Dubai Health Authority (DHA) formed a Corporate Excellence Council to ensure provision of high quality health services and continuous innovation and development in the medical field in Dubai. The council is chaired by Humaid Al Qatami, Chairman of the Board and Director-General of the DHA. It will focus on a number of pertinent initiatives such as ...

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• 16 August

  wasl develops ‘customer happiness centres’

  

    Dubai / Emirates Business wasl properties, the leading real estate management company, a subsidiary of wasl Asset Management Group, have announced that all of its Dubai customer service centres have become ‘Customer Happiness Centres’. The new initiative is in line with the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE ...

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• 16 August

  Russia conducts first Syria airstrikes from Iran base

  

    Moscow / AFP Russian warplanes on Tuesday flew a bombing run from an Iranian airstrip against extremist groups in war-torn Syria, the defence ministry said — the first time Moscow has reported using an Iranian air base. The raids mark the first time that Russia has publicly stated that it has used a base in a Middle East country ...

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