July, 2016

• 24 July

  Online wave sweeps banking sector

  

    RITIKA SHARMA / Emirates Business A testimony to the rising popularity and acceptance of digital banking in UAE, a recent report affirms that use of online apps is on a rise in the country. Banking and finance apps usage has more than doubled in recent years, putting a full stop to all speculations about approval of technology in bank ...

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• 24 July

  MBLM launches ‘I Drink Local’ mobile app

  

    Emirates Business MBLM, the Brand Intimacy Agency focused on strategy, design, creative and technology, announced today the launch of its ‘I Drink Local’ mobile app for the iPhone and Android. I Drink Local is an MBLM initiative created to promote the consumption of local water for a more sustainable environment and reduction of our carbon footprint. The new app ...

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• 24 July

  Experts stress on need to secure digital payments from cyber threat

  

    ALKESH SHARMA / Emirates Business As reports predict that whopping revenue of US$2 trillion will be generated through digital payments globally by 2020, experts also press for the need of having secure networks for the companies to ensure there is no cyber money heist. Industry veterans say that with astonishing rise in the users of digital payment platforms, these ...

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• 24 July

  Brexit is not Asia’s only worry

  

    The “spanner in the works” thrown by Brexit at the global economy has failed to massively dent Asia’s growth prospects. But amid warnings of another Asian financial crisis, not everyone is sanguine on the outlook. In its latest “World Economic Outlook” report, the International Monetary Fund (IMF) decided on Tuesday to cut its forecasts for global economic growth for ...

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• 24 July

  The cost of interlinking India’s rivers

  

    Sudha Ramachandran SPECIAL TO EMIRATES BUSINESS India’s ambitious plan to interlink rivers to achieve greater equity in the distribution of water in the country reached an important milestone on July 6, when water from the Godavari, its second-longest river, rushed to meet the fourth-longest, the Krishna. The two became the first of 30 rivers to be linked under the ...

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• 24 July

  Saudi stocks lead Gulf equity drop as trading volumes plummet

  

    Bloomberg Saudi Arabian stocks led a retreat across Gulf Arab equities as trading volumes plunged. Four benchmark gauges in the six-nation Gulf Cooperation Council declined, with Bloomberg’s GCC 200 Index posting its longest losing streak in two months. Saudi Arabia’s Tadawul All Share Index dropped 1.2 percent as trading volumes sank 23 percent below the six-month average. Dubai’s DFM ...

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• 24 July

  Buying deepest stock dips in 2016 returned three times S&P 500

  

    Bloomberg It’s been a great year for catching falling knives. The buy-the-dip strategy that’s been a hallmark of the U.S. stock rally is outdoing itself in 2016, where buying stocks in the most extreme state of free fall is paying like rarely before. An index tracking shares in the Russell 3000 Index that register as “oversold” on a momentum ...

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• 24 July

  American to defer 22 Airbus A350s to slow spending

  

    Bloomberg American Airlines Group Inc. will defer delivery of 22 wide-body aircraft to spread out more than $1 billion in spending. The world’s largest airline reached an agreement with Airbus Group SE to take A350 XWB aircraft from late 2018 through 2022, deferring each plane’s arrival by an average of 26 months. American previously was to get the first ...

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• 24 July

  Solar Impulse 2 leaves Egypt for final leg to AUH

  

    CAIRO / AFP The first solar-powered plane to circle the world took off from Cairo on Sunday for Abu Dhabi, in the final leg of its journey. Swiss pilot Bertrand Piccard was behind the controls of Solar Impulse 2, which can fly for days on only energy from the sun. “It’s a project for energy, for a better world,” ...

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• 24 July

  Ahold, Delhaize finalise mega-merger on US nod

  

    HAGUE / AFP Dutch retail giant Ahold and Belgian rival Delhaize have announced that they have finalised their mega-merger after US regulatory authorities gave the union the green light. Both groups said they had inked an agreement to take effect from 2201 GMT after the Federal Trade Commission gave its assent. The FTC had earlier said the sale of ...

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