June, 2016

• 28 June

  Brexit turmoil to affect Deutsche Bank

  

    Bloomberg Soros Fund Management took a short position in Deutsche Bank AG of about 7 million shares as turmoil from the UK’s decision to leave the European Union sent bank stocks lower. The position taken was equivalent to 0.51 percent of Deutsche Bank’s share capital, according to a German filing. The document doesn’t show at which price the fund ...

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• 28 June

  Russia takes US$6.2billion bite out of banks

  

    Bloomberg It’s been blamed for fighting inflation at the expense of the economy and turning its targets into ‘fetishes.’ Now Russian lenders say the central bank’s latest swipe at price risks is putting pressure on their bottom line and credit. Reserve-ratio requirements will be increased by 75 basis points from Aug 1 for ruble and foreign-currency liabilities, policy makers ...

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• 28 June

  Draghi calls for global policy alignment

  

    Bloomberg European Central Bank President Mario Draghi avoided mentioning the UK’s vote to leave the European Union and called for greater alignment of policies globally to mitigate the spillover risks from ultra-loose monetary measures. “We can benefit from alignment of policies,” Draghi said at the ECB Forum in Sintra, Portugal. “What I mean by alignment is a shared diagnosis ...

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• 28 June

  Private banks urge wealthy Asians to avoid risk and favour credit

  

    Bloomberg Here’s some advice that wealthy Asians are getting from their private bankers after Britain’s vote to quit the European Union has thrown markets in turmoil: Add to corporate credit, avoid risky assets and expect UK property prices to drop. Credit Suisse Group AG, Citigroup Inc and United Overseas Bank Ltd are telling clients that higher-quality corporate bonds are ...

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• 28 June

  BOJ dollar operation attracts largest bids

  

    Bloomberg The Bank of Japan offered to supply US$1.475 billion at a regular dollar funding operation after global financial markets plunged in the wake of the UK’s referendum to leave the European Union. The funding covers the period from June 30 to July 8 and was the biggest amount accepted since the end of December 2014, when US$1.528 billion ...

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• 28 June

  It’s a tech era in financial sector

  

    RITIKA SHARMA / Emirates Business Governments of the GCC nations are being lauded by experts globally for their unwavering drive towards innovation in the segment of financial technology, commonly known as ‘FinTech’. Gauging its long-term rewards and sustainability in the financial sector, UAE is working towards enhancing the FinTech infrastructure by connecting stakeholders to support innovations upto the optimum ...

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• 28 June

  Explore the best of Sharjah this summer

  

    SHARJAH / Emirates Business Sharjah is known for its natural beauty and attractive manmade lagoons and parks, making it a favourite destination for families any time of the year, especially during the summer when schools in the region close for summer vacation. As the region celebrates Ramadan, summer this year has become all the more special for visitors to ...

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• 28 June

  MEA exhibitions industry boosts job opportunities

  

    RITIKA SHARMA / Emirates Business Industry leaders and stakeholders active in the exhibitions industry in the Middle East and Africa (MEA) region are playing a major role in stabilising the regional economy by creating thousands of jobs every year, experts emphasise. Figures state that the region hosts around 30,000 exhibitions per year and they typically generate upto 680,000 full-time ...

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• 28 June

  Emirates NBD-WPR tie-up to offer zero pc payment to secure assets

  

    Dubai / Emirates Business DIFC Wills & Probate Registry (WPR) has announced a major new partnership with Emirates NBD, one of the leading banks in the region, according to which individuals who want to secure their assets in Dubai can now do so for a manageable monthly cost. The landmark new relationship will see Emirates NBD, one of the ...

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• 28 June

  Nissan new drone to race 100 km/h in 1.3 sec

  

    Dubai / Emirates Business Nissan recently unveiled the GT-R Drone – one of the fastest accelerating FPV (First Person View) racing drones in the world. Built to be able to keep up with the new 2017 Nissan GT-R while filming on the track, the drone features the very latest in performance-enhancing technology, just like its automotive equivalent. Custom designed ...

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