Emirates Glass produces $49m worth of products

DUBAI / Emirates Business Emirates Glass, a subsidiary of Dubai Investments PJSC and one of the largest processors of flat architectural glass in the Middle East, announced that it has recorded manufacturing of more than 1,800,000sqm of glass products, valued at over AED 180 million ($49 million) during 2019. Recording a 10% rise in business as compared to the previous year, ...

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AIM 2020 to identify best national champion start-up

Dubai / WAM More than 250 start-ups are expected to participate in the AIM Startup Pitch Competition, which will be held on the sidelines of the 10th edition of the Annual Investment Meeting (AIM 2020), slated to take place at the Dubai World Trade Centre from March 24-26. AIM 2020 will offer start-up exhibitors an opportunity to showcase their businesses ...

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Empower to participate in World Future Energy Summit 2020

DUBAI / WAM Emirates Central Cooling Systems Corporation, Empower, announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world’s largest annual conference on renewable and future energy solutions. The summit is being held from January 13-16 at the Abu Dhabi National Exhibition Centre (Adnec). The World Future Energy Summit 2020 is a global industry ...

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HK’s first digital bank offers 6% rate that dwarfs HSBC’s

Bloomberg The first of Hong Kong’s new generation of digital banks has announced its arrival with a 6% introductory rate for deposits. ZA Bank Ltd, one of eight firms preparing to start digital-only banks in Hong Kong, has begun a trial run that pays a select group of depositors over 3 percentage points more than banks such as HSBC Holdings ...

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Danske’s cost burden keeps growing in an age of bank scandals

Bloomberg At Danske Bank A/S, the cost of adapting to a world intensely focused on financial crime just keeps growing. In an interview in Stockholm, the chief executive of Danske in Sweden, Johanna Norberg, said “the peak” level of investment to meet anti-money laundering requirements has “not yet been reached.” The 48-year-old has been running Danske’s operations in the biggest ...

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Citi sees better year for commodities

Bloomberg Expectations of global growth and particularly in emerging markets mean this year is likely to be positive for commodities but with a number of wild cards, according to Citigroup Inc. The US and China, which hold outsized sway over the world’s economic fortunes, both may have policies that skew towards higher global growth, strategists led by global head of ...

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Russian billionaire sues Nordic banks

Bloomberg Should banks be forced to accept a client who could be on the wrong side of the law? A court in Finland is about to decide the answer to that question, and its verdict may have far-reaching implications. Russian billionaire Boris Rotenberg is suing four Nordic banks for not doing business with him. The oligarch, an associate of President ...

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UK economic data slew greets BOE officials debating rate cut

Bloomberg Bank of England (BOE) policy makers considering whether the UK needs further stimulus will get a deluge of data in the coming week. The economy is back under the microscope after outgoing Governor Mark Carney last week said officials are debating the merits of action and have plenty of room to act if necessary. A day later, Silvana Tenreyro ...

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China will ramp up infra spending in 2020: JPMorgan

Bloomberg China’s fiscal stimulus is shifting back to a focus on infrastructure investment, away from the approach of cutting taxes for businesses the government favored in previous years, according to economists at JPMorgan Chase & Co. “We expect no major further tax cuts in 2020, though the effect of tax cuts will linger into this year,” JPMorgan economists including Zhu ...

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US mulls reviving semi-annual talks with China for reforms

Bloomberg The Treasury Department is proposing that the Trump administration revive twice-yearly talks with China to discuss the economic relationship between the countries, according to people familiar with the matter. The talks — if they go ahead — would be separate from phase-two negotiations on a further trade deal that president Donald Trump has said he wants to start “right ...

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