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Migrants Sent Record $466 Billion Home in 2017: World Bank
(Bloomberg) – 24-4-2018. The world’s 266 million migrant workers sent a record $466 billion to developing countries last year following two consecutive declines and the money bound for home this year is projected to increase to $485 billion, according to the World Bank.
Saudi Aramco to Lift Oil-Trading Volume to 6 Million Barrels/Day
(Bloomberg) – 24-4-2018. Saudi Aramco, the world’s biggest oil exporter, plans to trade as much as 6 million barrels a day, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products.
Arab World's Top-Performing Stock Joins the $10 Billion Club
(Bloomberg) –23/04/2018. It has risen a whopping 1,650 percent since it started trading six years ago, more than any other company based in the Arab world.
Saudi Central Bank to Drain Liquidity to Counter Fed, Libor Rise
(Bloomberg) –23/04/2018. Saudi Arabia’s central bank plans to drain excess liquidity from the banking system to mitigate pressure on the riyal’s peg to the dollar as U.S. interest rates rise, Governor Ahmed Abdulkarim Alkholifey said.
World Bank shareholders approve $13 bln capital increase
(Agence France Presse) –23/04/2018. World Bank shareholders approved a 'historic' increase in the bank's lending capacity Saturday after the United States backed a reform package that curbs loans and charges more for higher income countries like China.
Libya’s Oil Output Slumps after Fire at Pipeline to Key Port
(Bloomberg) –23/04/2018. An attack on an oil pipeline supplying Libya’s biggest export terminal has reduced the North African country’s production by at least 80,000 barrels a day and would take several days to repair, the National Oil Corp. said Sunday.
Abraaj Said to Delay Hospital IPO as Firm Pursues CIRA Disposal
(Bloomberg) –23/04/2018. Abraaj Group, roiled by allegations of misused money, is delaying the initial public offering or sale of its North African hospitals business while it seeks to resolve issues with investors, according to people with knowledge of the matter.
Lira's Fate Tops Bill in Week of Emerging-Market Rate Decisions
(Bloomberg) –23/04/2018. Traders remain more bearish on Turkey’s lira and Russia’s ruble than any of their emerging-market peers just as the two countries’ central banks gear up for rate decisions.
Central Banks Fret Trade War More Deflationary than Inflationary
(Bloomberg) –23/04/2018. Global central bankers sounded the alert that a trade war would leave them worrying more about the economic fallout than any boost tariffs would give to inflation.
Merkel stresses importance of free trade ahead of visit to U.S.
(Reuters) –23/04/2018. German Chancellor Angela Merkel on Sunday stressed the importance of free trade and welcomed an agreement between the European Union and Mexico on a new trade pact just days before she heads to Washington for talks with President Donald Trump.
IMF's Lagarde warns against harming trade, investment
(Agence France Presse) – 20-4-2018. Governments must take care, even when there are disagreements, to avoid harming trade and investment which have been key drivers of the global economic recovery, IMF chief Christine Lagarde said Thursday.
Lagarde urges countries to settle trade disputes, cut debt
(Associated Press) – 20-4-2018. The head of the International Monetary Fund is urging countries to work out their differences over trade and take advantage of a healthy world economy to reduce debt before the next downturn comes.
Too battered to fail: Gulf bonds a safe place to hide
(Reuters) – 20-4-2018. Investors’ appetite for risk is back, but most of the issues that soured the mood across emerging markets last week are a tweet away from flaring up again. When that happens, the Gulf’s beleaguered bonds will offer refuge.
Abu Dhabi industrial zone attracts $1 bln FDI from China
(Reuters) – 20-4-2018. Foreign direct investments from Chinese companies in Abu Dhabi’s industrial free zone has touched $1 billion in less than a year and is expected to rise when the UAE’s new investment law takes effect, officials said Thursday.
Deutsche Bank Inadvertently Made a $35 Billion Payment in a Single Transaction
(Bloomberg) – 20-4-2018. A routine payment went awry at Deutsche Bank AG last month when Germany’s biggest lender inadvertently sent 28 billion euros ($35 billion) to an exchange as part of its daily dealings in derivatives, according to a person familiar with the matter.
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UAB Magazine - Issue 448 March 2018