Bloomberg Technology stocks led a broad rally in Chinese equities on Friday as the nation’s top leaders vowed to boost economic stimulus and as speculation grew about a possible easing of the continued crackdown on internet firms. The Hang Seng Tech Index jumped 10% in Hong Kong, the most since March 16, led by names like Alibaba Group Holding Ltd. ...

Bloomberg The yen’s plunge to a 20-year low threatens to leave it significantly weaker for years to come, shaking up global money flows and undermining Japan’s efforts to get its fragile economy back on track. The speed of the decline — it’s slumped 11% against the dollar in seven weeks — has caught policy makers off guard and exposed divisions ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) has reported its financial results for the three-month period ended March 31. The group produced a strong set of results with a net profit of AED5.1 billion, up 107 percent from AED2.5 billion in the first quarter of 2022. The results represent the highest quarterly net profit in the bank’s ...

Abu Dhabi / WAM The General Pension and Social Security Authority (GPSSA) revealed that value of government support for Emiratis working in private sector, as part of the contribution calculation salary, reached AED87.74 million in 2021. Ibrahim Shukralla, Head of GPSSA’s Government Communications Office, said the total share of monthly contributions due from insured individuals employed in government and private ...

  Abu Dhabi / WAM The Abu Dhabi Department of Economic Development (Added) signed an agreement with First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), and Abu Dhabi Islamic Bank (ADIB) to provide “easy payment plan” service, enabling credit card holders issued by these banks to pay the charges for the services provided ...

  DUBAI / WAM The Dubai Free Zones Council (DFZ Council) held its 20th meeting, headed by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the DFZ Council. During the meeting, HH Sheikh Ahmed noted that Dubai’s free zones, continuing to develop their services throughout the current decade in line with the demands of new economic opportunities, are on ...

  DUBAI / WAM Jebel Ali Free Zone (Jafza), DP World’s leading trade and logistics hub, held a ground-breaking ceremony for the first phase of its new “Jafza Logistics Park”, which is scheduled for completion in 2023. The purpose-built trading and logistics development will accommodate the growing number of warehousing, processing and logistics activities carried out in Dubai. The ground-breaking ...

  DUBAI / Gulf Time flydubai, the Dubai-based airline, has announced on Thursday that it is expecting a record number of passengers to travel during the Eid Al Fitr break. The carrier has seen an increase in demand for flights to its popular destinations which includes Baku, Colombo, Istanbul and Maldives as well as some of its more recently launched ...

  Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (FANR) has approved FANR’s strategy for 2023 to 2026, where it details its future roadmap in regulating the nuclear and radiological sectors in the UAE. The strategy focuses on the oversight of the safety and security of the Barakah Nuclear Power Plant, waste ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) continues to develop a world-class infrastructure supported by assets exceeding AED200 billion owned by Dewa and its subsidiaries, as well as an additional investment of AED40 billion over five years in the energy and water sectors. This helps Dewa expand its production capacity to meet the growing demand for electricity ...