ABU DHABI / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), signed a $30 million (AED110.19 million) line-of-credit agreement with the Eastern and Southern African Trade and Development Bank (TDB) to bolster trade between the UAE and the Bank’s Member States. The first of its kind to be signed by Adex with ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced the signing of a Memorandum of Understanding with Dubai Municipality to consolidate cooperation on developing a geolocation infrastructure project in Dubai as part of the Geo Dubai initiative. The MoU, signed by Saeed Mohammed Al Tayer, MD & CEO of Dewa; and Dawood Al Hajri, Director-General of Dubai Municipality, includes ...

Getting a touch ahead of events, the New York Times noted last week that the recent electoral victories of the Scottish National Party could lead to “the biggest blow to a British prime minister since Lord North lost the colonies in America.” The markets took a different view. In trading, after the election results were clear, sterling rose against the ...

Vinted, the Lithuanian app that lets users buy and sell pre-owned clothes and accessories, was valued this week at 3.5 billion euros ($4.2 billion), not far below more established European retailers such as Hugo Boss and Sports Direct owner Frasers Group. The Vinted fundraising underlines the current vogue for vintage and secondhand apparel — including anything from bootcut jeans to ...

Hong Kong’s cozy all-male boards have been put on notice. Rules that could become effective within months will force them to appoint at least one woman director. It’s an overdue change that may go some way to bolstering the city’s dented status as an international financial centre. The territory is an embarrassing laggard in the worldwide trend toward greater gender ...

Inflation is coming. Or wait, it’s already here. Bond investors are looking at the 4.2% annual rate that US consumer prices jumped to in April and wondering if it’s all because of depressed levels from last year. Could it be that the Federal Reserve is wrong about higher prices being transitory? In that case, the Fed and other central banks ...

Bloomberg Ryanair Holdings Plc posted a record annual loss, while saying it’s likely to break even this year as vaccination programs allow a gradual easing of coronavirus travel curbs. Bookings have increased significantly in recent weeks, pointing to a strong recovery in the second half, although forward visibility remains “close to zero,” the Irish company said in a statement on ...

Bloomberg An air travel bubble between Singapore and Hong Kong has been delayed as Singapore battles with a rising number of unlinked cases tied to the more aggressive and transmissible coronavirus strain known as B.1.617. A further announcement should be made on or before June 13, the Hong Kong government said in a statement on Monday. Singapore Minister for Transport ...

Bloomberg Chile’s right-wing government coalition likely secured fewer than a third of the seats on the Constitutional Assembly in this weekend’s historic elections, making it more difficult to block major changes and leaving independent and the opposition left-wing parties with more sway to rewrite the new charter. Contenders from the government coalition’s main list obtained 21% of votes with more ...

Bloomberg Former President Donald Trump is scheduled to be the keynote speaker at the North Carolina Republican Party’s state convention next month, the party announced on Monday. The June 5 speech marks the latest step in Trump’s re-emergence into public life since leaving office on January 20. Trump, who turns 75 in June, also is expected to appear on May ...