Bloomberg Shares of ByteDance Ltd., the Chinese parent of hit video app TikTok, are trading at a valuation of more than $250 billion in the secondary market, according to people familiar with the matter. The Beijing-based startup’s value has surged in recent weeks as investors gain confidence in the business and founder Zhang Yiming weighs options for an initial public ...

Abu Dhabi / WAM The Senate of the Republic of the Philippines has adopted a resolution expressing the profound appreciation of the Filipino people to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Supreme Commander of the UAE Armed Forces, for his “gestures of compassion, concern, friendship, solidarity and support towards the Filipino people ...

DUBAI / WAM Dubai Holding partnered with Dubal Holding, ITOCHU Corporation, Hitachi Zosen Inova, Besix group and Tech Group to develop one of the world’s largest energy-from-waste (EfW) facility. The consortium of leading international companies will build and operate the AED 4 billion project under a 35-year concession period with Dubai Municipality. This landmark public-private partnership represents one of the ...

Abu Dhabi / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan sent a message of condolences to Emir Nawaf Al Ahmad Al Jaber Al Sabah of Kuwait, on the death of his sister Sheikha Nouria Ahmad Al Jaber Al Mubarak Al Sabah. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

ABU DHABi / WAM The Abu Dhabi National Oil Company (Adnoc) and Intercontinental Exchange (ICE) on Monday, officially celebrated the start of trading of the United Arab Emirate (UAE) flagship crude oil, Murban, as a Futures contract on the new ICE Futures Abu Dhabi (IFAD) commodities exchange. During a high-profile launch event at Abu Dhabi Global Market (ADGM), attended by ...

Dubai / WAM Free zones across the world are optimistic about their growth performance in coming months as they prepare to become “future ready” in a post-pandemic world, according to latest indicators revealed by the Free Zones World Economic Barometer. About 40 percent of free zone organisations expressed a positive outlook on their performance during the fourth quarter of 2020 ...

DUBAI / WAM Dubai Chamber of Commerce discussed on Monday at its headquarters the bilateral economic ties and investment opportunities with Pierre Dartout, Minister of State in the Principality of Monaco. The dignitary was head of a delegation from the European principality that arrived in Dubai to explore opportunities of mutual benefit and to enhance bilateral relations as the city ...

Abu Dhabi / WAM Aldar Investment on Monday announced an AED 500 million redevelopment plan for Yas Mall to reinforce the asset’s position as the centrepiece of Yas Island, Abu Dhabi’s fast-growing residential and leisure destination. The substantial investment will enhance the customer journey by reimagining the mall’s spaces and introducing new innovative retail concepts. The redevelopment will further enable ...

Dubai / WAM The Dubai Financial Services Authority (DFSA) on Monday published its “Framework for Regulating Security Tokens” for public consultation for a period of 30 days. The DFSA is proposing a comprehensive and innovative regulatory framework for regulating Security Tokens, a new and growing area of interest for many industry participants. DFSA is actively engaged with key stakeholders in ...

Dubai / WAM Emirates NBD has reported that contactless payments now make up 84 percent of all face-to-face card payment transactions, as consumers and merchants have increasingly preferred to use touch-free technologies to stay safe. The bank, a front-runner in digital banking, saw contactless payment transactions which include contactless card and mobile wallet-based payments rise by 59 percent year-on-year in ...