Bloomberg China plans to allow some commercial banks to start selling soured personal loans to distressed asset managers as soon as this month, according to people familiar with the matter. At a meeting by the official credit assets transfer center, banks and state-run bad-loan managers were asked to accelerate preparations to ensure a smooth start of the trial program in ...

Bloomberg The priciest equities in more than five years are proving no deterrent for stock traders in China, where the benchmark is now nearing its all-time high. The CSI 300 Index rises 2.9% on Tuesday to close at a 13-year high, taking this month’s gain to 7.4% — its best-ever start to a year. Shares of brokerages rallied, an indicator ...

Bloomberg US stocks were mixed and benchmark Treasury 10-year note yields rise to a 10-month high as investors mulled the prospects of the economic recovery and vaccine rollout. The S&P 500 was little changed, with the energy and consumer discretionary sectors gaining, while utilities and communication services were the biggest decliners. Europe’s Stoxx 600 Index traded little changed. The dollar ...

Abu Dhabi / WAM Abu Dhabi National Exhibitions Company (Adnec) — the organiser of the International Defence Exhibition (Idex 2021) and the Naval Defence Exhibition (Navdex 2021) — has received approval from the Abu Dhabi Public Health Centre for all badge holders to be exempted from the 10-day quarantine procedure on their arrival into Abu Dhabi. This step has been ...

Bloomberg Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months. Futures in New York lost 0.9% as the dollar’s gains reduced the appeal of raw materials such as oil that are priced in the currency. Both West Texas Intermediate and Brent crude are trading ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) has issued the lowest-ever yield on any five-year Mena bank USD issuance with a $500 million five-year Sukuk issued at MS+90bps (all-in yield of 1.411 percent) through FAB Sukuk Company Limited. The deal is FAB’s first USD benchmark offering and the first Sukuk issue globally in 2021. This offering was highly ...

Abu Dhabi / WAM The UAE has helped reunite two Jewish Yemeni families with their relatives whom they have not seen for decades. The first family of 15 members, were reunited in Abu Dhabi after UAE authorities facilitated the travel of family members from both Yemen and London. Yitzhak Fayez, 35, told the Emirates News Agency (WAM) that he had ...

SHARJAH / WAM Arada has reported a robust sales performance for 2020, as the developer benefited from a raft of project handovers and the stable Sharjah real estate market to overcome the effects of the pandemic. During a challenging year for the UAE property sector as a whole, the total value of real estate sold by Arada rose by 35 ...

DUBAI / WAM Emirates Airline has announced it will resume non-stop services to Seattle (from February 01), Dallas and San Francisco (from March 02), offering its customers connectivity via Dubai to and from popular destinations in Middle East, Africa, and Asia. The addition of these three destinations will take Emirates’ North American network to 10 destinations following resumption of services ...

ABU DHABI / WAM Abu Dhabi National Exhibitions Company (Adnec) – the organiser of the International Defence Exhibition (Idex 2021) and the Naval Defence Exhibition (Navdex 2021) – received approval from the Abu Dhabi Public Health Centre for all badge holders to be exempted from the 10-day quarantine procedure on their arrival into Abu Dhabi. This step has been taken ...