Dubai / WAM The Mohammed bin Rashid Fund (MBRF), of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME), sector, and First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, have formed a partnership to launch a new receivable financing programme for Emirati- owned ...

Bloomberg Alibaba Group Holding Ltd has raised about HK$88 billion ($11.2 billion) in its Hong Kong share sale, marking the biggest equity offering in the financial hub since 2010. The company confirmed that it has priced 500 million new shares at HK$176 each in a statement. The price represents a 2.9% discount to the last close of Alibaba’s American depository ...

Bloomberg Piramal Enterprises Ltd, a company controlled by Indian billionaire Ajay Piramal, has offered to repay a 15 billion rupee ($208 million) debt to Standard Chartered Plc early after getting a waiver on a covenant, according to people with knowledge of the matter. The flagship company of the group — which runs non-bank financiers and a drug maker — hasn’t ...

Bloomberg Japan’s exports suffered their largest drop in three years in October, as the US-China trade war continued to hit global demand and extreme weather disrupted output at home. Exports fell 9.2% from a year ago, dropping for an 11th month and extending the longest streak of monthly declines since 2016, Ministry of Finance data showed. Economists had forecast a ...

Bloomberg India is planning to offer 324 companies including Tesla Inc and GlaxoSmithKline Plc incentives to set up factories in the South Asian nation in a bid to capitalise from the trade war between China and the US, according to a document seen by Bloomberg. The government proposes to provide the manufacturers land to set up a factory along with ...

Bloomberg Donald Trump’s effort to tout US economic growth will clash with his trade war when he visits an Apple Inc factory in Texas, where Tim Cook will probably plead in-person to keep Macs and iPhones free from tariffs. Trump’s visit to the Austin factory, where Apple contractor Flex Ltd assembles some of the company’s laptops, is intended to highlight ...

Bloomberg Wirecard AG said it followed all reporting obligations properly amid renewed concerns about its accounting practices related to a delayed audit of the German company’s accounts in Singapore. Ernst & Young couldn’t form a “final audit opinion” on the Singapore operations based on local SFRS accounting standards because the firm couldn’t access all documents due to restrictions from an ...

Bloomberg This week at dual events in Los Angeles and Beijing, Aston Martin unveiled the first SUV in its 106-year history. The $189,000 DBX, one of the last luxury-brand SUV models to hit the market, jumps into a race of automakers intending to capitalise on buyers’ seemingly endless appetite for powerful and expensive SUVs, especially in China and the US. ...

Bloomberg Italy and France are at risk of breaching European Union (EU) spending rules, the bloc’s executive arm said, warning that only countries with a healthy budget position should be pushing expansionary policies. In a set of assessments, the European Commission said the 2020 spending plans of eight countries are “at risk of non-compliance.” In addition to France and Italy, ...

Bloomberg Google Chief Executive Officer Sundar Pichai was in Tokyo to inaugurate the relocation of the company’s Japanese head office to an expansive new complex in the trendy district of Shibuya. Taking up the majority of the gleaming new 35-floor Shibuya Stream skyscraper, Google has put its name on the building and dedicated two floors to a newly launched Google ...