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Dubai / Emirates Business Emirates NBD, a leading banking group in the region, has completed the third phase of its international core banking system upgrade, as it forges ahead with its ongoing digital transformation efforts to boost innovation and efficiency across its domestic and international operations. Leveraging advanced Finacle technology, the third phase of the project sees the rollout of ...

ABU DHABI / WAM The Abu Dhabi General Services Company, Musanada, has announced the completion of construction works on the Mohamed bin Zayed School. Construction costs of the all-boys school reached AED170 million, Musanada revealed, adding that the project was undertaken as part of the Abu Dhabi Future Schools Programme (ADFSP). The handover process to the Abu Dhabi Department of ...

DUBAI / Emirates Business Dubai International Financial Centre (DIFC), a global top 10 International Financial Centre and the leading financial hub in the Middle East, Africa and South Asia (Measa), signed individual memorandums of understanding (MoU) with two leading institutions to fuel the region’s insurance sector by upskilling talent as well as promoting efficiency and improvement. MoUs were signed with ...

Bloomberg US Secretary of State Michael Pompeo arrives in Ukraine this week to voice support for the embattled nation, a message muddled by Rudy Giuliani’s latest visit there in search of dirt on Joe Biden and by the pending Senate impeachment trial of President Donald Trump. Pompeo will “reaffirm US support for Ukraine’s sovereignty and territorial integrity” when he visits ...

Bloomberg A senior Chinese diplomat said China will honour its phase-one trade commitments, and suggested that the US live up to theirs on issues such as Taiwan. In an interview with Chinese state television CGTN on December 28 night, Cui Tiankai, China’s ambassador to the US, also said talk of a new cold war was “very irresponsible.” The comments came ...

Bloomberg The man who claims he invented the world’s largest cryptocurrency and was ordered by a judge to surrender about $3 billion of his Bitcoin holdings said he may not be able to do so anytime soon. In a statement to Bloomberg News, Craig Wright said that he “cannot be certain that information will in fact arrive” to help identify ...

Bloomberg Tesla Inc delivered its first China-built cars, a milestone for Elon Musk’s company as it accelerates a push in the world’s largest electric-vehicle market. The company handed over the first 15 Model 3 sedans assembled at Tesla’s new multibillion-dollar Shanghai plant — its first outside the US — to company employees at the facility on Monday. More workers will ...

Bloomberg Protests against a new citizenship law in India risk making investors wary of doing business in Asia’s third-largest economy. At least 25 people have been killed in nationwide demonstrations against the new rules enacted into law earlier this month. The law bars undocumented Muslims from three neighboring nations seeking Indian citizenship, while allowing people of other faiths to do ...

Bloomberg The financial gearing of Asia Pacific’s largest companies has risen for a second year following a period of deleveraging, but market participants don’t see cause for alarm. The median total debt-to-total equity for non-financial companies in the MSCI Asia Pacific Index reached about 44% in the first nine months of 2019. That is slightly higher than the 41% seen ...

Abu Dhabi / WAM The UAE jumped ten spots on the list of most competitive countries in world during four years, acquiring 5th place in 2019 compared to the 15th spot in 2016, according to the annual World Competitiveness Ranking 2019 published by the IMD Business School. The UAE has proven its standing as one of the world’s most competitive ...