Blog List Layout

Bloomberg Public backlash in South Korea against Japanese products has dented some sales of tour packages, and analysts say the boycott could spread to luxury cars and retailers as a trade spat between the two countries shows no sign of abating. While Fast Retailing Co doesn’t have a large exposure to Korea through its Uniqlo stores, the clothing chain may ...

BEIJING / WAM The UAE “will become a shining pearl along the Belt and Road,” a senior Chinese official said on Sunday, as His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, started his state visit to China. Sheikh Mohamed bin Zayed’s visit to China “will go ...

DAKAR / WAM President Macky Sall of Senegal welcomed an official UAE delegation led by Hussain Jasim Al Nowais, Chairman of the Khalifa Fund for Enterprise Development (KFED) to the Senegalese capital, Dakar. During the delegation’s visit, President Sall praised the strong ties and friendly relations between his country and the UAE. He also expressed his country’s keenness towards supporting ...

ABU DHABI / WAM The vital projects between the UAE and China reflect the close cooperation between the two countries and the UAE’s strategic role in supporting the success of China’s ‘Belt and Road’ initiative as the gateway to the Middle East and North Africa. There are several prominent Chinese projects in the China-UAE Industrial Capacity Cooperation Demonstration Zone in ...

FUJAIRAH / WAM National Bank of Fujairah (NBF) announced its results for the six month period ended on June 30. NBF posted a record net profit of AED357.1 million, a rise of 15.1 percent over the corresponding period of 2018, which exhibits its resilient business strategy. The bank also recorded its best-ever half-year operating profit of AED567.0 million which increased ...

Bloomberg Tens of thousands of Hong Kong protesters marched through the city centre to the vicinity of government headquarters, ignoring a police-approved end point and defying a ruling that shortened the planned route. The march marked the sixth straight week of anti-government rallies that have put increasing pressure on the financial hub’s administration. Organizer Civil Human Rights Front said the ...

Bloomberg Masayoshi Son likes to sketch out a grand vision for the future of artificial intelligence to justify his seemingly scattershot approach to investing. He let his proteges and startups speak for themselves. SoftBank Group Corp’s $100 billion Vision Fund has 82 companies in its portfolio who delve into areas from satellites and autonomous driving to chips and cancer detection. ...

Bloomberg Buyout firm CVC Capital Partners and Singapore’s sovereign wealth fund GIC Pte are among firms considering bids for a stake in the $6.4 billion European settlements giant Euroclear, according to people familiar with the matter. The Brussels-based company, which counts London Stock Exchange (LSE) Group Plc as a shareholder, is planning to decide in the coming days whether to ...

Bloomberg UK lawyers with lucrative careers in European Union law are fighting to save their jobs after the bloc’s top courts warned that a no-deal Brexit would forbid them from representing clients. In a letter, a senior official at the Court of Justice of the European Union in Luxembourg urged British lawyers practicing EU law to put in place contingency ...

Bloomberg Europe’s carbon market is nearing the psychologically important threshold of 30 euros ($33.70) a ton after signs the region will tighten rules on polluters and curtail supplies of allowances. The value of the securities that cover greenhouse gas emissions from industry and utilities has almost doubled in the past year, finishing at their strongest weekly close since 2006. That ...