News

Dubai / WAM Emirates announced on Tuesday that it will introduce the first scheduled commercial Airbus A380 service to Istanbul, Turkey from October 1. For the first time, travellers to and from Turkey will have the opportunity to regularly enjoy the experience of flying on this iconic double-decker jumbo jet. Emirates will operate the A380 on its daily EK123/124 service. ...

Dubai / WAM Mashreq Bank has signed a Memorandum of Understanding (MoU) with Dubai Airport Freezone Authority (Dafza) to support and grow the ecosystem of services available to small and mid-size enterprises (SMEs) setting up in the zone. The MoU will ensure Dafza businesses have access to a wide variety of initiatives including API integration, as well as banking services ...

Dubai / WAM Around 92,000 underprivileged families and individuals in Mauritania received 4.5 million meals as part of the ongoing ‘100 Million Meals’ food distribution campaign, the largest food distribution drive in the region, aims to provide food support across 30 countries in Africa, Asia, Europe, and South America. Beneficiaries, identified by database of local authorities, received parcels of easy-to-store ...

Sharjah / WAM Sharjah Publishing City Free Zone’s (SPC Free Zone) mission of creating a nurturing and supportive environment for businesses has seen it attract more than 1,000 companies since the first half of the year 2021. These include the publishing, printing and translation sectors, commercial, administrative and legal consultants and companies operating in creative sectors. This has been accomplished ...

Bloomberg China’s government is assembling a group of accounting and legal experts to examine the finances of China Evergrande Group, a potential precursor to a restructuring of the world’s most indebted developer. Regulators in Evergrande’s home province of Guangdong dispatched a team last month from King & Wood Mallesons, a law firm whose specialties include restructuring, two people familiar with ...

Bloomberg Gogoro, a Taiwanese startup that specialises in battery-swapping technology, is in talks to go public through a merger with Poema Global Holdings Corp, a blank-check firm, according to people with knowledge of the matter. The deal is set to value the combined company at $1 billion or more, the people said, asking not to be identified as the information ...

Bloomberg India and Singapore will link their fast-payment systems to step up cross-border payments and remittance flows, which amount to more than $1 billion each year currently. India’s Unified Payments Interface will be joined with Singapore’s PayNow by July 2022 to enable users to make instant, low-cost fund transfers while staying on their own systems, the Reserve Bank of India ...

Bloomberg Singapore is planning new measures to boost its domestic stock market, according to people with knowledge of the matter. State investment giant Temasek Holdings Pte’s 65 Equity Partners Holdings Pte, with a fund size of at least S$1 billion ($745 million), will invest in Singapore and regional mid-cap firms, including initial public offerings, the people said. Temasek and sovereign ...

Bloomberg Malaysia’s PM Ismail Sabri Yaakob will announce the easing of more virus curbs in the economic and social sectors soon amid concern over the lockdowns’ effect on mental health. The committee managing the pandemic has agreed to provide several “low-risk” concessions for the population, said Defence Minister Hishammuddin Hussein in a press conference on Tuesday. It is also looking ...

Bloomberg South Korea fined Alphabet Inc’s Google $177 million for hampering the development of rivals to its Android operating system, sustaining a campaign targeting the US search giant’s dominance in smartphone software. Regulators accuse Google, whose mobile operating system powers more than 80% of smartphones around the world, of using its immense bargaining power to squeeze out the competition. The ...