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Bloomberg Hong Kong billionaire brothers Victor and William Fung are exploring selling their stake in Delvaux, a 192-year-old Belgian luxury leather bagmaker, people with knowledge of the matter said. The Fungs are working with advisers and have reached out to prospective suitors on the potential divestment of the asset, the people said. A sale could value the bagmaker at around ...

Bloomberg After spending $120 million on a stake in an online grocer in Norway, SoftBank Group Corp is laying out the business logic of targeting a market that boasts Europe’s highest hourly labour costs. The deal is an example of how countries that pay average workers really well often come up with some of the smartest technology, according to Paul ...

Bloomberg Japanese exports posted a double-digit gain for the first time in more than three years in March, offering another indication that a recovery in global trade is gaining strength. The value of overseas shipments jumped 16.1% from a year ago, for the biggest increase since November 2017, led by exports of cars, plastics, semi-conductors and chip-making equipment, the finance ...

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, warned for the first time that trade tensions may disrupt its access to key production equipment and hit its operations, amid increasing friction between the US and China. The company, which produces semiconductors for Apple Inc and other major global tech companies, said in its annual report released that ...

Abu Dhabi / WAM The Federal National Council (FNC) Parliamentary Division presented the country’s counter-terrorism and extremism initiatives and efforts at the virtual International Parliamentary Conference on the Global Challenges and Threats in the Context of the Covid-19 Pandemic: Terrorism and Violent Extremism, organised by the Parliamentary Assembly of the Mediterranean (PAM). During the event, Dherar Humaid Al Falasi, Vice ...

Sharjah / WAM The operating profits of Sharjah Islamic Bank (SIB) increased before provisions amounting to AED 212.2 million in Q1 2021, compared to AED 167.2 million for the same period last year, with an increase of 26.9 percent. According to the bank’s financial statement, net profit for the three months ended March 31, 2021 amounted to AED164.2 million, compared ...

AJMAN / WAM The Ajman Department of Economic Development (Ajman DED) signed a cooperation agreement with noon.com, the region’s homegrown digital marketplace, to support the growth and success of small and medium-sized companies and entrepreneurs in the emirate, including the members of the Small and Medium Enterprises Programme “Tazeez”, the members of the “Riyada” programme for practicing economic activities at ...

Abu Dhabi / WAM Dr Farida Al Hosani, Official Spokesperson of the UAE Health Sector and Director of the Communicable Diseases Department of the Abu Dhabi Public Health Centre (ADPHC), said that the types of vaccines available in the country are among the best in the world, noting that the UAE aims to enlarge the scope of people taking the ...

DUBAI / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Emirates NBD signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their global competitiveness. The agreement follows the Memorandum of Understanding (MoU) signed in 2019 between Massimo Falcioni, CEO of Etihad Credit Insurance, and Ahmed Al Qassim, Senior Executive Vice ...

Dubai / WAM Sultan Butti bin Mejren, Director-General of the Dubai Land Department (DLD), and Dr Aman Puri, Consul-General, Indian Consulate Dubai, discussed means to strengthen relations with Indian investor community and the possibility of opening new areas of partnership, in addition to identifying the most important elements of quality of life that the elite Indian investor is looking for ...