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Abu Dhabi / WAM Sanad Capital, a wholly-owned subsidiary of Mubadala Investment Company and the global aerospace engineering and leasing solutions leader, has closed a $55 million debt financing deal with the Commercial Bank of Dubai, one of the UAE’s leading financial institutions. The first-ever collaboration between Sanad Capital and the Commercial Bank of Dubai will fund the purchase of ...

JAKARTA / WAM Joko Widodo, President of Indonesia, ordered the renaming of a major road in Indonesia after His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in appreciation of His Highness Sheikh Mohamed and the distinguished ties between the UAE and Indonesia. Dr Pratinko, Minister for ...

Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation has urged private sector companies to pay the wages of their employees on time, under the framework of the national Wage Protection System aimed at ensuring labour stability. This issue is one of the challenges caused by the coronavirus (Covid-19) pandemic, which has negatively affected international labour markets and ...

Bloomberg Asia’s top ride-hailing startups are pushing ahead with listing plans, as they seek to take advantage of a boom in equity offerings to fund expansion in everything from food delivery to autonomous driving. Beijing-based Didi Chuxing has filed confidentially with the US Securities and Exchange Commission for an initial public offering that could raise several billion dollars, according to ...

Bloomberg Dunzo Digital Private Ltd, a delivery startup backed by Google and operating in eight Indian cities, aims to double the amount of capital it has raised so far to extend its reach across the country and become a $1 billion revenue business in the next two years. The app, which connects low-cost couriers to thousands of individual merchants, has ...

Bloomberg The Indian economy’s recovery is likely to be shaped like a K rather than a V, as rising inequality is poised to hit consumption and growth prospects, the country’s former central bank governor said. “An important consequence of the pandemic has been the sharpening of inequalities,” Duvvuri Subbarao said. “Growing inequalities are not just a moral issue. They can ...

Bloomberg Toshiba Corp’s Chief Executive Officer Nobuaki Kurumatani has seen a sharp drop in support from executives and other employees in internal surveys, according to people familiar with the matter. Employees who have confidence in the CEO fell to less than 60% in an internal January poll, down from more than 90% last year, said the people who asked not ...

Bloomberg A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm. Unemployment touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed the data by Centre for Monitoring Indian Economy Pvt Ltd. The hit ...

Bloomberg Countries across the Asia Pacific are demurring on AstraZeneca Plc’s Covid-19 vaccine, or restricting its use, in a move that may delay protection for the region amid concerns that the shot could trigger a rare and potentially deadly blood clotting condition. After guiding against the vaccine’s use in people under 50 and saying that it didn’t expect shipments from ...

Bloomberg Italian Prime Minister Mario Draghi is bringing forward plans for as much as 40 billion euros ($48 billion) in new borrowing as the cost of keeping the economy afloat drains the state’s coffers and street protests heap pressure on the government, according to two people familiar with the matter. The government will need between 35 billion and 40 billion ...