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Dubai / WAM Dubai International Financial Centre (DIFC) has announced that its membership of the World Alliance of International Financial Centres (WAIFC) has been unanimously approved by its Board. DIFC will use its membership to collaborate with members who represent other leading global financial centres including London, Frankfurt, Paris, Tokyo and Toronto. As the highest ranked global financial centre in ...

Bloomberg A surge in coronavirus cases in India could hurt the economy’s recovery from a rare recession, as curbs to avoid a new wave creates delays in putting millions who lost their jobs to the pandemic back to work. “There is a restless urgency in the air in India to resume high growth, and incoming data point to even contact-intensive ...

Bloomberg Japanese prosecutors on Monday formally charged two Americans with aiding in the escape of former Nissan Motor Co. Chairman Carlos Ghosn, who fled trial in Japan over a year ago. Michael Taylor, 60, and Peter Taylor, 28, helped Ghosn illegally leave Japan in December 2019, where he was facing charges of financial misconduct, prosecutors said in a statement on ...

Bloomberg Ant Group Co. created an investment advisory platform on its Alipay app, allowing companies that offer robo adviser services to reach its 1 billion users. Five Chinese asset management companies debuted on the platform known as Tougu Guanjia, which means investment advisory manager. Users will be able to choose robo advisory services from the platform that functions like a ...

Bloomberg The days of the massive first-day pop in Hong Kong’s initial public offering (IPO)M frenzy may be nearing an end. Even as the pandemic spread for most of 2020, the offshore Chinese city’s IPOs and new listings were in hot demand from both institutional and mom-and-pop investors. With the bulk of new share sales posting large gains on their ...

Bloomberg South Korea’s exports are set for another monthly gain in March, adding to signs the global economic recovery is taking hold as vaccinations pick up. Exports rise 12.5% in the first 20 days of the month from a year earlier, the customs office reported on Monday, with chips and cars leading the gains. Average daily shipments increased 16.1% during ...

Bloomberg Gold price’s slump to near a nine-month low is drawing jewelry shoppers in Asia to hunt for bargains. After a year of demand being in the doldrums, retailers are buying more of the precious metal to cater to people like Seema B, a 35-year-old housewife who ventured to Mumbai’s Zaveri Bazaar to get new bangles after months of putting ...

Abu Dhabi / WAM The UAE cabinet adopted a new remote work visa to enable employees from all over the world to live and work in the UAE for one year and approved a multiple-entry tourist visa for all nationalities. The new resolutions are among several initiatives approved by the cabinet during a meeting chaired by His Highness Sheikh Mohammed ...

DUBAI / WAM Retail sales in the UAE are expected to rebound and grow by 13 percent to reach $58 billion by the end of 2021, supported by pent up consumer demand in the second half of the year, Covid-19 vaccination efforts and Expo 2020 Dubai, new analysis from Dubai Chamber of Commerce and Industry has projected. The analysis, based ...

ABU DHABI / WAM The central bank of the UAE’s statistics revealed a net increase in the international reserves of the Emirati banking system of AED12.6 billion over three months, from November 2020 to January 2021. With this continued rise, the cumulative balance of the country’s international reserves amounted to over AED519 billion at the end of January 2021, a ...