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Dubai / WAM Dr Bernd van Linder, Chief Executive of Commercial Bank of Dubai (CBD) rang the market-opening bell at Nasdaq Dubai on Wednesday to celebrate the listing of a $600 million AT1 conventional bond. The six-year bond with a 6 percent interest rate was 2.1 times subscribed, and allocated to investors in the Middle East (61%), Europe (24%) and ...

Abu Dhabi / WAM Dr Omar Abdulrahman Al Hammadi, Official Spokesman of the UAE Government said that this week, 803,579 tests were conducted around the country, a three percent increase compared to the previous week, adding that the data showed a 15 percent decrease in confirmed cases, amounting to 8,525. Dr Al Hammadi explained the data and statistics collected by ...

Dubai / WAM DP World, UAE Region has announced that its Mina Rashid has won the award for the Middle East’s Leading Cruise Port for the 13th consecutive year at the World Travel Awards (WTA), 2020. Considered as a noteworthy accolade in the travel industry, the award included nominations of cruise ports from around the world. Commenting on the announcement, ...

Bloomberg Chinese President Xi Jinping is expected to lay out his plans for a more innovation-driven and self-reliant economy on a tumultuous day for investors. Xi was scheduled to deliver a speech at the opening of the China International Import Expo on Wednesday in Shanghai, an annual event he has used since 2018 to tout China’s importance in global trade. ...

Bloomberg Indian employees are likely to witness their monthly paycheck getting a bigger boost next year compared to 2020 as companies are betting on higher consumer demand due to enhanced government spending and bumper rainfall to neutralise the pandemic-led economic contraction, a survey showed. Companies, spanning sectors including e-commerce, energy, financial institutions and pharmaceuticals, are projected to increase compensation by ...

Bloomberg Estee Lauder Cos sees a revival in China’s tourism — a promising sign in a critical growth market for international brands. Chief Executive Officer Fabrizio Freda said that Chinese travel stores — the type seen in airports and train stations — were a “stand-out performer” in the company’s most recent quarter, posting double-digit growth. Global travel sales, meanwhile, were ...

Bloomberg Mitsubishi Motors Corp reported an operating loss that was wider than estimates as the Japanese automaker struggles to sell cars amid the coronavirus outbreak. The loss for the quarter ended in September was 29 billion yen ($276.5 million), compared with analysts’ average projection for a loss of 27 billion yen. Even so, Mitsubishi Motors stuck to its forecast for ...

Bloomberg Jack Ma was poised to become Asia’s richest person with Ant Group Co’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo. Alibaba Group Holding’s US-traded shares slid 8.1% in New York,the most since January, 2015, after Ant said its ...

Bloomberg Oil rises as broader markets rallied and Opec+ inched closer to delaying a planned easing of output cuts. Futures in New York traded near $38 a barrel after climbing 3.3%, extending gains from the previous session. Equities strengthened ahead of the US election, while the dollar lost 0.5%, adding to positive sentiment in crude. Russian oil companies met Energy ...

Abu Dhabi / WAM In an effort to ensure that stored value products and services are operated in a secure, sound and efficient manner in the UAE, the central bank of the UAE (CBUAE) issued a new regulation on Stored Value Facilities (SVF). By introducing this new regulation for the providers of SVFs, the CBUAE aims to facilitate fintech firms ...