News

SHARJAH / WAM Sharjah Electricity, Water and Gas Authority (SEWGA) has prepared a plan to carry out the resolution of HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, to provide electricity, water and gas services in the Central Region’s cities and districts. Dr Engineer Rashid Al Leem, Chairman of SEWGA said that teams ...

DUBAI / WAM Abdulla Mohammed Al Basti, Secretary-General of the Executive Council of Dubai, and Vice Chairman of the Steering Committee of the C40 Cities Network for South and West Asia, confirmed that the Emirate of Dubai has made significant progress within the areas of sustainable development, clean energy, and green economy, in line with the vision of His Highness ...

Bloomberg Alibaba Group Holding Ltd will invest about $3.6 billion to double its stake in Sun Art Retail Group Ltd, taking control of China’s largest chain of hypermarts to try and fend off rivals like JD.com Inc in e-commerce’s hottest growth arena. Alibaba will raise its direct and indirect stake in the grocery chain to about 72% by acquiring equity ...

Bloomberg Jack Ma’s Ant Group Co won a key approval from the China Securities Regulatory Commission for its listing in Hong Kong, paving the way for what could be the world’s biggest initial public offering, according to people familiar with the matter. The Chinese regulator has given Ant a green light to seek a listing hearing with Hong Kong Exchanges ...

Bloomberg Singapore’s emergence from the Covid-19 shock is gathering pace, but that isn’t boosting the nation’s equity benchmark. That’s because the gauge is very much a bet on the global recovery rather than a wager on the city-state. The Straits Times Index is still 21% away from turning positive for the year, among the worst in Asia. Singapore’s plan to ...

Bloomberg The Tokyo Metropolitan Government has set up an office in Hong Kong to consult with companies considering a move to the Japanese capital, part of its push to make the city a global financial center. The Hong Kong office opened for online consultations, Governor Yuriko Koike said at a news briefing. “I want to make Tokyo the No. 1 ...

Bloomberg South Korean conglomerate SK Group is accelerating efforts to help China develop ESG standards after a years-long push by Beijing to improve social governance disclosures at its companies stalled. SK said it will team up with China’s State-owned Assets Supervision and Administration Commission (SASAC) to jointly establish a lab in Beijing to study and develop rating methods for environmental, ...

Abu Dhabi / WAM The number of subscribers in telecommunications services in the UAE, including mobile phones, landlines and Internet, grew to 21.808 million by the end of August, 1 percent up compared to the preceding month. The latest statistics released by the Telecommunications Regulatory Authority (TRA) indicated an increase in the number of mobile phone subscribers to 16.685 million ...

Bloomberg Nearly 200 countries are nearing a legally-binding agreement to reduce pollution from the world’s cargo ships, a step forward after two years of talks on how the industry should clean up its emissions. A series of virtual meetings will start on Monday hosted by the United Nations shipping agency over a new rating system that will measure the carbon ...

DUBAI / WAM The Dubai Financial Market (DFM) on Sunday introduced equity futures trading, as part of its new Futures Trading Platform, amid unprecedented participation from the brokerage community. This step provides further impetus to DFM’s strategy to diversify product offerings and attract more investments. The DFM has developed a robust regulatory framework, in line with international best practices, creating ...