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DUBAI / Emirates Business The Dubai Financial Services Authority (DFSA) will be hosting a virtual event on June 2-3. The event, RegTech Live: Driving Compliance Through Innovation, will be held in partnership with the Dubai International Financial Centre Authority (DIFCA). The DFSA wishes to promote and foster innovation in the Dubai International Financial Centre (DIFC), in line with Dubai’s National ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) announced that it had issued 4,527 electronic ‘Certificates of Origin’ for the months of March and April. It noted that the total number of memberships had reach 1,251 by the end of April, with 46 new memberships and 1,169 renewed memberships. The number of new members from the free ...

Bloomberg Reliance Industries Ltd is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month. The conglomerate backed by Mukesh Ambani, Asia’s richest man, is preparing Jio Platforms Ltd for an initial public offering ...

Bloomberg JSW Steel Ltd, India’s most valuable steelmaker by market capitalisation, will focus on exports, cut costs and delay expansions as the coronavirus pandemic slashes demand at home. Once a bright spot for global demand, steel consumption in India plunged 91% last month while crude steel output tumbled 70% as a nationwide lockdown to combat the pandemic halted activity across ...

Bloomberg China’s race to restore normality has opened up a rare opportunity to profit from shipping aluminum into the country, which is typically burdened by excess supply of the metal. The theoretical margin from importing aluminum into China jumped to the highest level since 2016, according to Bloomberg calculations based on local spot prices and the cost of the metal ...

Bloomberg Prime Minister Shinzo Abe is doubling down on his stimulus measures with more than $1 trillion of extra help to keep businesses and households afloat amid the coronavirus recession. The 117 trillion yen ($1.1 trillion) package includes financing help for struggling companies, subsidies to help firms pay rent and several trillion yen for health care assistance and support for ...

Bloomberg Singapore’s economy is facing its worst contraction since independence more than a half-century ago as the coronavirus outbreak and measures to contain it pummel the trade-reliant city-state. The government expects gross domestic product to shrink 4% to 7% this year, down from a previous forecast of a 1%-4% contraction, as the outlook for external demand deteriorates, the Ministry of ...

Bloomberg KKR & Co. said it will put $1 billion into a new data center venture in Europe, as private equity firms chase returns in the growing market for digital infrastructure assets. The investment firm is teaming up with industry veteran Franek Sodzawiczny to launch Global Technical Realty, which will develop and build data centers for large technology companies in ...

Bloomberg The euro-area economy is facing a contraction this year in line with the European Central Bank’s (ECB) more pessimistic forecasts, according to Christine Lagarde. Output in the region is likely to shrink between 8% to 12%, the ECB president said in an online question-and-answer session targeted at European youth. Estimates for a mild scenario are “out of date.” “We’ll ...

Bloomberg Britain could create 850,000 new green energy jobs this decade if it uses recovery stimulus to fast-track decarbonisation, a report has found. Financial stimulus being used to kick-start the economic recovery from coronavirus should accelerate the UK’s path towards net-zero emissions and limit the worst effects of climate change, according to a report by a the cross-party IPPR environmental ...