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ABU DHABI / WAM Department of Municipalities and Transport (DMT) and its subsidiaries announced the completion of more than 1.1 million digital transactions during the first quarter of this year, which represents 84% of its total transactions for the period. The three municipalities under the department’s umbrella achieved more than 223,000 digital transactions (93% of their total transactions) during Q1 ...

Bloomberg The Indian tycoon whose net worth surged the most among peers as the deadly coronavirus roils markets worldwide can thank nation’s hoarders with millions scrambling to stock up on staples amid the world’s biggest isolation effort. The net worth of Radhakishan Damani, who controls Avenue Supermarts Ltd., has surged almost 11% this year to $10.7 billion, singling him out ...

Bloomberg Asian tycoons are looking to snap up assets pummeled by the deadly coronavirus at bargain prices, but they are also facing hurdles as more governments seek to deter foreign takeovers of local firms. Over the past three months, top executives of companies based in mainland China, Hong Kong and Singapore have told investors that they are looking for acquisitions. ...

Bloomberg South Korea has so far raised about one-tenth of the target for its stock-market stabilisation fund and has yet to make any investments, Kang Shinwoo, the advisor for the fund, said in an interview. The emergency fund aims to raise 10.7 trillion won ($8.77 billion) in total from local banks, brokerages and other financial institutions to support the nation’s ...

Bloomberg Nissan Motor Co. has requested loans totaling $4.6 billion from lenders including Japan’s three megabanks as the carmaker suffers from plunging sales due to the coronavirus, according to bankers familiar with the matter. The automaker is seeking financing from Mizuho Financial Group Inc., Sumitomo Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and the state-backed Development Bank of Japan, ...

Bloomberg For Graham Lancaster, the owner of a real estate agency in the English county of Kent, the alarm will go off in three months. Britain is headed into its peak of the coronavirus outbreak, and companies and households are busy doing the math to see how long they’ve got before the money runs out, just as they are across ...

Bloomberg Ride-hailing company Bolt Technology OU is seeking credit support from the Estonian government after a switch to quarantine-friendly services failed to sufficiently improve its finances and banks turned down requests for loans. The service formerly known as Taxify, a rival to Uber Technologies Inc, is asking for $54 million in loans or public credit guarantees after commercial lenders have ...

Bloomberg Spain reported fewer coronavirus deaths and new cases on Thursday in Europe’s second-most deadly outbreak of the disease. There were 5,756 new infections in the 24 hours through Thursday, pushing the total above 150,000, according to Health Ministry data. The death toll rose by 683 to 15,238, a smaller gain than Wednesday’s 757. Prime Minister Pedro Sanchez is asking ...

Bloomberg Google was ordered by French antitrust regulators to pay publishers to display their articles, ending its long-standing practice of using excerpts on its news service for free. The French antitrust agency gave the Alphabet Inc unit three months to thrash out deals with press publishers and agencies demanding talks on how to remunerate them for displaying their content. The ...

DUBAI / WAM National Bonds, the UAE-based financial and Sharia-compliant investment company, announced that its assets under management increased by 9 percent to AED7.8 billion in 2019, according to the results published by the company. The assets included mainly Wakala Deposits (38%), Real Estate – Yield Generating (27%) and sukuk (25%), according to National Bonds, which is owned by the ...