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DUBAI / WAM As part of the directives of the wise leadership to support charitable and humanitarian causes, the Islamic Affairs and Charitable Activities Department in Dubai (IACAD) on Monday announced that the construction of the Zayed Dialysis Centre is approximately 36 percent complete. The centre, located in the Al-Twar 3 area, is a joint project between the IACAD and ...

ABU DHABI / WAM Emirates Central Cooling Systems Corporation, Empower, has announced that the total number of buildings connected with its district cooling services in Dubai has increased to 1,180 in 2019, marking 8.25 percent growth from 2018. The company’s performance shows an impressive growth of 269 percent in a span of seven years, from 320 buildings in 2012 to ...

Bloomberg A Chinese biotech company which claimed to be able to manufacture an experimental drug from Gilead Sciences Inc with the potential to treat the novel coronavirus, was censured for disclosing inaccurate information. The Shanghai Stock Exchange said in an statement that BrightGene Bio-Medical Technology Co has not gained approval from China’s drug regulator to make the drug known as ...

Bloomberg Hong Kong will avoid the kind of property market crash that followed previous economic slumps in the finance hub, according to Financial Secretary Paul Chan. “We do not see the risk of an off-the-grid type of downfall,” Chan said in an interview on Monday with Bloomberg Television’s Yvonne Man. As Hong Kong’s economy reels from the coronavirus outbreak that ...

Bloomberg Masayoshi Son’s pitch to US hedge funds and financial institutions on the merits of SoftBank Group Corp just got harder, with a record market plunge that has made investors skittish and raised risks for its portfolio companies. The Japanese billionaire will be in New York for the first such meeting since the implosion of WeWork. In the months since, ...

Bloomberg Lenders have accused a Singapore commodities firm of fraud after a debt default left them facing potential losses on $600 million of liabilities. ING Bank NV alleged that Agritrade International Pte, its chief executive officer Ng Xinwei and his father Ng Say Peck misrepresented the company’s financial position to various bank lenders, in a filing to a Singapore court. ...

Bloomberg India’s Tata Motors Ltd saw a 34% slide in domestic sales in February, as automakers were hit by the lack of supply of parts from China amid the coronavirus outbreak. Total domestic sales stood at 38,002 units last month, falling from 57,221 during the same period a year ago, the company said in a statement. Total sales were 40,634 ...

Bloomberg The UK outlined its negotiating objectives for trade talks with the US, seeking a deal it hopes will deliver a 3.4 billion-pound ($4.4 billion) boost to the British economy. Talks, which are expected to start this month, will seek to protect the National Health Service and uphold food safety and animal welfare standards — all sticking points in recent ...

Bloomberg Huawei Technologies Co, the Chinese technology giant barred from doing business with US suppliers, is finding a way around the strict limits imposed by the Trump administration. The Commerce Department, citing national security concerns, has largely forbidden American companies from selling Huawei the computer chips it needs to make a piece of equipment integral to newly introduced high-speed wireless ...

Bloomberg Group of Seven finance ministers will hold a teleconference this week to coordinate their response to the coronavirus outbreak, France’s Finance Minister Bruno Le Maire said on Monday. Finance ministers need to ensure that their responses are “as coordinated as possible” in order to be effective, Le Maire said on France 2 television. “There will be concerted action,” Le ...