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Bloomberg China has purchased Australian, Canadian and French wheat as Beijing looks to fill import quotas set by the World Trade Organization (WTO), according to people familiar with the matter. In the past two months, China bought about 1 million metric tons of wheat from the three countries, said the people, who asked not to be identified because the transactions ...

Bloomberg Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in its books. PT Asuransi Jiwasraya has submitted a restructuring proposal to the Financial Services Authority (FSA) that includes the stake sale in unit PT Jiwasraya ...

Bloomberg Kolkata Metro Rail Corp expects to complete its East-West project, which runs partly under the city’s iconic Hooghly river, by March 2022 after a delay of several years doubled costs. The authority is awaiting 20 billion rupees ($280 million) over the next two years from the Indian Railway Board, said Manas Sarkar, managing director at KMRC. A soft loan ...

Bloomberg Singapore introduced new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from digital payments to trading of tokens such as Bitcoin and Ether. ...

Bloomberg The Chinese Embassy to Denmark wants the newspaper Jyllands-Posten to apologise for publishing a drawing that depicts China’s flag with virus symbols instead of five stars. “We express our strong indignation and demand that Jyllands-Posten and [cartoonist] Niels Bo Bojesen reproach themselves for their mistake and publicly apologise to the Chinese people,” the embassy said in a statement on ...

ABU DHABI / WAM The UAE ranked first in the Arab world and 21st globally on the Global Labour Resilience Index 2020, which was issued in Davos, Switzerland during a special session held on the sidelines of the 50th summit meeting of the World Economic Forum in the presence of Sultan bin Saeed Al Mansouri, Minister of Economy, and officials ...

SHARJAH / WAM The Sharjah National Oil Corporation (SNOC) and its Italian partner ENI, have announced a successful new discovery of natural gas and condensate onshore at the Mahani field in Sharjah. The discovery at Mahani-1 exploration well, with flow rates of up to 50 million standard cubic feet per day, comes within the first year of the partnership and ...

ABU DHABI / WAM Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs, received Pavan Kapoor, Ambassador of India to UAE, to discuss ways of promoting bilateral ties between UAE and India. The two sides explored ways of enhancing cooperation relations across various fields. They also reviewed issues of mutual interest and exchanged views on regional, international developments. ...

Bloomberg Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply. Futures plunged more than 3% as China reported an increase in fatalities and infections. While the country extended the Lunar New Year holiday to control the outbreak, more cases have been reported in ...

DUBAI / WAM Emirates NBD has announced that it delivered a strong set of results with net profit up 44% y-o-y to AED14.5 billion in 2019. According to a press statement issued by the bank on Monday, net interest income increased 26% due to loan growth and non-interest income grew 38% due to higher foreign exchange and credit card related ...