News

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launched a new phase of Dubai’s Happiness Agenda. Under the new phase, a Happiness Champion working in customer-oriented services will now be referred to as a ‘Smart City Experience Specialist’ while a Champion working in Human Resources-oriented ...

Abu Dhabi / WAM The National Programme for Small and Medium Enterprises of the Ministry of Economy, the executive arm of the UAE SME Council, announced its plan to support and stimulate the country’s SME sector and promote entrepreneurship during the year 2020, encompassing specialised training programmes and courses for entrepreneurs, establishing a link with the European Business Network, etc. ...

Dubai / WAM As part of its keenness to communicate with its global partners, and establish cooperation relations with them to promote and develop Dubai’s real estate sector, the Dubai Land Department (DLD), through its Registration and Real Estate Services sector, toured London, during which it held seven benchmark meetings with its most prominent partners across several fields. Majid Al ...

Abu Dhabi / Emirates Business Abu Dhabi Ports is on-pace to close 2019 with impressive year-to-date results and recording-breaking milestones, underlining the company’s continued contribution to the UAE’s non-oil GDP. Two of these milestones were achieved in the eleven months spanning from January to November 2019. During the period, the company handled more than 20 million tonnes of general cargo ...

Bloomberg It’s been a good year for Asia’s richest man, Mukesh Ambani. The Indian tycoon added almost $17 billion to his wealth as of December 23, the most in Asia, taking his net worth to about $61 billion, according to the Bloomberg Billionaires Index. In comparison, Alibaba Group founder Jack Ma’s net worth grew $11.3 billion, while Jeff Bezos lost ...

Bloomberg India’s slowing economy is sparking a wave of consolidation, creating opportunities for Asian lenders. It’s worked like this: Banks desperate for higher yields have turned to lending for leveraged buyouts in India. The loans have supported private equity funds executing the deals. Foreign-currency syndicated LBO loan volumes involving India have jumped to $891 million across four deals in 2019, ...

Bloomberg Japan’s government is considering holding off on its plan to sell about $10 billion worth of shares in Japan Post Holdings Co through this fiscal year following scandals involving its insurance unit, according to people familiar with the situation. Concern over corporate governance and the tumbling stock price have made it difficult to sell the third and final tranche ...

Bloomberg The Chinese government is trying to set the economy up for a stronger start to 2020, with a multi-pronged policy push ranging from easier monetary settings to freer trade. The latest pledge came when Premier Li Keqiang signalled that further cuts in the amount of cash that banks have to park as reserves will be forthcoming. In theory, that ...

Bloomberg Thailand will narrow its inflation target from next year as consumer-price growth remains subdued in the Southeast Asian nation. The central bank’s new goal is to keep annual headline inflation within a 1%-3% range, compared with 1%-4% previously, Narumon Pinyosinwat, a government spokeswoman, said on Tuesday in Bangkok following a cabinet meeting that approved the change. Speaking to reporters ...

Bloomberg BMW AG is being scrutinised by the US Securities and Exchange Commission (SEC) over its sales reporting practices, months after the regulator extracted a penalty from Fiat Chrysler Automobiles NV over similar issues. The German automaker has been contacted by the SEC and will cooperate fully with its investigation, Phil DiIanni, a spokesman, said by phone. The agency doesn’t ...