News

Bloomberg It’s been a long week for the Shetty family. The billionaire clan behind hospital operator NMC Health Plc and financial services firm Finablr Plc has seen its fortune drop by about $820 million since short-seller Carson Block issued a report criticising the medical company’s accounts and disclosing a short position. NMC shares tumbled 32% in response to the report, ...

Bloomberg Southeast Asia is set for another year of low inflation, generating difficult choices for the region’s central banks. S&P Global Ratings sees inflation remaining below central bank targets in most cases in 2020, according to Shaun Roache, S&P’s chief APAC economist in Singapore. Policy makers may soon have to think about using tools other than interest rates to achieve ...

Bloomberg Google searches for “Operation Twist” surged in India after the central bank announced its version of the US Federal Reserve’s unconventional monetary policy. Most searches for the term came from Maharashtra, the state that’s home to the financial hub Mumbai, and could climb through the day. The benchmark 10-year yield plunged following the RBIs announcement.

Bloomberg Japan’s cabinet approved a record budget for next fiscal year, with social security costs pushing up the bill for a government already struggling to rein in the developed world’s biggest public debt load. Spending by the Japanese government will increase by about 1.2% to 102.7 trillion yen ( in the year starting April, the Finance Ministry confirmed. Outlays on ...

Abu Dhabi / WAM The Department of Municipalities and Transport (DMT), launched an AED 8 billion ‘For Abu Dhabi’ initiative, which will enhance urban spaces and nature sites in a bid to categorise Abu Dhabi as one of the most liveable cities in the world. The new initiative is a part of DMT’s contribution to the Abu Dhabi Government Accelerator Programme, ...

ABU DHABI / WAM Saqr Ghobash, Speaker of the Federal National Council (FNC), stated that promoting tolerance, moderation, openness and coexistence is a key tool for countering terrorism and is one of the values of the Emirati people. He made this statement while receiving, at headquarters of FNC in Abu Dhabi, Vladimir Voronkov, Under-Secretary-General of United Nations Counter-Terrorism Office, who ...

Dubai / WAM Etihad Credit Insurance (ECI), signed a Memorandum of Understanding (MoU) with HSBC to help UAE businesses and exporters access global markets, which will give them a platform for sustainable growth and development over the long-term. The MoU was signed by Massimo Falcioni, CEO of Etihad Credit Insurance, and Abdulfattah Sharaf, Chief Executive Officer, UAE and Head of ...

Bloomberg Shares in Saudi Aramco dropped for a second day in a row a week after its record initial public offering, pushing its market value just below $2 trillion, the level sought by Crown Prince Mohammed bin Salman. Shares ended 2.8% lower at 36.70 riyals in Riyadh, giving the company a total value of $1.96 trillion. The stock was included ...

Abu Dhabi / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court and Chairman of Etihad Rail, has supervised a board meeting during which he approved a AED 4.6 billion ($1.25 billion) tender for the civil works and construction of Package D of Stage Two of the UAE’s national railway. Package D ...

Abu Dhabi / WAM Fujairah Terminals, wholly-owned by Abu Dhabi Ports, celebrated the official start of the 2019-2020’s cruise season with the first-ever cruise turnaround conducted at Fujairah Port. The recent call by the Marella Discovery, a cruise liner operated by TUI UK, at Fujairah Terminals marked the first time a visiting vessel dropped off arriving guests and welcomed new ...