News

Bloomberg Two Indian corporate bonds changed hands at yields of more than 40%, underscoring risks from a shadow banking crisis that’s spilling over into the economy and the rest of the credit market. Indiabulls Housing Finance Ltd’s September 2021 rupee note traded at a record 43.04% while Vodafone Idea’s January 2022 bond traded at 42.91%, exchange data show. Indiabulls’ bond ...

Bloomberg India is considering building 30 gigawatts of renewable energy capacity along a desert on its western border known for its sunny, windy and arid expanse, according to people familiar with the plan. The projects, which will be spread across the states of Gujarat and Rajasthan, are part of efforts to expand the country’s renewable capacity and reduce the share ...

Bloomberg South Korea’s economic growth may miss the government’s target of 2.4% to 2.5% this year, Yonhap News Agency reported, citing the finance minister. Growth is more likely to meet the projections of International Monetary Fund and the Organization for Economic Cooperation & Development, the news agency cited Hong Nam-ki as saying in Washington, where the Group of 20 nations’ ...

Bloomberg A senior Chinese official called for governments around the world to work more closely together to regulate emerging technologies, while taking a veiled swipe at the US for undermining collaboration. “The foundation for an open and shared-by-all internet is unstable,” Huang Kunming, a member of the Politburo, which is comprised of China’s 25 most-senior officials, said at a technology ...

ABU DHABI / WAM Reem Mall, the world’s first fully digitally enabled smart shopping mall, was officially topped out this week after construction reached the highest point for the new mall structure. The topping out at the AED4.4 billion Reem Mall ($1.2bn) was marked by key project representatives from Al Farwaniya Property Developments including Faisal Sultan, Chairman, David Boesley, Executive ...

DHALE / WAM The Emirates Red Crescent (ERC), distributed food baskets to 400 displaced families returning to their liberated villages in the Qa’tabah district of Dhale governorate, Yemen, as part of a series of humanitarian campaigns to support Yemenis overcome adversity. So far, the UAE provided more than 27,000 food baskets to nearly 190,000 people in Dhale, in addition to ...

Dubai / Emirates Business The 5th Annual Construction Summit is set to take place on October 23 at The Westin Mina Seyahi Beach Resort & Marina, Dubai. His Excellency Hussain Almahmoudi, CEO of Sharjah Research Technology & Innovation Park to deliver a keynote speech at the summit. The guests will be welcomed by Paul Wallett, Regional Director, Trimble Solutions Middle ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa), confirmed that 20 South Korean companies will participate in the 21st Water, Energy, Technology, and Environment Exhibition (Wetex 2019), which will be organised by Dewa from October 21-23, at the Dubai International Convention and Exhibition Centre. It will coincide with the fourth Dubai Solar Show, the region’s largest renewable and ...

ABU DHABI / WAM With hidden surprises to be found, Umm Al Emarat Park is inviting the public to gear up and join its first-ever night-time Neon Book Hunt, taking place daily from 6:00pm up to 9:00pm. Using maps, LED neon lights, clues and their detection skills, little ones and adults will have the chance to ‘hunt’ for books dispersed ...

Dubai / WAM Smart Dubai, the Government entity tasked with leading Dubai’s smart transformation, has won three awards at the Stevie Awards 2019 – one Gold, one Silver, and one Bronze. The Award Gala took place in Vienna, Austria. The Gold Stevie was awarded to Smart Dubai’s Smart Employee application in the Human Capital Management Solution category. In addition, Smart ...