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ABU DUBAI / WAM Etihad Credit Insurance (ECI), signed a Memorandum of Understanding with Abu Dhabi Global Market (ADGM), to promote and sustain an effective financial ecosystem and provide an advantageous business environment that nurtures collaboration and international competitiveness of UAE businesses. Signed during FinTech Abu Dhabi, this agreement will enable the two institutions to support the development of numerous ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa), announced that Sharjah Sustainable City is one of the leading environmental projects participating in the 21st Water, Energy, Technology and Environment Exhibition (Wetex 2019.) Sharjah Sustainable City is the first project in emirate that meets the highest standards of green economy and environmental sustainability. It is the outcome of a strategic partnership ...

Fujairah / WAM The National Bank of Fujairah (NBF), announced a net profit of AED511.6 million for the period ended September 30, an increase of 10.7 percent over the corresponding period of 2018. According to a press release issued by NBF on Wednesday, the Bank also achieved strong operating profit of AED862.3 million which increased by 7.2 percent compared to ...

Bloomberg The dust had barely settled at Infosys Ltd when Asia’s No. 2 software services firm once more found itself grappling with a potential leadership crisis. For the second time in about as many years, the Indian icon synonymous with the country’s technological ascendancy is being forced to answer accusations of impropriety. In the most recent of a stream of ...

Bloomberg JSW Steel Ltd’s quarterly profit rose 20% from a year earlier as India’s most valuable steelmaker benefited from a one-off tax gain and boosted exports to offset a slowdown in domestic demand. Group net income at the Sajjan Jindal owned mill climbed to 25.6 billion rupees ($361 million) in the July to September quarter, it said on Wednesday in ...

Bloomberg Singapore’s economic growth will likely remain weak, weighed down by subdued global demand and a downturn in the electronics cycle, according to the International Monetary Fund (IMF). Across the region, uncertainty about US-China trade tensions and oil prices remain the biggest risks, Jonathan Ostry, deputy director of the Asia Pacific department, said at a joint conference hosted by the ...

Bloomberg Investors in a snack maker’s initial public offering in Hong Kong were sitting on losses just minutes after watching the shares almost triple. Shares in Singapore-based Snack Empire Holdings Ltd surged as high as 188% on their debut on Wednesday, before sinking into the red 45 minutes later. The retail portion of the $16.6 million IPO was almost 14 ...

Bloomberg Tencent Holdings Ltd’s shares are dangerously close to losing a key support level. The biggest stock in Asia fell 2.3% in Hong Kong despite no immediately apparent trigger. Theories circulating round some trading floors included souring sentiment from investors in China, as well as concern that Tencent’s decision to air National Basketball Association (NBA) games may backfire. The stock ...

Bloomberg Chinese buyers are back in the market for American soybeans after crushers in the Asian nation were granted a new round of tariff waivers, according to people familiar with the matter. Soybean processors in China were granted permission to buy another 10 million metric tons of US supplies without retaliatory duties, said the people, who asked not to be ...

Bloomberg The maker of Peugeot cars weathered a slump in the auto industry in the third quarter, helped by demand for popular models like the Peugeot 508 and Citroen C5 Aircross. PSA Group’s revenue grew 1% from a year earlier, the French company said on Wednesday, just ahead of the average estimate of analysts. Automotive revenue was stable. The carmaker, ...