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Dubai / WAM Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia and home to the largest, most developed fintech ecosystem in the region has been awarded ‘FinTech Hub of the Year’ in the FinX awards. This accolade reflects DIFC’s achievements as a global hub for innovation and excellence and further cements ...

ABU DHABI / WAM Government delegations from Egypt, Jordan and Uzbekistan explored the UAE’s successful experiences and governance models through official visits, as part of relevant strategic partnership agreements related to government modernisation. The visits aim to reinforce related partnerships and exchange knowledge and success stories, as well as present development ideas and visions for improving government work and supporting ...

Abu Dhabi / WAM The Federal Authority for Nuclear Regulation (FANR), is keen to coordinate with the National Emergency and Crisis and Disasters Management Authority (NCEMA), to reinforce the country’s response to radiation or nuclear emergencies. According to its annual report, FANR conducted around 15 training sessions and related exercises to ensure its readiness to handle radiation and nuclear emergencies, including ...

Bloomberg Masayoshi Son’s startups have had a rough few months, from a botched initial public offering by WeWork to a sharp decline in shares of Uber Technologies Inc. Now analysts are beginning to calculate that the damage for Son’s SoftBank Group will likely reach into the billions of dollars. Mitsubishi UFJ Morgan Stanley Securities Co cut its profit estimate for ...

Bloomberg Samsung Electronics Co’s de facto leader, Lee jae-yong, plans to give up his board seat after his directorship expires late October as he prepares for another trial over alleged bribery, a person familiar with the matter said. The billionaire heir won’t seek to extend his three-year term on the board of the tech behemoth when it ends on October ...

Bloomberg Traditional members of Indonesia’s Baduy tribe shun footwear and live in woven bamboo houses without electricity, harvesting honey from natural beehives and weaving intricate traditional fabrics by hand. Some younger members then sell the stuff on Instagram. “My wife weaves the fabric, while the honey bottles are supplied by friends,” said Danif, 27, who goes outside the tribal area ...

Bloomberg Nissan Motor Co named the head of its China joint venture as chief executive officer, as the struggling Japanese carmaker seeks to heal deep divisions caused by the arrest of its former chairman and repair fraught relations with partner Renault SA. Makoto Uchida, 53, will work alongside Ashwani Gupta from affiliate Mitsubishi Motors Corp, who was named chief operating ...

Bloomberg Road hauliers said the UK government’s decision to reduce the tariffs it plans to impose on imported trucks following a no-deal Brexit doesn’t go far enough. On Tuesday, the Department for International Trade said it will impose a 10% levy on imported heavy goods vehicles instead of the 22% it had initially planned. The announcement came as part of ...

Bloomberg A jump in manufacturing fuelled a surprise improvement in German industrial production following two months of decline. While good news, the development will do little to alleviate concerns about intensifying trade tensions and waning business confidence. Output rose 0.3% from July, despite a big drop in energy, compared with economist estimates for no change. Investment and basic goods production ...

Bloomberg The European Union’s (EU) antitrust chief Margrethe Vestager says she’s asked European governments for information on tax rulings, pledging to continue a crackdown on potentially unfair corporate tax deals. Governments will have to update their status on how they use tax rulings, following up on a similar sweep in 2014 where the EU gathered information on how many corporate ...