News

DUBAI / WAM Hessa Essa Buhumaid, Minister of Community Development, met Akihiko Nakajima, Ambassador of Japan to the UAE, and exchanged views on the UAE’s community development initiatives, and the care for members of society, especially senior citizens. The minister relayed the UAE experience in community care for Senior Emiratis and family cohesion based on diversified policies and legislation following ...

Sharjah / WAM Sharjah Islamic Bank (SIB), reported a six percent increase in its net profit, amounting to AED151.7 million in the first quarter of 2019, compared to AED143.1 million reported for the same period last year. The bank’s total assets reached AED42.8 billion at the end of March quarter with the same level achieved by the end of 2018. Total ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, hosted a delegation from the French Business Group – Abu Dhabi in which the operational framework, vision, mission, and investment opportunities at ADX was highlighted to the delegation. Members of senior management attended the event from both sides. Abdul Aziz Al Neaimi, Assistant Chief Executive of ADX, ...

Dubai / WAM The Mohammed bin Rashid Space Centre (MBRSC), has launched the ‘Hope Generation’ initiative to help schools encourage students to study Science, Technology, Engineering, and Mathematics (STEM), fields and increase their curiosity about space science and exploration. This could be done through lectures, workshops and open meetings by MBRSC’s experts for middle school to high school students, and provide ...

Dubai / WAM Omar Sultan Al Olama, Minister of State for Artificial Intelligence and Deputy Managing Director of Dubai Future Foundation (DFF), highlighted the role of building solid international ties, establishing global partnerships, and employing modern technologies across various industries in supporting the UAE’s efforts in developing the industry of the future. He made these remarks while leading a UAE ...

Bloomberg A unit of HNA Group Co defaulted on a loan it took out less than seven months ago, the latest in a string of missed payments that threaten to complicate the embattled Chinese conglomerate’s restructuring. Lenders to CWT International Ltd, a Hong Kong-listed unit of HNA, said they would seize most of the company’s assets — including CWT’s stake ...

Bloomberg India cut its trade deficit with China by the most in more than a decade, according to people familiar with the data, as it boosted exports amid a US-China trade war. The South Asian nation’s exports to China jumped 31 percent year-on-year to $17 billion in the financial year ended on March 31, the people said, asking not to ...

Bloomberg Nissan Motor Co no longer has an office staffed by an inner circle of people working for the chief executive officer following the arrest and exit of former Chairman Carlos Ghosn, a person with knowledge of the change said. The team was abolished as of April 1, said the person, asking not to be identified because the information hasn’t ...

Bloomberg The new Model Y crossover that Tesla Inc hopes will satisfy growing consumer preference for bigger vehicles didn’t make it over to the Shanghai auto show. The car instead will be shown at an event in the US later this month, a spokeswoman said. Still, Tesla is showcasing two Model 3 cars, a Model X and a Model S ...

Bloomberg India’s forecast of plentiful rain during this year’s monsoon may come as a relief to its farmers as well as Prime Minister Narendra Modi, who’s seeking a second term in office in national elections currently underway. Annual rainfall during the June-September rainy season, which waters more than half of the country’s farmland and is crucial for economic growth, is ...