News

ABU DHABI / Emirates Business As part of its ongoing efforts to introduce the latest developments in corporate governance and their implementation in listed companies, Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, held a workshop on Corporate Governance and Board of Directors’ Role at its headquarters. Senior executives from relevant departments responsible for the application of corporate ...

ABU DHABI / Emirates Business As part of Al Hilal Bank’s Digital and Operations transformation programme, the bank announced the introduction of our Payments STP (straight-through-processing) initiative. With STP, online (internet banking/ mobile banking) fund transfers in AED and inward fund transfers are now carried out almost instantly, adding speed and efficiency to the process. Speaking on the announcement, Alex ...

Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) and H.I.S. Co., Ltd., one of Japan’s leading travel agencies, signed a Memorandum of Understanding (MoU) in Tokyo to confirm a strategic collaboration between the two entities. This month’s agreement marks the first-of-its-kind for Japan’s travel and tourism sector, and emphasises the commitment from Dubai Tourism and ...

Dubai / Emirates Business With imports totalling $452,280,000, the UAE is one of the largest importers of French produce to Middle East, as revealed by French trade agency. UAE residents have been invited to re-discover the diversity, quality and taste of some of France’s most famous brands in a month long partnership with Carrefour. “As tastes evolve and become more ...

DUBAI / WAM The Dubai Roads and Transport Authority (RTA), has announced the establishment of an E-Hail Taxi Joint Venture with Careem Networks Company (Careem); the leading ride hailing technology company in the region. Accordingly, the new company, the name and logo of which will be announced in the next few months, will provide e-hail taxi services to customers beginning ...

Bloomberg Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The move brings the heft and resources of top state law enforcement officials to a fight over the future of oil and gas exploration along the US East Coast. ...

Bloomberg With oil hovering just above its lowest level since August 2017, at least one large investor is dumping a BlackRock Inc exchange-traded fund (ETF) tracking the global energy industry. Two large blocks of the $1.4 billion iShares Global Energy ETF, or IXC, sold. The first was 1.1 million shares worth $34 million at 10:37 am in New York, and ...

Bloomberg Huawei Technologies Co. wanted a better way to test its telephone handsets, so it sent an engineer to see “Tappy,” the robot in partner company T-Mobile US Inc’s laboratory in Bellevue, Washington. “Tappy,” computer-driven and tireless, taps on touch screens, simulating weeks of use in a day. The Huawei engineer was curious about Tappy’s fingertips. So he slipped one ...

Bloomberg The Indian government has sought to reopen the books of Infrastructure Leasing & Financial Services group, alleging evidence of auditing lapses was uncovered while looking into allegations that funds were siphoned from the beleaguered financier. A probe by India’s Serious Fraud Investigation Office indicated the lender’s accounts were fraudulent and mismanaged, Sanjay Shorey, a lawyer for the government told ...

Bloomberg Carlos Ghosn’s lawyer challenged allegations by prosecutors that the former Nissan Motor Co. chairman transferred personal financial losses to the Japanese automaker. While rearresting Ghosn, the prosecutors alleged Ghosn used Nissan’s money to pay a person who helped him meet payments to maintain a personal trading position during the 2008 global financial crisis. On Sunday, Motonari Otsuru, the main ...