News

Bloomberg Feel like sharing? Japan might not be your place.Once home to the world’s biggest technology drivers in the 1980s, Japan has missed the boat when it comes to expanding its sharing-economy sector. Miles behind the US and dwarfed by China by more than two thousand to one, Japan’s sharing economy is also smaller than that of other developed economies ...

Bloomberg Chinese state-backed developer China Jinmao Holdings Group Ltd. said its Hong Kong office was searched in a corruption probe. The company’s shares fell as much as 3.3 percent in Hong Kong on Wednesday and JPMorgan Chase & Co. downgraded the stock. Jinmao and its units are not the subject of the investigation, the company said in a filing to ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, launched the One Million Arab Coders initiative, as part of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), foundation. The initiative seeks to equip young Arabs with the tools to build their future, starting with fluency in ...

Abu Dhabi / WAM The UAE Central Bank withdrew AED23.8 billion ($6.53 billion) in excess liquidity in four months, as part of its policy to manage excess liquidity in the banking system. In the meantime, certificates of deposit at the bank rose to the tune of AED126.64 billion by the end of September. Official statistics show that the month of ...

DUBAI / Emirates Business Dubai Trade, the single window for cross-border trade and a DP World company, has integrated its Rosoom secured e-Payment gateway with Tahweel, the e-service portal of Dubai Maritime City (DMC). This partnership supports the Dubai Maritime Sector Strategy and the Smart Dubai initiative. The new step enables companies working in DMC to complete their transactions online ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), and Temenos, the software specialist for banking and finance, have announced their intention to collaborate and strengthen FinTech ecosystem in Abu Dhabi, following the unveiling of ADGM’s Innovation Centre at the FinTech Abu Dhabi Summit on October 23. A key aspect of the collaboration will see Temenos provide a sandbox service ...

Emirates Business The National Bank of Ras Al Khaimah (RAKBANK) Group achieved a 9.4% growth in the consolidated net profit of AED 606.3 million for the nine months ended 30 September 2017. The third quarter of 2017 generated a profit of AED 224.8 million, which is a significant increase of 106.7% year on year. Gross Loans and Advances stood at ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum patronized on Tuesday the opening session of the 4th edition World Green Economy Summit, which kicked off at DWTC in Dubai. Dubai Crown Prince HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Civil Aviation ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, launched the tunnel drilling works of the Route 2020 Project, which will add 15 km to the Dubai Metro Red Line from Nakheel Harbour and Tower Station to the site of Expo 2020 Dubai. His Highness also reviewed ...

DUBAI / WAM Dr Zamir Iqbal, Vice President Finance and Chief Financial Officer of the Islamic Development Bank (IDB) rang the market-opening bell on Tuesday to mark the listing of a $1.25-billion Sukuk on Nasdaq Dubai, the region’s international financial exchange. The listing supports the economic development and social advancement goals of IDB, an AAA-rated multilateral institution, whose activities include ...