News

  SHARJAH / WAM Under the theme ” Finance and investment for an Innovative Economy”, the Euromoney Emirates Conference kicked off Monday in Sharjah, with more than 350 leading thinkers and financial analysts reviewing issues of relevance to financing, financial legislation and fiscal policies. Under the patronage of His Highness Sheikh Sultan bin Mohamad bin Sultan Al Qasimi, Crown Prince ...

  ABU DHABI / WAM Sandooq Al Watan, a national initiative launched by prominent Emirati businessmen to support research projects, received AED4 million in contributions to help support its efforts to build a sustainable knowledge economy. Of the total received, AED3 million was donated by Emirati businessman Sheikh Mohamed bin Sultan bin Srour Al Dhaheri, and the remaining AED1 million ...

  Abu Dhabi / Emirates Business Emirates Classification Society ‘TASNEEF’, through its subsidiary the internationally recognized certification body ‘TASNEEF-RINA Business Assurance’, successfully handed over the ISO 9001:2015 quality management system certificate to Abu Dhabi Autonomous Systems Investments (ADASI), the region’s first one stop solution provider within the autonomous system industry. The announcement was made during a ceremony with representatives from ...

  DUBAI / Emirates Business Retail therapy starts early this summer in Dubai with the 3-day Super Sale, a new citywide retail initiative that will offer shoppers the opportunity to pick up amazing deals across a range of merchandise at participating outlets from May 18-20. Organised by the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of ...

  Bloomberg Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes. In separate statements just hours apart on Monday, the world’s largest crude producers said publicly for the first time they would consider prolonging their output reductions for longer than ...

  Bloomberg Bahrain’s foreign-currency reserves tumbled 11 percent in February, extending a decline that has fueled speculation that the island kingdom would either tap international bond markets soon or seek financial support from other Gulf Arab monarchies. Net foreign assets dropped to 645.2 million dinars, from 725.9 million dinars in January, according to central bank data released on Sunday. Overall, ...

  Bloomberg Iran’s gold jewellery demand climbed to a four-year high in the first quarter, as the rest of the Middle East was hurt by low oil prices. An improving economy helped Iran’s jewelry demand climb 27 percent from a year earlier to 12.9 metric tons in the first three months this year, the World Gold Council said in a ...

  Bloomberg China is considering plans to create three power giants through mergers of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan ($855 billion), according to people with knowl-edge of the plan. The proposal, which is only one option being considered as the government of President Xi Jinping seeks to restructure the state-run power sector, ...

  Bloomberg Garena has rebranded as Sea Ltd. after Southeast Asia’s most valuable startup secured $550 million in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia. The eight-year-old startup backed by Tencent Holdings Ltd. landed a clutch of new investors in its latest funding round, including some of the region’s wealthiest families. ...

  Bloomberg How much pain can China’s leaders stomach? It’s becoming a key question for investors as the government’s clampdown on financial leverage ripples through markets. The tightening campaign has erased at least $453 billion from the value of Chinese stocks and bonds since mid-April, spurred $21 billion of canceled debt sales and compelled the People’s Bank of China to ...