News

Bloomberg North Korea’s saber-rattling is at last being felt in its southern neighbour’s bullet-proof bond market. Foreign investors have started to look for the exits, selling a net $415 million worth of Korean notes last week, only the second weekly outflow since November, according to the nation’s Financial Supervisory Service. That’s a precipitous drop from the $4.3 billion of net ...

Bloomberg Singapore’s government will support technology startups by doing business with them rather than having them rely on grants as the city-state pushes ahead with a plan to become a high-tech hub, a top minister said. The government wants to fuel private-sector innovation, especially among small and medium-sized firms, in a bid to create a digitally integrated economy, Vivian Balakrishnan, ...

Bloomberg China’s money market is bracing for yet another squeeze. A record 2.3 trillion yuan ($340 billion) of negotiable certificates of deposit—a funding lifeline for medium and smaller banks—are set to mature next month, adding to the stress of an official deleveraging drive that has pressured onshore bonds lower in all but two months of this year. The flood of ...

Abu Dhabi / WAM Bank financing provided to the property and construction sector in the UAE increased by AED16.5 billion during H1 2017, a growth of 6.2 percent from the end of 2016, bringing to AED281.2 billion the total bank credit channeled to the sector by the end of June. According to UAE Central Bank statistics, funding provided to the ...

DUBAI / WAM The Hamdan Bin Mohammed Smart University (HBMSU) hosted a roundtable on the ‘Belt & Road Initiative’ and Islamic Finance Executive Strategy to promote economic cooperation between China and the UAE in the non-oil commercial and production sectors. The event was held with the support of the Dubai Islamic Economy Development Centre and provided an opportunity to capitalise ...

WASHINGTON / WAM The International Monetary Fund (IMF), Arab Monetary Fund (AMF), Arab Fund for Social and Economic Development (AFESD), and the Government of Morocco are to co-host a high-level conference in Marrakesh, on January 29-30, 2018, on promoting higher economic growth, job creation, and inclusiveness in the Arab World. “Opportunities for All: Promoting Growth, Jobs, and Inclusiveness in the ...

The FTA may exempt a Person from registration, but not payment of tax, if they can demonstrate that they will not regularly import Excise Goods. However, anyone who has been exempted from Tax Registration must immediately inform the Authority of any changes to his/her circumstances that would make them subject to tax, and they must do so within the allotted ...

DUBAI / WAM Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced a strategic collaboration with GITEX Future Stars to launch the first-ever Dubai Tourism Start-Up Competition – Futurism, inviting bright minds and innovators from around the world to submit ideas and business plans that will further revolutionise the city’s travel and tourism sectors. The competition is in ...

Abu Dhabi / Emirates Business Tadweer (Waste Management Center – Abu Dhabi) has signed a joint cooperation agreement with Al Mussafah Municipality, through which the two sides will cooperate to use Abu Dhabi Factory Fertilizer products in the total area of agricultural assets estimated at 905,000 square meters of more than 110,000 palm trees, trees and other shrubs, as well ...

ABU DHABI / WAM The Security, Justice, and Safety Committee of the Executive Council of Abu Dhabi, under the chairmanship of Major General Dr Nasser Lakhrebani Al Nuaimi, reviewed the latest updates on combating and countering the spread of false commercial licences and closed shops, as well as the results of the work team’s studies conducted in this respect. The ...