News

Bloomberg Thyssenkrupp AG is considering a radical breakup plan as a possible alternative to the proposed combination of its European steel operations with India’s Tata Steel Europe Ltd., according to people familiar with the matter. Under the alternative scenario, Thyssenkrupp would retain its European steel operations and hive off most or all of the other activities, said the people, who ...

Bloomberg China’s foreign-exchange regulator is examining how some of the country’s biggest dealmakers used their domestic assets as collateral to get loans overseas, people familiar with the matter said. The State Administration of Foreign Exchange recently began reviewing loan guarantees for Anbang Insurance Group Co., Dalian Wanda Group Co., Fosun International Ltd., HNA Group Co. and the Chinese owner of ...

Dubai / WAM More than AED204 billion of investments are generated by 201 plastics plants operating in Abu Dhabi, according to the Industry Development Bureau of the Abu Dhabi Department of Economic Development (ADDED). The revelation came during a workshop organised by the bureau as part of the ADDED’s ‘Industry Dialogue’ initiative, aimed at bolstering an investment-conducive environment at the ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a federal decree No. 84 of 2017 to transfer and appoint Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations to the position of Director-General of the Federal Tax Authority and the rank of an Undersecretary at Ministry. The Director General of the FTA ...

NEW DELHI / WAM Relations between the UAE and India, which received a fillip when His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited New Delhi as chief guest for Indian Republic Day in January, are set to scale greater heights. Intense preparations are under way ...

Abu Dhabi / WAM Abu Dhabi Global Market (ADGM) and Capital Markets Authority (CMA), Kenya signed a FinTech cooperation agreement which provides a fra-mework to support financial innovation in each jurisdiction. Richard Teng, Chief Executive Officer, Financial Services Regulatory Authority (FSRA) of ADGM, and Paul Muthaura, Chief Executive, CMA Kenya signed the agreement, which expands both parties’ FinTech cooperation network ...

ABU DHABI / WAM Nawah Energy Company has announced the achievement of a number of milestones in the area of operational readiness. The company has begun making arrangements to welcome the Pre-Operational Safety Review Team, Pre-OSART, from the International Atomic Energy Agency (IAEA) for their planned mission for Unit 1 at Barakah Nuclear Power Plant (BNPP) in Al Dhafra Region ...

ABU DHABI / WAM Abu Dhabi Department of Economic Development and Federal Authority for Competitiveness and Statistics (FCSA) signed a joint cooperation agreement to reinforce the strategic partnership between the two sides through the exchange of the database, experiences and knowledge. The MoU was signed at the FCSA headquarters by Abdulla Naser Lutah, Director-General of the Authority, and Khalifa Bin ...

DUBAI / WAM Barclays has announced its sponsorship for the Mind Cloud Entrepreneurship programme, the UAE’s first government accredited initiative for entrepreneurs. The initiative aims to elevate the entrepreneurship skills for participants, in collaboration with Dubai Business Women Council (DBWC), the UAE’s leading platform for the personal and professional development of women in the emirate and beyond. The all-inclusive programme ...

AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, has viewed the most important current, and future, infrastructure projects in Ajman that seek to promote local development under the framework of the emirate’s overall renaissance, to become a modern and advanced international city. This took place during his meeting ...