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Abu Dhabi / WAM Khalifa Fund for Enterprise Development (KFED) and the Development Bank of Belarus (DBRB) signed an MoU setting up the framework for future cooperation to develop Small and Medium Enterprises in the Republic of Belarus. The agreement was signed by Hussain Jassem AlNuwais, Chairman of Khalifa Fund for Enterprise Development and Sergei Rumas, Chairman of the DBRB. The ceremony ...

Bloomberg The windfall from being the world’s largest exporter of liquefied natural gas has allowed Qatar to amass about $335 billion of investments around the world through its sovereign wealth fund. Now, a diplomatic spat with neighboring countries threatens to hamper the Qatar Investment Authority’s ability to continue making headline-grabbing global deals. Saudi Arabia and three other Arab countries cut ...

SINGAPORE / Reuters Oil price agency S&P Global Platts, a unit of S&P Global Inc, said on Tuesday it has initiated with immediate effect a review of the deliverability of crude oil loading from Qatari ports. The move follows major Arab nations cutting commercial and diplomatic ties with Qatar. During the review period, and until further notice, Al-Shaheen crude oil ...

Bloomberg India’s Adani Group will proceed with its $16.5 billion Carmichael coal project in Australia’s Queensland state after its board approved a final investment decision on the development. Adani announced the move on Tuesday after last-minute delays due to uncertainty over a royalty deal with the state and amid resistance to the project because of concerns that it will damage ...

Bloomberg China wants to own the 21st Century economy. That’s why Beijing economic planners have mapped out a full-on strategy called Made in China 2025 to dominate in artificial intelligence, robotics, electric vehicles and other key sectors. The government is spending big on tax breaks and subsidies to get these industries off the ground quickly. Call it industrial policy on ...

Bloomberg Noble Group Ltd. shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding. The stock tumbled as much as 11 percent to 28.5 Singapore cents and ...

Bloomberg Congress should extend the US government’s borrowing authority before lawmakers depart for their traditional August vacation, the White House said, as the Trump administration sought to ratchet up pressure on Capitol Hill to avoid an unprecedented default on the national debt. “We’re looking for before they adjourn for August recess,” White House legislative affairs director Marc Short told reporters ...

Bloomberg BHP Billiton Ltd.’s board is being targeted for a sweeping overhaul by Tribeca Global Natural Resources Fund, opening a potential new front in the burgeoning activist campaign against the world’s biggest mining company. The Sydney-based hedge fund, which last month joined billionaire Paul Singer’s Elliott Management Corp. in calling for changes aimed at shifting strategy at BHP, believes about ...

Dubai / Emirates Business The UAE’s free trade zones are using advanced information management tools to drive the doubling of the global free trade zone GDP, experts announced. Globally, the contribution of free trade zones to the Islamic Economy is set to double to USD 117 billion by 2021, according to a recent report by researchers Salaam Gateway. The UAE ...

ABU DHABI / WAM The total monetary aggregate issued in the UAE amounted to AED78.3 billion during the first third of 2017, an increase of AED790 million over the end of 2016, according to UAE Central Bank statistics. According to CB figures, the total banknotes issued by the bank by the end of April are valued at AED77.2 billion, a ...