News

Bloomberg Investors are lapping up mortgage bonds in Australia even as regulators and credit assessors step up their warnings about risks from the nation’s housing market. New residential mortgage-backed securities issuance has more than doubled so far this year to A$10.5 billion ($7.8 billion) from A$5.1 billion a year earlier, data compiled by Bloomberg show. More than half of the ...

Bloomberg As the European Union forges closer ties with China, the bloc is also moving to calm concern that Chinese exporters will destroy EU-based industries ranging from steel to solar. The EU will retain the scope to impose hefty levies against Chinese businesses that sell goods below cost in Europe under a planned tariff overhaul, according to Salvatore Cicu, an ...

Bloomberg Toyota Motor Corp. has sold its stakes in Californian electric carmaker Tesla Motors Inc., a spokeswoman for Japan’s largest carmaker said. The sale marks the end of collaboration between the two companies for now, Toyota spokeswoman Akiko Kita said by phone. Toyota held 1.43 percent in Tesla as of July 2016, according to data compiled by Bloomberg. In 2010, ...

Bloomberg Congressional Democrats might abandon their calls for raising the nation’s debt limit without any conditions, with House and Senate party leaders now discussing whether to use their leverage to try to prevent Republicans from enacting tax cuts for wealthy Americans. House Minority Leader Nancy Pelosi signaled the shift, telling reporters that “we’re not there to raise the debt ceiling ...

DUBAI / WAM Dubai Customs’ statistics has revealed that the value of Dubai external trade in the seven primary Ramadan foodstuff in 2016 reached AED16.34 billion. Sugar topped the list at AED5.1 billion, followed by rice at AED4.8 billion, nuts at AED3.7 billion, bottled water at AED1 billion, juices at AED873.8 million, dates at AED813.75 million, and flour at AED57.37 ...

Dubai / WAM Dubai Investments, the leading, diversified investments conglomerate listed on the Dubai Financial Market, has hosted the second round of the training session for ‘Sustainability Champions’ of the company and its subsidiaries. Held under the theme ‘For a Better Partnership within the Dubai Investments Family’, the session focused on the Sustainable Development Goals 2030, outlined by the United ...

Abu Dhabi / WAM Abu Dhabi General Services Company, Musanada, has revealed that work is progressing as planned in the Al Hayer residential project in Al Ain, which will be handed over by early 2019. This forms part of Musanada’s efforts to deliver leading housing projects, thus contributing to achievement of the objectives of Abu Dhabi Plan in the area ...

Abu Dhabi / Emirates Business 1,41,500 fines had been issued for incomplete work permit registration or late renewals against 52,765 private sector companies, the Ministry of Human Resources and Emiratisation (MOHRE) announced on Saturday. Saif Al-Suwaidi, Undersecretary of Human Resources at the Ministry, said, “The number of fines cumulates to 15 percent of total sum of companies recorded within the ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA), launched an updated version of its smart app, Salama Magazine, to facilitate and speed up the experience of children and their parents browsing the traffic awareness and safety publication. The updated edition is enhanced with augmented reality games, which will enable the publication to reach out to children everywhere, the RTA ...

Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADINC), one of the leading regional multi-line insurance providers for corporates and individuals has been recognized for innovation in corporate insurance solutions at the Innovation and Excellence Awards 2017. Commenting on the achievement, Abdulla Al Nuaimi, Excutive Vice President – Shared Services at ADNIC said: “ADNIC’s business strategy is built ...