News

  Bloomberg SoftBank Group Corp. is close to tying up $100 billion for a technology fund that it announced with the government of Saudi Arabia, the Japanese company’s founder and Chief Executive Officer Masayoshi Son said. “I am talking to a few investors and I think we are oversubscribed,” Son said at an event in New Delhi on Friday, without ...

  Bloomberg Malaysia said it would provide greater hedging flexibility in its onshore currency market after the central bank’s moves last month to discourage speculators saw the ringgit tumble toward its weakest since 1998. Overseas and domestic fund managers will be allowed to manage their foreign exchange exposure of as much as 25 percent of invested assets, the central bank ...

  Bloomberg The boardroom battles at the $100-billion Tata Group business empire have escalated into a Twitter war of the kind corporate India has never seen. Thousands of tweets with hashtags such as #WadiaTruthsTataLies, #CyrusMistryforGovernance and #RaTantrum are trending, steered by supporters of deposed chairman Cyrus Mistry. On the other side are #TataForIndia and #Support4Tata, maneuvered by the supporters of ...

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan received congratulatory cables on the occasion of the 45th National Day from presidents, kings and leaders of a number of friendly countries. Also, world presidents, leaders and heads of state congratulated Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid ...

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered the distribution of 365 houses and 5,463 plots of land to citizens in Abu Dhabi, Al Ain and the Western Region. The move is in implementation of the directives of President ...

  TOKYO / WAM Japan imported 21.326 million barrels of crude oil from the United Arab Emirates in October 2016, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 22.5% of Japan’s total crude imports, the agency, part of the Ministry of Economy, Trade and Industry, said. Saudi Arabia provided 39.123 million barrels, ...

  ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB) announced that it had repaid in full a US$500 million Islamic bond or sukuk from its own resources, reflecting what it said was its strong liquidity position amid difficult market conditions. The sukuk matured on November 30. The five-year sukuk, which were listed on the London Stock Exchange, were more ...

  London / AFP Oil prices rose on Thursday, building on a surge triggered by OPEC’s output decision. World crude prices soared almost 10 percent on Wednesday after OPEC hammered out a deal to cut oil output for the first time in eight years. Prices were up nearly 3 percent in Thursday trading. Joshua Mahony, market analyst at IG trading ...

  Abu Dhabi / WAM The government is confidently progressing to deliver indicators of the National Agenda leading to the UAE Vision 2021 which seeks to develop and improve conditions in areas of justice, security, economy, environment, living standards, housing, education, health and infrastructure, His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, has declared. “The ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said that as we celebrate the 45th anniversary of the UAE National Day under the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, we recall the intrinsic values that brought ...