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  Bloomberg India is aspiring to compete with the likes of Singapore and Hong Kong for foreign entrepreneurs by offering residence in return for investment. Foreigners investing 100 million rupees ($1.5 million) over 18 months, or 250 million rupees over three years, would be eligible to live in India for 10 years, the government said in a statement in New ...

  Bloomberg India has set a one-month deadline to begin implementing steps to resolve a dispute over natural gas that migrated from Oil & Natural Corp.’s offshore block in the Bay of Bengal to the adjoining assets of Reliance Industries Ltd. Oil Minister Dharmendra Pradhan said Wednesday that a government panel has endorsed findings by an outside consultant that studied ...

  Bloomberg Foreign investors’ infatuation with Vietnam is waning. After pumping in $3.4 billion since 2006, overseas traders are set to be net sellers of assets traded on Ho Chi Minh City Stock Exchange this year for the first time in a decade, according to data compiled by Bloomberg. While the benchmark VN Index is near an eight-year high, MSCI ...

  Bloomberg China Evergrande Group’s debt-fueled expansion spree shows no signs of slowing down. Even as soaring interest payments and marketing costs ate into first-half profit, a top executive at the Chinese developer said late Tuesday that the company wants to acquire brokerage and trust companies as well as smaller rivals — deals that would add to about $6 billion ...

  Bloomberg Billionaire Guo Guangchang called China’s peer-to-peer lending industry “basically a scam,” arguing that players in the multi-billion dollar sector, troubled by collapses and frauds, lack the ability to price risk. Guo was responding to a question at a post-earnings briefing by his conglomerate Fosun International Ltd. in Hong Kong about any P2P investments by the firm. Chief Financial ...

  ABU DHABI / WAM The UAE Banks Federation announced that the MoU regarding the ownership and operation of the mWallet platform has been signed by all 16 UAE equity partner banks in the entity. The mWallet platform, which is the financial component of the UAE Smart Government initiative, or the mobile wallet, was initially unveiled in 2014 as an ...

  Dubai / EMIRATES BUSINESS Emirates Islamic, one of the leading Islamic financial institutions in the UAE, on Tuesday announced that it successfully closed a US$ 250 million tap of its earlier US$ 750 million 5-year Sukuk issued in May 2016. This is under the bank’s US$ 2.5 billion Certificate Issuance Programme. The tap generated an order book of US$ ...

Dubai / EMIRATES BUSINESS The Smart Dubai Office hosted 30 MBA students from the International Institute of Management Development (IMD), Switzerland for an interactive Smart Dubai workshop held at His Highness the Ruler’s Court yesterday. The one hour workshop included HE Dr Aisha Bin Bishr, Director General of the Smart Dubai Office sharing an overview of the office, its current ...

Dubai / EMIRATES BUSINESS The ICT Fund, the financing tool of the Telecommunications Regulatory Authority (TRA), announced it is organizing the UAE Drones for Good Award and the UAE AI Robotics for Good Award, two different sets of competitions each having local and international categories. The awards aim to encourage innovative ideas and designs intended to help serve humanity using ...

  ABU DHABI / WAM Abu Dhabi Ship Building (ADSB) announced the commissioning of the company’s first floating dock, located in Mina Zayed, with the aim of expanding its commercial service offerings. Commenting on the occasion, Dr Khaled Al Mazrouei, CEO of Abu Dhabi Ship Building, said, “We are proud to announce this latest milestone for Abu Dhabi Ship Building. ...