News

BLOOMBERG Nigeria’s central bank increased the supply of banknotes to lenders to end shortages that have hampered individual and business transactions and crippled the cash-based economy since January. Most lenders including United Bank for Africa Plc Zenith Bank Plc and FBN Holdings Plc called in staff to help customers access cash in banks or via automated teller machines (ATMs). The ...

BLOOMBERG HSBC Holdings Plc’s acquisition of Silicon Valley Bank’s UK arm made “great sense” from a business perspective and had nothing to do with pressure from regulators, according to Antony Shaw, chief executive officer of the bank’s Australia unit. “It’s an opportunity that doesn’t come along very often,” Shaw said via video from Hong Kong at an AFR banking summit. ...

BLOOMBERG French banks including Societe Generale SA and BNP Paribas SA face collective fines of more than 1 billion euros ($1.1 billion) as part of a probe into tax fraud and money laundering related to dividend payments. HSBC Holdings Plc, Natixis SA and BNP’s Exane unit are also part of the investigation, according to the prosecutors’ office in Paris, which ...

ABU DHABI / GULF TIME Khalifa Saif Almuheirbi, Chairman of the Arabian Gulf Investments Company, affirmed that the cabinet’s decisions approving 24 national initiatives to double re-exports from the UAE by 100% will contribute to strengthening the country’s economic position and placing it among the global countries. Almuheirbi stated that considering the year 2023 the strongest economically shows the huge ...

DUBAI / GULF TIME The Holy Month of Ramadan is upon us and Asha’s welcomes families, friends and loved ones to treasure special moments at a contemporary-meets-traditional Ramadan Iftar menu. Celebrate the spirit of togetherness and embark on a culinary journey this Ramadan with a sublime Iftar offering from the appetizing Asha’s sharing platter to our main course dishes, such ...

ABU DHABI / GULF TIME After a three-year hiatus, a mini two-week Zayed Sports Tournament, one of the popular family sporting events on the Abu Dhabi calendar, is making its triumphant return to Erth Abu Dhabi. The event will run until April 8. Erth Abu Dhabi, the UAE capital’s treasured destination of Emirati hospitality announced that the Zayed Sports Tournament ...

DUBAI / GULF TIME Danube Group announced its contribution of AED 5 million in support of “1 Billion Meals Endowment” campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with the aim of launching the largest Ramadan sustainable food aid endowment fund. Organised by Mohammed bin ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa)’s electricity, water transmission and distribution lines witnessed substantial growth across Dubai in 2022. The total length of transmission and distribution electricity lines has reached 42,586.71 kilometres, and the water transmission and distribution lines has reached 13,769 kilometres. Saeed Mohammed Al Tayer, MD & CEO of Dewa, highlighted Dewa’s commitment to continue ...

ABU DHABI / WAM The proposed Comprehensive Economic Partnership Agreement (Cepa) between Costa Rica and the UAE will bring economic and social benefits to both peoples, a top Costa Rican official told the Emirates News Agency (WAM). “This will in turn bring both countries closer to our development goals,” said Manuel Tovar Rivera, Minister of Foreign Trade of Costa Rica, ...

ABU DHABI / WAM As the world’s investors continue to negotiate with and navigate an increasingly complex international investment landscape and deploy capital to create a sustainable future, Mubadala Investment Company (Mubadala) is launching its Megatrends Study with Bloomberg Media, showing how climate change is a growing threat to the world and digital technologies serve as the greatest opportunity for ...