News

  Bloomberg Data centre operator GDS Holdings Ltd is considering selling a minority stake in its international business for about $300 million to $400 million to a strategic partner, according to people familiar with the matter. The Shanghai-based digital infrastructure company is working with an adviser and is weighing selling about a 30% to 40% stake in the assets, the ...

  Bloomberg Thailand plans to enlist the services of private companies to boost response to its long-term resident visa program targeted at highly-skilled foreign workers and wealthy pensioners. The firms will assist government agencies to draw more applications for the 10-year resident visas unveiled last year, according to Narit Therdsteerasukdi, secretary-general of Thailand’s Board of Investment. They will also promote ...

  Bloomberg Singapore’s core inflation, the gauge closely-watched by the central bank, rose to a 14-year high, even after the central bank has tightened policy five times since October 2021. The measure, which excludes private transport and accommodation, rose 5.5% in January from a year earlier, the fastest pace since November 2008 according to a statement. That compares with a ...

  Bloomberg Grab Holdings Ltd brought forward its profitability target after posting a narrower quarterly loss, helped by reduced spending by the Southeast Asian ride-hailing and food-delivery provider. The stock jumped 8% in pre-market trading after Grab said it expects to reach positive adjusted earnings before interest, taxes, depreciation and amortisation in the final quarter of 2023. It previously expected ...

  Bloomberg Vietnam’s property debt crisis is intensifying as the country’s second-largest developer joined the ranks of peers seeking debt extensions after failing to repay a bond on time. No Va Land Investment Group said it will delay repayment of a 1 trillion dong ($42 million) note originally due on February 12 and asked holders for an extension or to ...

Abu Dhabi / WAM The UAE’s Joint Operations Command has announced that the “Chivalrous Knight / 2” operation has entered the recovery and rehabilitation stage to support those affected by the earthquake in Syria and Türkiye. The Joint Operations Command — through maritime aid corridor — will mobilise humanitarian, food, and medical assistance while continuing the operations through the existing ...

  Abu Dhabi / WAM Preliminary data from the Federal Center for Competitiveness and Statistics indicates that non-oil trade exchange between the UAE and Saudi Arabia in 2022 experienced a growth rate of 9%, reaching AED136.09 billion, compared to AED124.6 billion at the end of 2021. Over the period of 2013-2022, non-oil trade between the two countries increased by 70%, ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have sent congratulatory messages to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the Founding Day of ...

  Abu Dhabi / WAM Tawazun Council signed nine deals, worth AED5.7 billion, with local and international companies on behalf of the Ministry of Defense, and two deals worth AED134 million on behalf of Abu Dhabi Police on the third day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2023, bringing the total number contracts signed ...

  Abu Dhabi / WAM Khalifa Fund for Enterprise Development and Al Dhafra Co-operative (ADCS) signed a memorandum of understanding to encourage entrepreneurship and stimulate the development of SMEs in the UAE’s F&B sector. The partnership between the two respective parties will see Khalifa Fund members receive a number of benefits, such as a full waiver of the ADCS entry ...