News

  Bloomberg Hong Kong sold the equivalent of $5.8 billion of green bonds denominated in three currencies, as debt markets roared back to life amid a global rush of deals. The city priced $3 billion of dollar bonds across four tenors, a 1.25 billion euro ($1.3 billion) two-tranche note and a 10 billion offshore yuan ($1.5 billion) portion, according to ...

  Bloomberg Foxconn Technology Group has brought the world’s largest iPhone plant to about 90% of anticipated peak capacity, suggesting Apple Inc’s biggest main production partner has secured enough workers despite a Covid resurgence and recent staff upheaval. Foxconn’s plant in the central Chinese city of Zhengzhou is now operating with roughly 200,000 staff, the official Henan Daily reported, citing ...

  Bloomberg Tencent Holdings Ltd entered the club of the world’s 10 most-valuable companies for the first time in six months, reflecting broader investor optimism for Chinese equities as the nation dismantled its stringent Covid Zero policy and refocused on growth. The online gaming firm’s shares have risen more than 80% since a low in October 2022, overtaking oil and ...

  Bloomberg Saddled with a slumping property market, China is extending measures introduced in September 2022 that allow lower mortgage rates for first-home buyers if newly constructed house prices drop for three consecutive months. Cities are eligible to maintain, lower or remove minimum interest rates on loans for first home purchases, according to a statement from the central bank and ...

  Bloomberg Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd, will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. The 65-year-old will oversee strategy, including the building of gigafactories and blue hydrogen facilities, will assess acquisition targets, and is ...

  Dubai / WAM dnata, a leading global air and travel services provider, has broken ground on its new, 20,000 m2 cargo warehouse which will add significant expansion to its operations at Erbil International Airport (EBL). The facility represents an investment of $14 million and will create up to 50 additional, direct jobs with dnata in Iraq. The foundation stone ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan received a phone call from Muhammad Shehbaz Sharif, Prime Minister of the friendly Islamic Republic of Pakistan. During the call, the two leaders reiterated their mutual commitment to further develop bilateral ties between Pakistan and the UAE and reviewed a number of regional and international issues ...

Abu Dhabi / WAM The bilateral trade between Pakistan and the United Arab Emirates is expected to grow double from the $10.6 billion volume achieved in 2021-2022, Pakistan’s top diplomat in the UAE said. The last calendar year recorded a $10.6 billion in trade “the highest volume Pakistan had in the Middle East and North Africa (Mena) region,” he added. ...

Dubai / WAM Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, launched the Solar & Renewable Energy Business Group, to drive the uptake of renewable energy amongst businesses and the private sector in Dubai. “As the world shifts to renewable energy and a decarbonised economy, the establishment of the Solar & Renewable Energy Business Group ...

  Fujairah / Gulf Time In a nationwide first, National Bank of Fujairah (NBF) on Wednesday announced the introduction of CVVkey, a proven solution to online card fraud that can be used across all credit and debit cards issued by the bank. CVVkey will be a key element in NBF’s efforts to improve cybersecurity across its operations and protect its ...