News

  Bloomberg Malaysia will have to present the new spending plan for 2023 to parliament by the first quarter of next year, Prime Minister Anwar Ibrahim said. He said this as he tabled a special allocation involving 107.7 billion ringgit ($24 billion) in the House of Representatives. Anwar, who doubles as finance minister, said the bill was for the purpose ...

  Bloomberg Thailand, the world’s biggest rice exporter after India, is on track to ship the highest volume in four years as importing countries boost purchases to replenish stockpiles and keep a lid on food inflation. Exports will probably climb to 8 million tons this year as a weak currency boosts competitiveness and countries such as China look to rebuild ...

  Bloomberg South Korea’s early trade data showed an export-slump persisting in December in the face of stiffening global economic headwinds. Shipments decreased 8.8% in the first 20 days of the month compared with a year earlier, the customs office said on Wednesday. That compares with a 14% drop for the full month of November. The country posted a $6.43 ...

Bloomberg Volkswagen AG is requiring employees at one of its factories in southern China to work extended hours to compensate for production losses after staff came down sick with Covid, a person familiar with the matter said, as a wave of infections snakes across the country. The German carmaker has arranged for staff in several workshops at a plant it ...

  Abu Dhabi / WAM The UAE affirmed its full support and solidarity with the Hashemite Kingdom of Jordan in reflection of the strong ties between the two countries and peoples, stressing the importance of ensuring stability and security in the country. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed the UAE’s support for all ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Sunday, January 1, 2023, will be an official paid holiday in the UAE for all private sector employees. The holiday is in accordance with the UAE cabinet decision on approved official holidays for government and private sectors.

  Abu Dhabi / WAM Credit financing provided by national banks to the trade and industry sectors totalled AED37.2 billion in the first nine months of 2022, according to recent data issued by the central bank of the UAE (CBUAE). The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has launched a new sustainability-linked current account for corporate clients, extending its leadership as an environmental pacesetter for the UAE banking sector. The new FAB Sustainable Account will support clients in achieving ESG objectives by contributing ...

  Dubai / Gulf Time Deyaar Development PJSC (Deyaar), one of the leading real estate developers and service providers in Dubai, has announced its intention to launch a trio of new projects in Al Furjan worth approximately AED300 million. The three projects will comprise residential units and hotel apartments and will include approximately 400 diverse units consisting of one, two ...

  Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) has received the e-Marketplace Champion Award for its excellence in digital adoption from blockchain-powered e-Marketplace TradeAssets. With TradeAssets platform, Adib has secured 130 deals with total value of over $128 million till date and 11 banks from Bangladesh. Abdulla Shehhi – Global Head International Business Group (IBG), at Adib, said, ...