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Dubai / WAM Emirates NBD announced its partnership with the Arab payment system Buna to facilitate payments and transfers within the Arab region. Buna is operated by the Arab Regional Payments Clearing and Settlement Organisation “Arpcso,” a subsidiary of the Arab Monetary Fund (AMF). The landmark tie-up with Buna will provide Emirates NBD’s clients with a more rapid, efficient and ...

Abu Dhabi / WAM Sarah bint Yousef Al Amiri, Minister of State for Public Education and Advanced Technology, Chairperson of the UAE Space Agency and the Higher Committee of the Abu Dhabi Space Debate, said that the Abu Dhabi Space Debate is a great opportunity to find solutions to the challenges facing the space sector and enhance international cooperation that ...

  Abu Dhabi / WAM The Federal Tax Authority (FTA) has launched its new integrated and fully developed digital tax administration platform “EmaraTax” on Monday. The platform has been successfully activated, with all services now made available to taxpayers using the latest technologies implemented in the tax field around the world. In a press statement, the FTA asserted that the ...

  Abu Dhabi / Gulf Time Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution, on Monday announced the launch of one of the region’s first digital command centres, which allows the bank to utilise the power of data and artificial intelligence (AI) to drive greater efficiencies, optimise performance, enhance its preventive controls and be even more responsive to ...

  Abu Dhabi / WAM In celebration of 51 years of relations based on mutual respect and benefit with African countries, the UAE gifted 51 Ghaf trees to African partners as a gesture of cooperation and keenness to strengthen ties. Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, remarked, “The late Sheikh Zayed bin Sultan Al Nahyan believed that ...

  Bloomberg With its gleaming offices, electric buses and economically productive residents, Nusantara is the quintessential modern metropolis—smack in the middle of a vast rainforest. At least, that’s what the government brochures depict. What they don’t show quite so clearly is where Indonesia will find $34 billion to build a new capital city from scratch. With just 18 months left ...

  Bloomberg Philippine President Ferdinand Marcos Jr’s economic team lowered its 2023 growth forecast as the global outlook worsens and domestic inflation hovers near a 14-year high. Gross domestic product will probably expand 6%-7% next year from a previous projection of 6.5%-8%, the Development Budget Coordination Committee (DBCC), which sets economic assumptions for fiscal purposes, said. It left this year’s ...

  Bloomberg Dollar bonds of China’s largest developer have returned an eye-watering 404% the past month, highlighting the reversal of fortunes in the country’s property sector as policy shifts have brightened investor sentiment. Country Garden Holdings Co notes started slumping in mid-September, just as another round of worry about real estate firms’ liquidity took hold. A dollar bond maturing in ...

Bloomberg Tesla Inc plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn’t living up to expectations. The output cuts will take effect as soon as this week, said the people, who asked not to be identified because the information isn’t public. They estimate the move could ...

  Bloomberg Oyo Hotels said it’s cutting 600 jobs in its corporate and technology departments, or about a sixth of its total workforce. An Oyo spokesman provided the numbers but wouldn’t elaborate on future cuts or restructuring. The company had 3,700 employees before the reduction. SoftBank Group Corp is the largest shareholder in the hotel-booking firm. Oyo last month reported ...