News

  Bloomberg Indonesia, home to a quarter of the world’s nickel reserves, is proposing the creation of an organization similar to Opec for the metal used in battery-making to coordinate supply. Investment Minister Bahlil Lahadalia expressed the idea of creating an “Opec-like” cartel in a meeting with Canada’s International Trade Minister Mary Ng on the sidelines of the Group of ...

  Bloomberg Alibaba Group Holding Ltd. reported a surprise loss after quarterly revenue barely grew, as China’s rigid Covid controls continue to sap consumer sentiment. Revenue rose a slightly less-than-expected 3% to 207.2 billion yuan ($29 billion) in the September quarter, versus the 209 billion yuan average projection. It reported a net loss of 20.6 billion yuan versus estimates for ...

  Bloomberg On November 14 in Sharm El-Sheikh, representatives from nine countries sat down to dinner. It was the start of the second week of COP27, but this was no panel discussion or debate over loss and damage. The dinner, hosted by California-based startup Good Meat, Washington DC-based nonprofit the Good Food Institute (GFI), and the country of Singapore, was ...

Bloomberg Shares of One 97 Communications Ltd., the parent of India’s leading digital payments brand Paytm, plunged in Mumbai as a unit of Japan’s SoftBank Group Corp. lowered its stake in the company. SoftBank’s SVF India Holdings (Cayman) Ltd. sold 29 million shares of Paytm at 555 rupees ($6.8) each, according to people familiar with the matter, raising 16.1 billion ...

  Abu Dhabi / GULF TIME AD Ports group, the leading facilitator of global trade, logistics, and industry, has signed a land lease agreement for 30 years with Audex Pte Ltd a wholly owned subsidiary of PEC Ltd, a leading integrated project and maintenance solutions provider to the energy, petrochemical, terminal and pharmaceutical industries, with fabrication facilities spread across Asia ...

  Abu Dhabi / WAM The UAE strongly condemned the attack that targeted the Kurdistan Region in northern Iraq, resulting in deaths and injuries. The Ministry of Foreign Affairs and International Cooperation expressed in a statement the UAE’s solidarity with all measures taken by Iraq to protect its sovereignty, security, and stability, stressing UAE’s support for efforts to establish security ...

  Bali / WAM Indonesian Minister of Tourism and Creative Economy Sandiaga Uno has affirmed his country’s eagerness to foster cooperation with the UAE across different sectors, at the forefront of which is the green economy, clean energy, and improving business opportunities. In a statement to the Emirates News Agency (WAM), on the sidelines of the G20 Summit held on ...

  Abu Dhabi / WAM Green Future Project, an Italian ClimateTech platform that offers a turn-key solution for corporate sustainability practices, will contribute to Abu Dhabi’s sustainability efforts by enabling greater access to effective climate solutions for companies as well as individuals across the world from Hub71, Abu Dhabi’s global tech ecosystem. Through its best-in-class portfolio of certified projects, Green ...

  ABU DHABI / WAM Binance, world’s biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). The Financial Services Permission will enable Binance to provide custody to professional clients, provided they meet the conditions of the FSP as outlined by the Financial ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) signed a memorandum of understanding (MoU) with Abu Dhabi Global Market (ADGM), the international financial centre of the UAE capital, collaborating to support the growth needs of the financial community of Abu Dhabi. The MoU entails Adib providing ADGM registered and licensed entities and dedicated client managers Preferential Shari’a compliant banking ...