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Bloomberg The US said China continues to focus its policies on exports, and called on its biggest economic rival to implement forceful measures to boost domestic demand. “China’s recovery has been highly imbalanced” since the hit from the coronavirus pandemic, the US Treasury Department said in its semiannual foreign-exchange report. “Stringent containment measures enabled China to quickly resume manufacturing while ...

Bloomberg Razorpay, an Indian startup that facilitates digital payments, is raising $160 million from Sequoia India, Singapore’s sovereign fund GIC Pte and others, tripling its valuation to $3 billion in six months. The Bangalore-headquartered company, which helps businesses to automate their payment systems, will use the funds to expand into banking and lending, make acquisitions and add services in Southeast ...

Bloomberg After spending $120 million on a stake in an online grocer in Norway, SoftBank Group Corp is laying out the business logic of targeting a market that boasts Europe’s highest hourly labour costs. The deal is an example of how countries that pay average workers really well often come up with some of the smartest technology, according to Paul ...

Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, warned for the first time that trade tensions may disrupt its access to key production equipment and hit its operations, amid increasing friction between the US and China. The company, which produces semiconductors for Apple Inc and other major global tech companies, said in its annual report released that ...

Bloomberg Russia hit back defiantly after the US warned of “consequences” if jailed opposition leader Alexey Navalny dies on hunger strike, deepening the conflict over the dissident who’s already survived an alleged assassination attempt. “It’s obvious that Russia’s development as a strong, sovereign state is of no interest” to the West, Vyacheslav Volodin, speaker of the lower house of parliament ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Emirates NBD signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their global competitiveness. The agreement follows the Memorandum of Understanding (MoU) signed in 2019 between Massimo Falcioni, CEO of Etihad Credit Insurance, and Ahmed Al Qassim, Senior Executive Vice ...

Dubai / WAM Coinciding with the ‘100 Million Meals’ campaign, the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH) announced the expansion of food relief operations to 10 additional countries. The MBRCH will finance and implement food support operations in a new list of countries including Benin and Senegal in Africa, Kazakhstan, Uzbekistan, Tajikistan, Afghanistan, Kyrgyzstan and Nepal ...

DUBAI / WAM DP World, UAE region, has taken a step forward to explore the power of Quantum Computing in the logistics and trade industry through collaboration and exploration with D-Wave and other global leaders in the quantum computing sphere. This move will place the company among the top organisations that are exploring the Quantum Computing technology to boost business ...

AJMAN / WAM The Ajman Department of Economic Development (Ajman DED) signed a cooperation agreement with noon.com, the region’s homegrown digital marketplace, to support the growth and success of small and medium-sized companies and entrepreneurs in the emirate, including the members of the Small and Medium Enterprises Programme “Tazeez”, the members of the “Riyada” programme for practicing economic activities at ...

Bloomberg The Czech government alleged Russia was involved in a deadly blast at a munitions site in 2014 and said it’s expelling 18 embassy staffers, signaling that the country is joining growing international pressure to rein in President Vladimir Putin. Prime Minister Andrej Babis’s unexpected announcement coincides with concern in the US and Europe about Russia’s military buildup on the ...