Bloomberg Power supply was restored in most parts of India’s financial capital after its worst blackout in decades disrupted transport networks and briefly hit trading volume in bond markets. Mumbai, home to India’s biggest stock exchanges, financial regulators and the central bank, witnessed a power failure at around 10 am local time. Power tripping — or an overload in the ...
Read More »
Bloomberg An Indian court has reached out to a group of Chinese banks that are trying to recover money from Anil Ambani, in the latest twist in a personal bankruptcy case against the former billionaire. The trio of Chinese lenders won a ruling in a London court in May after pursuing Ambani for more than $700 million in a dispute ...
Read More »
Bloomberg China will take part in a World Health Organization-backed effort to provide a coronavirus vaccine to developing nations, filling a void in global health leadership after US President Donald Trump spurned the program. Beijing joined the $18 billion Covax initiative that aspires to give lower-income countries the same access to vaccines as wealthier nations. The move came despite China ...
Read More »
Bloomberg A slew of luxury hotels opening in Thailand amid the Covid-19 pandemic are pinning their hopes on a government plan to lure high-spending tourists, betting those seeking five-star quarantine will help cushion the devastation wrought on the travel industry. About half-a-dozen luxury hotels that opened in Bangkok during the pandemic, or will open soon, from Four Seasons, Kempinski and ...
Read More »
Bloomberg President Xi Jinping is set to visit Shenzhen this week to shore up plans to make southern China a global technology hub, prompting Hong Kong leader Carrie Lam to delay an annual economic policy address. Xi is scheduled to deliver an address on Wednesday and meet the leaders of Hong Kong and Macau, the official Xinhua News Agency said ...
Read More »
Abu Dhabi / WAM A renewable-energy project in the Maldives, financed by Abu Dhabi Fund for Development (ADFD), has received a certification from Global Innovation Institute (GINI) an international professional certification, accreditation and membership association in the field of innovation. The first of its kind initiative, for which ADFD provided a concessional loan of AED22 million ($6 million) in 2015, ...
Read More »
ABU DHABI / WAM Air Arabia Abu Dhabi has announced the introduction of a new service to Nepal’s capital city Kathmandu with direct flights from Abu Dhabi starting on October 17. According to Air Arabia, the new service represents the eighth route for Air Arabia Abu Dhabi since the launch of the carrier’s service from Abu Dhabi International Airport on ...
Read More »
ABU DHABI / WAM ADQ, a public joint stock company with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s economy, announced on Sunday the launch of “Q Market Makers” (QMM). The new market maker began trading on Sunday on Abu Dhabi Securities Exchange (ADX). Market makers are key market participants that provide a highly effective means ...
Read More »
ABU DHABI / WAM Shuaa Capital, an asset management and investment banking platform in the region, announced that it has launched a $200 million “SHUAA Financing Opportunities Fund” targeting special situations in the GCC. The fund has already attracted a total of $68 million in commitments from investors. Following Shuaa’s recent success in the private credit space in deploying and ...
Read More »
Bloomberg In a couple of years, Japan will be paying the highest rates in the world to incumbent power utilities simply for maintaining generation capacity, including coal and nuclear plants, to help meet electricity demand in times of scarcity. That windfall comes at a time when Japan is seeking to liberalise its market, encourage new entrants and boost the use ...
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.