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DUBAI / WAM Setting the direction for the government to follow in the coming decades, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai recently declared, “The government’s development and readiness for the future portfolio is one of the key priorities of the UAE for the coming period. Improving government ...

Abu Dhabi / WAM Waha Capital, an investment company in Abu Dhabi, has announced the launch of a new income-focused Islamic fund, adding to its three existing funds within its asset management business. The new fund, to be called “Waha Islamic Income Fund SP”, will invest in Sharia compliant assets across the sukuk and equity markets, and will have a ...

Abu Dhabi / WAM Abu Dhabi Terminals (ADT) the manager and operator of the region’s first technologically advanced semi-automated terminal at Khalifa Port, has been In-Country Value certified. In-Country Value is defined as the total spend retained in-country that can benefit business development, contribute to human capability development, and stimulate productivity in the UAE economy. Obtaining the certification not only ...

Dubai / WAM Dubai Municipality has announced that it has opened Mushrif Park to cyclists every day from 6 am to 9 pm free of charge. The move is part of the Municipality’s plan to provide special lanes in its parks for cycling enthusiasts and in implementation of the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, ...

Bloomberg India must stop building coal infrastructure and focus on renewable power generation to aid the global fight against climate change and lift its citizens out of poverty, United Nations Secretary-General Antonio Guterres said. The nation, the biggest coal consumer after China, must invest in a “clean, green transition” as it recovers from the Covid-19 pandemic, Guterres said at an ...

Bloomberg Reliance Industries said it will acquire the retail, wholesale, logistics and warehousing units of India’s Future Group for 247.1 billion rupees ($3.4 billion), in a transaction that will propel Mukesh Ambani’s ambitions to dominate India’s retail sector. Future Group will merge some of its remaining businesses into Future Enterprises, Reliance Retail Ventures said. Ambani’s unit will then invest 12 ...

Bloomberg Indonesia’s efforts to revive the economy took a stumble as virus outbreaks forced factories in one of its biggest manufacturing hubs to shut. South Korea’s LG Electronics Inc, and Japan’s Suzuki Motor Corp and NOK Corp were told to stop operating their facilities in Cikarang, West Java, after more than 300 workers at the industrial area tested positive for ...

Bloomberg Xiaomi Corp’s shares leapt 11.4% after inroads into the Chinese market for high-end smartphones and strong growth overseas helped the company report better-than-expected profit. The stock climbed its most in two years in Hong Kong, taking its 2020 gains to 98% last week. The Chinese smartphone maker more than doubled net income to 4.49 billion yuan ($716 million) in ...

Bloomberg Singapore has long been the city of choice for Western expats wanting an easy entrée into Asia. Clean, efficient, with low tax rates, it’s often seen as rivaling Hong Kong, especially with that city hit by street protests and unrest over China’s new national security law. Yet just when Singapore should be a magnet for global talent, some recruiters ...

Bloomberg Police clashed with far-right protesters in Berlin and made about 200 arrests after tens of thousands of people rallied mostly peacefully against German restrictions to contain the coronavirus pandemic. An estimated 38,000 people took part in at least two rallies near key federal government buildings, according to broadcaster ARD. Later, violence erupted between law enforcement and about 3,000 far-right ...