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Bloomberg The speaker of Sri Lanka’s parliament has warned his country could descend into political violence if the legislature remains suspended throughout a leadership struggle that has plunged the island nation into a constitutional crisis. The capital Colombo was gripped by political intrigue after President Maithripala Sirisena said he had to fire Prime Minister Ranil Wickremesinghe late on Friday because ...

Bloomberg Chinese firms combating tight funding conditions are bracing for the next shoe to drop: a record amount of perpetual bonds up for redemption. Some 48.9 billion yuan ($7 billion) of perpetual notes will have first call dates this quarter, which means they either have to repay the debt or be forced to increase interest rates by as much as ...

Bloomberg The world’s largest healthcare program in India is running up against a challenge: many of its 500 million beneficiaries don’t have a clue about it, as they didn’t have to enroll for it. Prime Minister Narendra Modi’s solution is to tackle the problem at its roots. He is writing letters to 100 million families educating them about the benefits ...

Bloomberg IBM’s $33 billion purchase of Red Hat Inc — the world’s second-largest technology deal ever — is aimed at catapulting the company into the ranks of the top cloud software competitors. The cash deal, IBM’s biggest by far, boosts the 107-year-old computer-services giant’s credentials overnight in the fast-growing and lucrative cloud market — and gives it much-needed potential for ...

Bloomberg Quid Inc, a startup that helps companies analyse large volumes of text from news, social media and the web, raised $37.5 million in venture funding, the company plans to announce on Monday. The deal was led by REV Ventures, the investment arm of LexisNexis owner RELX Group Plc, which contributed about $10 million. Other investors include Julian Roberson, the ...

Bloomberg Profit secured. Tesla Inc blew away expectations with just the third quarter of positive earnings in its history, bolstering Elon Musk’s bid to make selling electric cars a financially sustainable business. The profit and cash that Tesla generated sent its shares surging to levels last seen in mid-August, when the chief executive officer was still in the midst of ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Sunday inaugurated the fourth session of the 16th legislative chapter of the Federal National Council (FNC). Dr Amal Abdullah Al Qubaisi, Speaker of Federal National Council, delivered a speech welcoming Sheikh Mohammed and his inauguration of the ...

Dubai / WAM Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa, and South Asia (Measa) region, has concluded the first edition of its ‘Finance for Youth’ programme, which gathered over 45 select Emirati finance and business students and fresh graduates for five days of insightful talks and conversations at The Academy. The Programme featured ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Federal Decree-Law No. 14 of 2018 regarding the ‘Central Bank and Organisation of Financial Institutions and Activities’. The provisions of this law does not apply to the Financial Free Zones in the State and the financial institutions regulated by the authorities of those zones. On ...

ABU DHABI / WAM The Registration Authority of Abu Dhabi Global Market (ADGM), has signed a Memorandum of Understanding (MoU), with the Industrial Development Bureau (IDB), of the Abu Dhabi Department of Economic Development (DED), to support strategic industrial projects, expands the region’s industrial sector, and promote economic diversification. The agreement was signed by Khalifa bin Salem Al Mansouri, Under-Secretary ...