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Abu Dhabi / WAM Saif Saeed Ghobash, Under-Secretary of the Department of Culture and Tourism in Abu Dhabi, expects the tourism sector in Abu Dhabi to witness the economic effects of the city’s stature as a major international tourism destination by the end of the year with a record numbers of tourists this year. In an interview with Etihad, Ghobash ...

Bloomberg With China’s economy slowing, banks under pressure to help invigorate growth are rushing to make room on their balance sheets for new lending. That’s unleashed a boom in a corner of the nation’s credit markets. Structured debt sales in China’s interbank bond market jumped in the last quarter to a record 300 billion yuan ($44 billion). Residential mortgage backed ...

Bloomberg Just more than a year ago, I ate at Nahm, in Bangkok—and walked out after paying barely $60 for a tasting menu that currently ranks 49th on the World’s 50 Best Restaurants list. My grand, five-star hotel, the Anantara Siam, with its gilded murals and landscaped courtyards, cost $150 a night, including a breakfast buffet that was truly fit ...

Bloomberg Canada is applying quotas and a 25 percent tariff on steel imports from China and other countries to avoid becoming a dumping ground for steel in the face of metal levies imposed by US President Donald Trump. Canada will erect new barriers to any flood of shipments of seven types of foreign steel, and will issue refunds and exemptions ...

Bloomberg Walt Disney Co is looking at ways to accommodate a group of 21st Century Fox Inc bondholders that say they are being wronged by a bond exchange deal as the two companies prepare to combine, according to a person familiar with the matter. Disney has offered to pay holders of $18.1 billion of Fox debt a small fee in ...

Bloomberg As if trade wars, rising interest rates and slowing global growth weren’t enough, the world’s finance chiefs are zeroing in on another source of concern: Italy. The populist government’s rule-busting budget plans and accusatory rhetoric against its European partners have repeatedly cropped up among ministers and central bankers at the annual meetings of the International Monetary Fund and the ...

Dubai / Emirates Business In the latest report issued by Dubai Land Department (DLD), Dubai’s real estate market witnessed a continuous growth driven by optimism among investors and developers, where the market recorded 39,802 real estate transactions worth AED 162 billion from the beginning of the year till the end of September. Commenting on these promising figures, HE Sultan Butti ...

FUJAIRAH / WAM The UAE Armed Forces have continued preparations for the Military Show ‘Union Fortress 4’, which is scheduled to be held on February 2 at the Fujairah Corniche. The Union Fortress 4 will be implemented by main units of ground and air forces, in addition to the Presidential Guard. The aim of this show is to demonstrate the ...

Bloomberg Anwar Ibrahim has emerged as the winner in a district by-election, clearing the way for the formerly jailed leader to become the nation’s eighth prime minister. Anwar, 71, leader of the largest party in the ruling coalition, is set to be inaugurated on Monday after winning 71 percent of votes against six other candidates for a parliament seat, the ...

Dubai / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued Federal Decretal Law No. (9) of 2018 on public debt, to enable the federal government to issue sovereign bonds, and help the banking sector meet international liquidity rules as soon as they are issued. In addition, the law will enable banks operating in the state to purchase ...