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DUBAI / Emirates Business Emirates NBD, a leading bank in the region, announced the signing of an agreement to offer clearing services to UAE-based Delma Brokerage, making the brokerage firm, the first non- affiliate Trading Member to sign with the bank. Emirates NBD is currently the first UAE-based financial entity to be approved by ‘SCA – Securities and Commodities Authority ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) appointed the Korea Development Institute (KDI), a Korean think tank, as expert consultant to advise on the need for a UAE-based Export Finance Programme. Mohammed Saif Al Suwaidi, Director-General of ADFD, and Dr Joon-Kyung Kim, President of KDI, signed a cooperation agreement in this regard at Fund’s headquarters. As an ...

DUBAI / WAM Halal Expo Dubai will strengthen UAE’s goal of leading and developing the Halal industry in the Arab region and beyond. The county has immense potential and resources to be the hub of Islamic economy and for attracting foreign investments to UAE as the country ranked third after Malaysia and Bahrain in Islamic economy and finance, stated by ...

Bloomberg Jared Kushner confirmed four contacts with Russians during his father-in-law’s presidential campaign or after the election, he said, but he described the encounters as unmemorable and denied colluding with the Russian government to help Donald Trump win. In the most consequential meeting, Kushner said he agreed to meet with a Russian banker, Sergey Gorkov, on Dec. 13 at the ...

Bloomberg India’s top court is considering whether privacy is a fundamental right of every citizen in a case that could have implications for the country’s biometric identity programme and a slew of global technology companies. Activists, lawyers and politicians have challenged the government over the legal basis of the programme known as Aadhaar, with the Supreme Court in New Delhi ...

Bloomberg Tokyo’s commuters offered mixed reviews on Monday as the government launched a campaign to get more of them to work from home. July 24 marks the first dry run of a “Telework Day” encouraging people to work remotely as the city gears up to host the 2020 Summer Olympics. Authorities are seeking ways to make room for 920,000 spectators ...

Bloomberg The world is leaning less on its biggest economy to sustain the global recovery, according to the International Monetary Fund. The fund left its forecast for global growth unchanged in the latest quarterly update to its World Economic Outlook, released on Monday in Kuala Lumpur. The world economy will expand 3.5 percent this year, up from 3.2 percent in ...

Bloomberg BMW AG sought to defuse concerns about possible collusion with other German automakers by rejecting allegations of cheating on diesel emissions and downplaying talks with rivals as being focused on promoting exhaust-treatment technology in Europe. With uncertainty clouding the German auto industry, BMW said it has gone farther than competitors to ensure its diesel cars meet regulatory guidelines while ...

Bloomberg Growth in the euro-region economy started the third quarter at the weakest pace in six months as manufacturing cooled. A composite Purchasing Managers’ Index fell to 55.8 in July from 56.3 in June, IHS Markit said on Monday. The figures indicate that gross domestic product is expanding at a 0.6 percent quarterly pace, compared with 0.7 percent in the ...

Abu Dhabi / Emirates Business Abu Dhabi-based Baron Point Petroleum Services Company L.L.C. (“Baron Point Petroleum”) has joined hands and engaged a joint-venture (“JV”) with PetroVietnam Oil Corporation (“PV Oil”), the national oil and gas company of Vietnam, to finance, build and operate petroleum product pipelines and storage space in Vietnam, and to source and trade petroleum products in the ...