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Bloomberg Trust firms that have issued at least $5 billion in high-yield products linked to China Evergrande Group are bracing for a cascade of losses after the cash-strapped developer said it may no longer be able to meet its financial obligations. At least three firms, including Citic Trust Co, China Foreign Economy and Trade Trust Co and National Trust, notified ...

Bloomberg Myanmar’s military regime reduced Aung San Suu Kyi’s jail term to two years after a special court found her guilty in her first trial since her ouster in a February coup and sentenced her to four years in prison, according to a statement on the state broadcaster MRTV. Suu Kyi will serve her sentence at her current location thus ...

Dubai / WAM In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE government announced the launch of the UAE Railways ...

Dubai / WAM DP World’s flagship Jebel Ali hub including Jebel Ali Port and Jebel Ali Free Zone (Jafza) will highlight the growth prospects in the sector and their competitive offerings with their participation in the 15th edition of Gulf Petrochemicals and Chemicals Association (GPCA) Annual Forum from December 7-9. The forum serves as a vital platform for the chemical ...

ERBIL / WAM Ahmed Al Dhaheri, UAE Consul-General to the Kurdistan Region of Iraq, and Kwestan Mohamad Abdulla Maarouf, Minister of Labour and Social Affairs of Kurdistan, discussed several issues of common interest and coordination regarding social projects implemented by the UAE in Kurdistan. Maarouf extended her appreciation to the UAE, its leadership, its charitable institutions (Emirates Red Crescent and ...

Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic), one of the leading regional multi-line insurance providers for corporates and individuals, has extended its partnership with Al Bayt Mitwahid Association for a year. A non-profit organisation dedicated to celebrating unity and promoting a culture of giving, Al Bayt Mitwahid provides an open platform for UAE communities to take part ...

Bloomberg One of the few funds to predict Beijing’s clampdown on education companies is doubling down on its bets on China’s solar companies. Ken Xu, Hong Kong-based chief investment officer at Strategic Vision Investment Ltd, withdrew from tutoring stocks in March after noting that state-backed media outlets and policy makers were echoing angst among parents about the societal impact of ...

Bloomberg President Vladimir Putin is expected to visit New Delhi on Monday as billions of dollars of Russian weaponry flow into India that would normally attract US sanctions. Eager to draw India into its efforts to contain China, the US may look away this time. Putin is making his first foreign trip in nearly six months for talks with Prime ...

Bloomberg President Joe Biden said Americans are returning to work and the US economy continues a strong rebound from the pandemic, after a Labour Department report offered a mixed view on the job market. “Simply put, America, America is back to work,” Biden said in remarks at the White House. “Because of the extraordinary strides we’ve made, we can look ...

Bloomberg The European Union (EU) will give preliminary approval to the reforms submitted by Spain to unlock $11.3 billion of its recovery funds. The European Commission will validate first set of milestones fulfilled by the Spanish government as part of its cash-for-reforms package to counter economic fallout of Covid-19, according to EU officials. Spain is one of the largest beneficiaries ...