Abu Dhabi / WAM Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, chaired 111th meeting of the GCC Financial and Economic Cooperation Committee, which took place virtually to discuss recommendations and findings from the 57th meeting of the GCC Under-Secretaries of Ministries of Finance Committee, and ways to take the necessary steps. Younis Haji Al Khoori, Under-Secretary ...

Bloomberg An investment firm backed by a member of Abu Dhabi’s royal family agreed to buy a stake worth just over $1 billion in LuLu Group International, which runs one of the Middle East’s largest hypermarket chains, according to people familiar with the matter. The company led by His Highness Sheikh Tahnoon bin Zayed Al Nahyan acquired an almost 20% ...

Bloomberg The United Nations is calling for the creation of a global authority to help implement the temporary suspension of debt obligations from developing countries during the coronavirus pandemic. The proposal will enable private creditors to join the debt payments pause and allow countries use resources to fight the new illness, said Stephanie Blankenburg, head of debt and development finance ...