Bloomberg Strains are spreading in China’s $15 trillion shadow banking industry as investors pull back from the debt-like savings products that helped drive leverage to dangerous levels. Most affected are some $3.8 trillion of so-called trust products, until now the fastest-growing shadow banking segment and a popular way for debt-ridden property developers and local governments to raise funds from millions ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (ADNOC) on Tuesday signed an agreement with Lotte Chemical Titan (LCT), one of the largest polyolefin producers in South East Asia, for the sale of up to one million tonnes per year of naphtha to the Malaysian petrochemicals’ company, over the next three years. The long-term agreement, which builds upon ...

Abu Dhabi / WAM The Ministry of Finance has welcomed the European Union’s decision to remove the UAE from its list of uncooperative tax havens, in recognition of the transparent procedures the State has been adhering to, and will continue to do so, locally and internationally. Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, said, “The European Union’s ...