ABU DHABI / WAM Aldar Properties and Mubadala Investment Company on Monday broke ground at One Maryah Place, a two-tower Grade A commercial development on Al Maryah Island, Abu Dhabi’s leading business and lifestyle destination. Located within Abu Dhabi Global Market (ADGM), the project is set to add further high-quality commercial space to the ADGM freezone as demand continues to …

BEIJING / WAM China’s central bank conducted 19.5 billion yuan (about $2.76 billion) of seven-day reverse repos at an interest rate of 1.5 percent on Monday. Xinhua news agency quoted the People’s Bank of China as saying that the move aims to keep liquidity in the banking system reasonable and ample, the central bank said.A reverse repo is a process …

ABU DHABI / WAM The Ministry of Finance (MoF) has announced the cancellation of economic substance reporting requirements for companies for financial years ending after December 31 2022, following Cabinet Decision No (98) of 2024, which amends certain provisions of Cabinet Decision No (57) of 2020 on economic substance requirements. This amendment aligns with the implementation of the UAE’s federal …