Abu Dhabi / WAM The UAE, represented by the Ministry of Presidential Affairs, announced that it will cover all costs for the renovation project of the permanent headquarters of the Arab Monetary Fund in Abu Dhabi which was established in April 1976. The project will also see the construction of a residence for the Arab Monetary Fund’s Director-General. The announcement ...

SINGAPORE / Reuters Barclays has agreed to sell its wealth and investment management business in Hong Kong and Singapore to Oversea-Chinese Banking Corp (OCBC), as the British lender continues its drive to reduce risk and simplify. OCBC, Singapore’s second-biggest lender, said on Thursday it had agreed to pay $320 million for the units – its second-largest private banking deal since ...

Singapore / Bloomberg The world economy needs something like a modern-day Plaza Accord to safeguard growth against currency market volatility, according to Singapore’s Deputy Prime Minister Tharman Shanmugaratnam. The remarks by the Singaporean official, who is also a former finance minister, come a week before Group of 20 officials gather in Washington to discuss the state of the world economy. ...