Bloomberg Da Afghanistan Bank, the country’s central bank, is selling $10 million dollars to support the currency which has been tumbling to record lows, the first such auction under the new Taliban regime. The central bank, in a statement, said qualified banks and currency exchangers can participate in the bidding, without providing any details on when the results of the ...

Bloomberg A Black loan underwriter who said he was fired due to racism alleges that US Bancorp engaged in redlining — discriminating against people of colour when lending. John Span also claims in a lawsuit that he endured a “toxic and racially hostile work environment” during his time in the firm’s indirect auto-lending group. In the complaint, filed in Illinois ...

Bloomberg Asian stocks were steady Tuesday and the yuan climbed as traders weighed the outcome of the first face-to-face virtual summit between US President Joe Biden and Chinese leader Xi Jinping. Treasury yields dipped. MSCI Inc’s Asia-Pacific share gauge posted a modest advance, while US and European equity futures fluctuated after the S&P 500 and Nasdaq 100 ended flat. Hong ...

Bloomberg Singapore’s state-owned investor Temasek Holdings Pte sold shares of US-listed Chinese technology companies from Alibaba Group Holding Ltd and Didi Global Inc to online education providers amid regulatory crackdowns. Temasek cut 16% of its stake in e-commerce giant Alibaba and 11% of its shares in ride-hailing service Didi, according to a 13F filing for the three months ended September ...

DUBAI / WAM The Mohammed Bin Rashid Initiative for Global Prosperity Monday announced that it will host the Global Prosperity Conference to explore the role of start-ups, disruptive business models, and digital innovations to support the advancement of the United Nations Sustainable Development Goals (SDGs) and drive global good. Reinforcing the importance of technology as a key tool for positive ...

Dubai / WAM On the second day of Dubai Airshow 2021, the Ministry of Defence announced the conclusion of 5 deals at the value of AED11,284,837,000.00 with local and international companies. The total number of deals in these two days have been 10 contracts with a total value of AED16,524,044,000.00. The deals of the first day amounted to AED5,239,207,000. This ...

ABU DHABI / WAM This year’s Adipec — the global energy industry’s largest, most important and influential event — opened on Monday and will run until November 18 to offer face-to-face meetings for the energy industry following the challenges of Covid-19. The event is held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and hosted ...

DUBAI / WAM Tawazun Economic Council (Tawazun) and Bahrain Defence Force (BDF) have signed a Memorandum of Understanding (MoU) to boost cooperation in defence industries and to exchange information and expertise on industrial participation and offset programmes. Present at the signing ceremony were Kamal bin Ahmed Mohammed, Bahraini Minister of Transport and Telecommunications; Matar Salem Al Dhaheri, Under-Secretary of the ...

DUBAI / WAM Emirates Development Bank (EDB) has announced the signing of a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing and banking solutions to SMEs and corporates aimed at supporting the growth of UAE’s industrial sectors and exports. Signed by Ahmed Mohamed Al Naqbi, CEO of EDB, and Saed Al Awadi, CEO of Dubai ...

DUBAI / WAM Edge, the region’s leading advanced technology group for defense and beyond, on Monday announced the signing of a Memorandum of Understanding (MoU) between EARTH, an entity within Edge Group, and Lockheed Martin, that has the potential to modernise aviation capabilities for UAE Apache pilots. Omar Al Zaabi, Senior Vice President, Head of Programme Acquisition at Edge, and ...