Dubai / WAM The CEOs Advisory Council of the UAE Banks Federation (UBF), held its first meeting of the year to discuss the changing dynamics of the UAE’s banking sector and explore ways to facilitate the industry’s rapid digital transformation. The meeting, chaired by AbdulAziz Al Ghurair, UBF Chairman, focused on a number of topics, including cyberattacks and how to ...

Dubai / WAM To enhance the cooperation strategy with different government organisations in the region, the Mohammed bin Rashid Space Centre (MBRSC), signed a cooperation, information and data-sharing agreement with Bahrain’s National Space Science Agency (NSSA), for the application of satellite images and space research sciences. The MoU was signed between Hamad Obaid AlMansoori, Chairman of MBRSC, and Kamal bin ...

BUCHAREST / WAM DP World Constanta, a subsidiary of the Dubai-headquartered global trade enabler DP World, renewed its concession agreement allowing it to operate in the Romanian Black Sea port of Constanta for another 30 years, until 2049. DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem signed the agreement with the Romanian Transport Minister Razvan Cuc in the ...

Sharjah / WAM HH Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, inaugurated the 6th edition of the Real Estate Investment Exhibition (ACRES 2019) on on Tuesday. The exhibition is organised by Sharjah Chamber of Commerce and Industry (SCCI), the Sharjah Real Estate Registration Department and the Real Estate Sector Business Group at Expo Centre Sharjah. After ...

Dubai / WAM Dubai’s Department of Tourism and Commerce Marketing, Dubai Tourism, reinforced its commitment to the German market during the 2019 edition of ITB Berlin, the world-renowned travel trade show. Bringing together Dubai’s network of industry stakeholders across the public and private sector, the international show provided a platform to share key market insights, further cementing the emirate’s relationships ...

Bloomberg Theresa May looked set to seek a long extension to the UK’s European Union membership after the House of Commons speaker torpedoed her plan to win Parliamentary approval for her deal to leave the bloc. Officials privately accused Speaker John Bercow of over-reaching his powers to help pro-EU politicians deliver a softer divorce and said another vote on May’s ...

Bloomberg India’s Ola is raising $300 million from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies just as the US rival prepares for an IPO. The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named. The Bangalore-based company will continue ...

Bloomberg Hong Kong’s government plans to spend $80 billion, equivalent to half its fiscal reserves, to reclaim land for artificial islands that’ll help ease its housing crunch. The price tag for the so-called Lantau Tomorrow Vision includes costs for reclamation, infrastructure and improving transportation, Michael Wong, secretary for development, said at a briefing on Tuesday. More than a third, or ...

Bloomberg US equities climbed as investors awaited this week’s central bank decisions, including word from a recently more-dovish Federal Reserve. The euro strengthened while Treasuries slipped. The S&P 500 Index continued rising on Tuesday after climbing to a five-month high the day before. Consumer-discretionary, materials and semiconductor stocks led the charge. The Dow Jones and Nasdaq 100 gauges followed suit, ...

Bloomberg The rally in Chinese stocks has been bad news for the Hong Kong dollar. Equity investors are selling the currency for the Chinese yuan and buying mainland shares through the stock trading connects, according to Ronald Man, a strategist at Bank of America Merrill Lynch. That’s keeping the Hong Kong dollar lower in the spot market, he said. The ...