DUBAI / WAM Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (Measa) region, on Tuesday announced it is the first financial centre in the region to enter into an agreement with the Alternative Investment Management Association (Aima), the alternative investment industry’s pre-eminent voice globally, representing over 2,100 corporate members with ...

SEOUL / WAM Abdullah bin Touq Al Marri, Minister of Economy, led the UAE delegation on a visit to Samsung’s headquarters in the Republic of Korea to learn about the company’s future expansion and investment plans and strengthen its partnership with the UAE market. The minister was received by Oh-Hyun Kwon, CEO and Vice President of Samsung Electronics. The UAE ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) held a press conference to reveal the details of the 7th edition of the Al Dhaid Date Festival. The conference, held at the Al Dhaid Expo Centre, was attended by strategic partners from government departments and institutions. During the conference, Mohamed Ahmed Amin Al Awadi, Director-General, SCCI, emphasised that ...

BLOOMBERG Hyundai Motor Co recruited female technicians for automobile manufacturing in South Korea for the first time, following union pressure to improve gender equality. The world’s third-largest automaker hired six women out of 200 new technicians, the first time it allowed females to apply for the position since the company started in 1967, according to a statement from Korea Metal ...

BLOOMBERG France’s Renault SA has formally signed a joint venture agreement with China’s Zhejiang Geely Holding Group Co to set up a new combustion engine and hybrid powertrain company. The move follows a letter of intent signed between the three parties in March as the joint venture seeks to pool resources to work on hybrid technology and synthetic fuels to ...

BLOOMBERG Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron Corp factory in southern Karnataka state, potentially valued at more than $600 ...

BLOOMBERG The buoyant mood sparked by China’s latest economic support measures didn’t last long on Tuesday as European stocks and US futures wavered after policy makers’ warnings of higher-for-longer interest rates. The Stoxx Europe 600 index pared an early gain after Governing Council member Francois Villeroy de Galhau said the European Central Bank is nearly finished hiking, but added that ...

BLOOMBERG China’s monetary and fiscal stimulus measures will only go so far to lift its stock market, with structural reforms necessary for a long-term boost, according to Allianz Global Investors. “It’s a confidence issue,” Raymond Chan, the firm’s equity chief investment officer for the Asia Pacific, said in an interview. Reforms to China’s heavyweight property sector and listed companies overall ...

SAUDI ARABIA / GULF TIME Al Baddad Saudi Holding breaks the Guinness World Recordsâ„¢ title for the Largest Marquee Complex (Cumulative Area) Albaddad Capital, through its arm in the Kingdom of Saudi Arabia, Albaddad Saudi Holding and Albaddad Manasik achieved a new and unique achievement by breaking the Guinness World Recordsâ„¢ title for the Largest Marquee Complex (Cumulative Area), as ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Shavkat Mirziyoyev on his re-election as President of the Republic of Uzbekistan. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed ...