Dubai / Emirates Business Dubai Cares, part of Mohammed bin Rashid Al Maktoum Global Initiatives, successfully completed the fourth edition of its Volunteer Emirates 2016 initiative which took place on Saturday at Al Salaf Al Saleh Private School in Ras Al Khaimah. The highly popular initiative, which lends helping hands to non-profit schools across the UAE, saw the participation ...

  Sharjah / Emirates Business Al Majaz Waterfront first ever Winter Festival got under way at the emirate’s popular leisure and tourist destination. The opening two days of the seasonal event, which is running until January 7, have seen an array of activities designed to impart the festive ambience of a wintry landscape without its attendant chilly temperatures. Creating a ...

  Bloomberg The road back down for this year’s best-performing commodity may be bumpy. While spot prices for coking coal have dropped about 16 percent this month from a record high above $300 a ton, possible heavy rain and flooding in Australia over the next few months may stall, or even reverse, the decline. The region is forecast to see ...

  Bloomberg Beijing municipal government ordered more than 1,200 factories in the printing, construction materials and petrochemical industries citywide to either suspend or cut output after earlier issuing this year’s first red alert warning for severely high levels of air pollution. Under a contingency plan for severe air pollution, the city shut down more than 700 plants with production procedures ...

  Bloomberg China must do more to deflate a property bubble that expanded this year by “strictly” controlling speculation while also stepping up the fight to rein in excessive corporate borrowing, a top economic official said a day after leaders announced plans for next year. “We need to give a higher priority to preventing and controlling financial risks,” Yang Weimin, ...

  Bloomberg Wangxiang Group, the owner of Karma Automotive, became the second auto-parts maker to receive permission from the nation’s top economic planner to produce electric cars under a special scheme to encourage companies outside auto manufacturing to develop new-energy vehicles. Founded by Chinese billionaire Lu Guanqiu, Wanxiang Group got approval from the National Development and Reform Commission to invest ...

  Bloomberg Banca Monte dei Paschi di Siena SpA received regulatory approval to extend and expand a debt-for-equity swap in a last-ditch effort to raise 5 billion euros ($5.2 billion) privately and avoid a state rescue. The exchange offer will involve about 4.5 billion euros of Tier 1 and Tier 2 securities and will run until 2 p.m. on December ...

  Bloomberg Prudential Financial Inc. said the relationship with Wells Fargo & Co. that led to a whistle-blower lawsuit and state probes over suspected sales abuses generated a tiny fraction of the life insurer’s revenue. “We do not gauge the importance of this matter in financial terms, but for purposes of this call, it’s probably useful to put some financial ...

  Bloomberg National Australia Bank Ltd., the country’s fourth-largest lender, has written to 60,000 customers to notify them it erroneously sent details about the establishment of their accounts to an incorrect e-mail address. The e-mail included customer information such as names, e-mail addresses and account numbers, though didn’t include any passwords, Peter Coad, NAB executive general manager for international branches, ...

  Moscow / AFP Russia’s central bank held its key interest rate steady at 10 percent, opting to keep inflation in check rather than help jolt the economy out of recession. Inflation risks have subsided and “our medium-term vision has not changed” since the bank last cut the rate in September by half a percentage point, said central bank chief ...