DUBAI / WAM National Bonds Company, a Sharia-compliant saving and investment company, has announced its acquisition of an additional 5% stake in the “Taaleem” Holding Group. This move solidifies National Bonds’ position as the largest shareholder in “Taaleem” with a 22% stake. The acquisition represents the largest of its kind since “Taaleem” listed and traded its shares on the Dubai …

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem. It is designed to offer traders a host of benefits, including business set-up solutions, simplified access to global supply chains, networking and collaboration opportunities, and assistance with crucial aspects of business …

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, emphasised the commitment of the UAE government, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to prioritise community health. The government’s approach involves harnessing advanced digital …

ABU DHABI / WAM The German embassy in the UAE hosted its second edition of the Climate Talks titled “Road to COP28: Energy Transition in Germany and the UAE − Opportunities for Cooperation” at Khalifa University in the capital. Germany’s foreign missions are organising Climate Talks in different regions, bringing together stakeholders and important voices across different sectors, to raise …

BLOOMBERG  UBS Group AG expects to complete its acquisition of Credit Suisse Group AG as early as June 12, creating a new powerhouse in European banking and ending weeks of uncertainty for the lenders’ more than 100,000 employees. The closing of the deal is still subject to certain conditions, including some that UBS said it could waive, according to a …

BLOOMBERG  JPMorgan Chase & Co has tied up with six Indian banks to introduce a blockchain-based platform to settle interbank dollar transactions in the nation’s newest international financial hub. “We will be running a pilot project for the next few months as we need to analyse banks’ experience,” Kaustubh Kulkarni, senior country officer, India and vice chairman, Asia Pacific at …

BLOOMBERG  Large US banks may face a 20% average increase in capital requirements from upcoming rule proposals as the collapse of several smaller lenders this year adds urgency to a push to bolster the industry’s financial strength, according to the Wall Street Journal (WSJ). The revised requirements could be proposed as early as June, and the specific increases will depend …

BLOOMBERG  The Reserve Bank of India (RBI) may face growing pressure to defend a key level for the rupee as its interest-rate pause looks set to weigh on the currency. The rupee is poised to test the 83-per dollar mark in the near term if the central bank remains on hold and changes its stance to neutral, effectively signaling an …

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) has partnered with Emirates Nature-WWF and Environment Agency — Abu Dhabi to launch the “Escape Climate Change: Mangrove Edition”, a nature-themed escape room as part of World Environment Day. The launch is part of the COP28 Youth Climate and Nature series, which was inaugurated by a host of senior official …

AL AIN / WAM The Emirates Centre for Mobility Research (ECMR) at the United Arab Emirates University (UAEU) is the first academic research entity in the UAE to become a member of the International Road Federation (IRF). Dr. Hamad Abdullah Al Jassmi, Director of the ECMR, and Prof. Kamil Kaloush, Chairman of the International Road Educational Foundation (IREF) and a …