South Korean assets rallied on Monday after the government pledged at least 50 trillion won ($34.8 billion) to prop up credit markets, easing concerns about rising default risks in the key sectors including real estate. The Kospi index advanced as much as 2%, with shares of brokerages and builders such as Kiwoom Securities Co., Meritz Securities Co. and Dongbu Corp. ...

Abu Dhabi / WAM  The first day of Culture Summit Abu Dhabi kicked off in the UAE capital with an exciting programme of keynote speeches, discussions, sessions and cultural performances. In a session that discusses the impact of the pandemic on culture, Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said, “If an issue happens in Brazil or ...

Saudi Arabia has earmarked 10 billion riyals ($2.7 billion) to provide incentives for global supply firms to invest in the kingdom, part of plans to develop its economy as a hub for industrial companies. Crown Prince Mohammed bin Salman bin Abdul Aziz announced the plans as part of Saudi Arabia’s Global Supply Chain Resilience Initiative on Sunday, that aims to ...

NOUAKCHOTT / WAM The Emirates Red Crescent (ERC) has launched several development projects in Aghlik bin Bayyah Village, as part of its continuous efforts to support vital services in Mauritania. The projects included the rehabilitation of a medical centre in the village and the Holy Quran Memorisation Institute. An artesian well was dug and provided with a solar-powered tank and ...

Abu Dhabi / WAM     Egypt’s Foreign Minister Sameh Shoukry has articulated the central importance of the ‘COP27’ his country will host next month in the winter resort of Sharm El Sheikh, calling for pulling the 27th Conference of the Parties of the UNFCCC out of the ongoing context of “strong political and economic polarisation and the dynamics of politicisation and ...

Abu Dhabi / Gulf Time The Future Forum for Arab Investments (FF2020AI) announced the awarding of the Emirati businessman and founder of the Arabian Gulf Investments Group in Abu Dhabi, Khalifa Saif Al Muhairbi, the title of the Arab Real Estate Developer in the Middle East and North Africa for the second year in a row, in recognition of his ...

Dubai Integrated Economic Zones Authority (DIEZ), announced on Sunday a collaboration with DP World to support the Tumoohi Initiative. This falls in line with its ongoing commitment to empowering young Emirati competencies and preparing the next generation of leaders in the logistics and trade sectors. Tumoohi is a recognised training programme initiative by DP World, designed to boost the careers ...

Sharjah / WAM His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah and Founder of University of Sharjah (UoS), attended, in the presence of Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah and President of the UoS, the University’s celebrations of its silver jubilee in front of the main campus. His ...

Australia joined the Global Methane Pledge, becoming one of the last major developed economies to sign on to an effort to reduce emissions of the potent greenhouse gas 30% from 2020 levels by the end of this decade. Announcing the decision to sign the methane pledge on Sunday, Climate and Energy Minister Chris Bowen said meeting the 2030 target could ...

Liam Denning In between dabbling in geopolitics and buying-rejecting-not-really-buying Twitter, Elon Musk runs a car company. Tesla Inc. reported results that were somehow simultaneously great and yet humdrum. Revenue jumped 56% versus a year ago, but missed expectations by 3%; the stock fell slightly after hours on Wednesday. Such is the flip-side of high expectations. Musk appeared on the call ...