Bloomberg HDFC Bank, the country’s largest private sector bank by assets, said India’s banking sector regulator had lifted restrictions on the launch of new digital business-generating activities. “We are fully committed to ensuring continued adherence to the highest standards of compliance with RBI recommendations,” HDFC Bank said in a statement Saturday, adding the Reserve Bank of India had notified ...

Bloomberg Three of China’s largest smartphone brands have opened discussions with Indian manufacturers about making phones locally for global export, a concrete step towards establishing the country as a hub for electronics production. Xiaomi Corp, Oppo and Vivo are holding talks with Indian contract phone-makers, hoping to take advantage of cash incentives readily available to local firms. If they go ...

Bloomberg Panasonic Corp is gearing up to become a major manufacturer of a new, more powerful battery championed by Tesla Inc. that the Japanese electronics maker says meets the demands of its high-flying customer. Over the past year and a half, Panasonic has been working to develop a bigger “4680” battery it intends to sell to the American electric carmaker. ...

  Bloomberg AT&T Inc, which is returning to its roots as a pure telecom company, showed investors how it plans to balance expanding broadband services while paying for network upgrades and a $8 billion dividend. AT&T Chief Executive Officer John Stankey says the spinoff of WarnerMedia in the coming weeks will mark the “starting line of a new era” for ...

  Bloomberg Ford Motor Co projects a 12% drop in US sales this year as production bottlenecks worsen, Automotive News reported. Executives told dealers they now see US deliveries of 1.66 million vehicles this year, down from 1.9 million in 2021, the publication said, citing two people present at the meeting. The US automaker has already lost 100,000 units of ...

  ABU DHABI / WAM The UAE has participated in the third ministerial meeting of the Coalition for the Sahel, which was held virtually to review the guidelines of a collective action to achieve stability in the Sahel region, and provide a framework for developing a roadmap for the coalition. During the meeting, the UAE affirmed its commitment to joint ...

  DUBAI / WAM DP World Limited announced strong financial results for the year 2021, achieving a revenue growth of 26.3 percent to $10,778 million and adjusted EBITDA growth of 15.3 percent to $3,828 million, with adjusted EBITDA margin of 35.5 percent. The revenue increase from $2,245 million to $10,778 million is supported by acquisitions and new concessions including Angola, ...

  ABU DHABI / WAM The UAE has strongly condemned and denounced the drone attack on the Riyadh oil refinery in the Kingdom of Saudi Arabia. In a statement by the Ministry of Foreign Affairs and International Cooperation (MoFAIC) on Friday, the UAE affirmed this attack is a cowardly terrorist act, and a war crime that requires a response against ...

  DUBAI / WAM The real estate and properties transactions valued at AED13.4 billion in total during the week ending 11 March 2022, according to the Dubai Land Department (DLD). The weekly DLD report said the sum of transactions was 2,333. 245 plots were sold for AED2.09 billion, 1,542 apartments and villas were sold for AED3.29 billion. The top three ...

  DUBAI / WAM Dr Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, discussed, with Imran Ahmad, Minister of Expatriates’ Welfare and Overseas Employment of Bangladesh, ways of boosting the labour relations between the UAE and Bangladesh. During the meeting the two sides highlighted their mutual keenness to advance their bilateral ties in labour areas. The meeting also addressed ...