Bloomberg IndusInd Bank Ltd, backed by the billionaire Hinduja brothers, denied allegations that its unit was providing new loans to customers to keep their existing debt from souring, a practice known as “evergreening.” The bad loan recognition process is fully automated in accordance with the regulatory norms, the bank said in an exchange filing. It was responding to a media ...

Bloomberg Argentina’s peso rises in the spot market for first time in 12 months after central bank ordered financial institutions to maintain their foreign currency holdings steady through to the end of the month, forcing some to sell dollars. The peso strengthened 0.02% to 99.94 to the dollar, even as central bank bought $210 million, the most greenbacks it has ...

Bloomberg Canada’s six biggest banks could raise their dividends by about 18% on average and still be able to buy back almost 2% of their shares now that regulators are allowing them to unleash capital they’d stockpiled during the pandemic. National Bank of Canada and Bank of Montreal would have the largest percentage increases in their dividends, assuming they return ...

Bloomberg Warren Buffett has spent more money buying back Berkshire Hathaway Inc.’s stock in recent years than he did amassing his biggest equity bet on Apple Inc. Berkshire spent nearly $20 billion more repurchasing its own stock since the middle of 2018 than it deployed accumulating its Apple stake through the end of last year. In total, Buffett poured about ...

Bloomberg After this year’s record-setting rally in equities, the list of things that could go wrong in 2022 is getting longer. From slower earnings and economic growth to surging inflation that could prompt central banks to tighten policies too quickly, stock investors face plenty of risks. That’s making some of Wall Street’s top brokers more cautious. Bank of America Corp ...

Dubai / WAM HH Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, President of Dubai Women Establishment, and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs, congratulated the wise leadership and HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union ...

Dubai / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum, has issued a decision to merge Dubai Economy and Dubai Tourism into one entity under the name ‘Dubai’s Department of Economy and Tourism’. His Highness also issued a decision appointing Helal Al Marri as ...

ABU DHABI / WAM The Mohamed bin Zayed Award for Best Teacher announced launch of its Fourth Cycle, during a press conference held at the Expo 2020 Dubai, which included members of the award, to highlight latest developments. The award’s new cycle will be open for foreign and non-Arabic speaking teachers in private schools and the international community who can ...

Dubai / WAM Colombia, the third largest economy in Latin America, aims at reaching more than AED 3.67 billion ($1 billion) in bilateral trade with the UAE by 2030, President Ivan Duque told the Emirates News Agency (WAM). In an exclusive interview in Dubai, the president of Colombia said he hopes to triple the trade figures with the UAE within ...

LISBON / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, affirmed that the UAE government adopts the establishment of an incubator environment for advanced technology, which attracts minds and talents, empowers them and builds their skills and experiences, to create solutions and work mechanisms supported by artificial intelligence (AI). Al Olama ...