Bloomberg Twenty-time Grand Slam tennis champion Roger Federer has bought a stake in Swiss running shoe manufacturer On, a move prompted by the end of his contract with Nike Inc and as he plans for life after professional tennis, Swiss newspaper NZZ am Sonntag reported. “I am excited to be able to work with a young Swiss company that’s on ...

Washington / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation concluded his visit to Washington, DC after meeting with senior US government officials. Sheikh Abdullah met US Secretary of State Mike Pompeo. They discussed UAE-US cooperation to create mutual prosperity and ensure security in the Middle East and around the world. “The ...

Dubai / WAM Domestic workers aged over 60 years shall be allowed to get their employment contracts renewed under three conditions, including medical fitness, payment of medical coverage and an official consent by competent departments allowing them to continue their residency visa, according to the UAE Ministry of Human Resources and Emiratisation. According to the ministry’s announcement, the auxiliary worker ...

STOCKHOLM / WAM An agreement signed by the UAE and Sweden for startups, innovation and entrepreneurship cooperation will take the two countries’ partnerships to a higher level, Sultan bin Saeed Al Mansouri, Minister of Economy. The MoU was signed by the Ministry of Economy and Swedish Ministry of Enterprise and Innovation during a visit by Al Mansouri and a top-level ...

Bloomberg The European Union (EU) is planning a 3.9 billion fund that will invest in early stage technology in an effort to increase the pipeline of innovations that might someday take on giants in the US and China. Traditional venture capital firms typically don’t fund “the famous innovation valley of death,” where science has produced a breakthrough, but a costly ...

Bloomberg Deutsche Bank accused a pair of offshore funds of failing to follow through on a deal to sell the German lender $1.6 billion in claims against Bernard Madoff’s bankrupt investment advisory business. Kingate Global Fund Ltd and Kingate Euro Fund Ltd, which funnelled client money to Madoff’s firm for years before his Ponzi scheme collapsed in 2008, have “sellers’ ...

Bloomberg Mexico’s central bank called for the preservation of its independence amid economist concerns that President Andres Manuel Lopez Obrador may encroach on its independence, as he has with other autonomous institutions. One by one, the four heads of Banco de Mexico over the past three-and-a-half decades took the podium to praise the benefits of autonomy and the importance of ...

Bloomberg China still has room for conventional monetary expansion, but its ability to deal successfully with a crisis depends on whether monetary policy can work together with fiscal and structural reform policies, China’s former central bank head Zhou Xiaochuan said. “We can still try to avoid getting very soon into the negative interest rates area, if we can successfully manage ...

Bloomberg Goldman Sachs Group Inc Chief Executive Officer David Solomon forcefully denied customer allegations of gender bias in setting credit limits for the Apple Card, pledging to address a social media and political uproar with more transparency when making decisions. “There’s no gender bias in our process for extending credit,” Solomon told Bloomberg TV in an interview from the New ...

Bloomberg The Bank of Thailand is prepared to use monetary policy if economic growth disappoints, its governor Veerathai Santiprabhob said. “In the short term, we are ready to use monetary policy if needed,” Veerathai said during a visit to Laos. “We are ready to act if growth fails to meet our expectations.” At the same time, he cautioned against taking ...