DUBAI / WAM The number of Emirati families registered in “Al Sanaa” project affiliated with the Ministry of Community Development increased to 2,805 families of which 476 members are eligible for social security in the ministry. Around 43 new families were registered during the first half of 2021; whereas the total income earned to these families from the launch of ...

There have been many dark moments in the two decades since 9/11, some of them in Kabul last month. I remain especially haunted by a snapshot from 2007 Iraq. British political adviser Emma Sky was riding a Blackhawk with US commander Gen Raymond Odierno. She mentioned to her boss over the intercom a glimpsed graffiti on a building wall in ...

A smartphone widely believed to be priced below $50, likely the world’s cheapest, will start selling a week from now. If Mukesh Ambani’s JioPhone Next, an Android device custom-built for India by Alphabet Inc’s Google, is a hit in the price-conscious market, it will solve one problem for banks while posing another. With the country’s remaining 300 million feature-phone users ...

The advent of gaming, especially computer gaming, marks a fundamental break in human affairs. Gaming is profoundly transforming two central aspects of the modern world: culture and regulation. There will be no turning back. When it comes to culture, the West has been in a dialogue with itself for centuries, indeed millennia, stretching at least as far back as the ...

Billionaire Jack Ma seems unable to move beyond his controversial past. He paid dearly for his open critique of Chinese state-owned banks last October, when weeks later a furious President Xi Jinping personally decided to pull Ant Group Co’s $34 billion initial public offering. In April, his e-commerce giant Alibaba Group Holding Ltd was slapped with a record $2.8 billion ...

Bloomberg HSBC Holdings Plc isn’t about to throw away its pandemic-era ways of working. The bank, which is in the midst of a historic pivot and cost cutting program, predicts it will be operating in a profoundly different way after the virus outbreak ebbs, with as many as 70% of its staff backing a hybrid working model and with its ...

Bloomberg Goldman Sachs Group Inc is hiring bankers from rival firms Citigroup Inc and HSBC Holdings Plc as the US lender seeks to expand its business in the Middle East amid a surge in deals from the region. Jassim AlSane, a senior Citigroup banker, will join Goldman Sachs’ Dubai office in November as managing director and the co-head of investment ...

Bloomberg Indonesia’s central bank will require lenders to disburse at least 30% of their loans to small companies, part of a broader effort to revive slow credit growth that’s stalled the economic recovery. Banks must allocate at least 20% of their total loans to micro, small and medium enterprises next year, with the proportion gradually increasing to 25% in 2023 ...

Bloomberg Germany’s public-sector savings banks have initiated the sale of their commercial real estate lender Berlin Hyp AG in what would be the biggest banking deal in Europe’s biggest economy this year. The savings banks association DSGV has mandated Pricewaterhouse Coopers to collect bids which may be valued at least $590 million. Binding offers are due in October. Landesbanks including ...

Bloomberg Canadian Imperial Bank of Commerce (CIBC) is taking over Capital One Financial Corp’s Costco Wholesale Corp credit card business in Canada, helping diversify its portfolio away from travel rewards. CIBC will buy Capital One’s existing portfolio of Costco-branded Mastercards, which has more than $2.4 billion in outstanding balances, and become the exclusive issuer. The change is expected to begin ...