Bloomberg Short-sellers have driven big losses in the favourite stocks of South Korean retail investors this month, piggybacking on a campaign by local regulators to rein in the power of Kakao Corp and other internet giants. Kakao, the operator of Korea’s most-used messenger app, is the most-shorted stock in September as lawmakers voiced concerns over its market dominance — a ...

Bloomberg China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules aren’t aimed at stifling technology companies or private sector. China Securities Regulatory Commission Vice Chairman Fang Xinghai said recent actions were to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security. ...

Bloomberg Oil declined amid Russia’s plans to boost upcoming overseas oil sales and as the dollar rallied. Futures in New York ended the session nearly 1% lower. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency. “There’s been demand destruction ...

Dubai / WAM A report by the Business Registration and Licensing sector of Dubai Economy revealed that 5,885 new licenses were issued during August 2021, a growth of 54% compared to the same period in 2020, when 3,829 licenses were issued. The figures reflect the ease of doing business in emirate, and measures taken to ensure business continuity and further ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a cable of condolences to President Abdelmadjid Tebboune of Algeria, on the death of the country’s former President Abdelaziz Bouteflika. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Mohamed bin Zayed ...

ABU DHABI / WAM Majid Al Futtaim the leading shopping malls, communities, retail and leisure pioneer across the Middle East, Africa and Asia has announced the expansion of its people development programme that is set to create thousands of career opportunities for Emirati talent across multiple industries in the UAE and beyond in response the UAE government’s federal Nafis programme. ...

Bloomberg China applied to join an Asia-Pacific trade pact once pushed by the US as a way to isolate Beijing and solidify American dominance in the region. The country submitted a formal application letter to join the deal, known officially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, according to a statement in Beijing. The treaty was originally envisioned ...

ABU DHABI / WAM The Abu Dhabi Emergency, Crisis and Disasters Committee for the Covid-19 pandemic has approved the cancellation of Covid-19 testing entry requirements, effective Sunday, September 19, as part of the updated procedures to enter Abu Dhabi from within the UAE, announced on Saturday. The decision follows the announcement of a decreased Covid-19 infection rate in the emirate ...

ABU DHABI / WAM The seventh World Green Economy Summit (WGES), being held on October 6-7 at Expo 2020 Dubai, is set to tackle some of the critical sustainable development pillars, one of which is global food security and its role in green growth. The Dubai Electricity and Water Authority (Dewa) and the World Green Economy Organisation (WGEO) are organising ...

Moscow / WAM The Sharjah Book Authority (SBA) has explored ways to advance cultural partnerships between Sharjah and Russian cities during its participation in Moscow’s 37th International Board on Books for Young People Congress (IBBY World Congress). The authority also organised two creative sessions on the occasion, bringing together an elite group of Emirati and Russian authors and artists to ...