Bloomberg China’s latest moves to tighten its grip on the nation’s internet giants helped trigger a fifth consecutive day of selling in the nation’s bellwether technology stocks. The Hang Seng Tech Index dropped 3.1%, after the market regulator issued draft rules banning unfair competition among the nation’s online platform operators. Alibaba Group Holding Ltd falls nearly 5% and was the ...

Bloomberg Global stocks dropped for a second day and US equity-index futures tumbled amid concern more economic shutdowns are becoming necessary to contain a fast spreading pandemic. A stronger dollar and a slide in Treasury yields underscored the risk-off mood on Tuesday as New Zealand discovered a positive case and announced a lockdown. Gold rises for a fifth day and ...

ABU DHABI / WAM Abu Dhabi’s Hope Consortium, which offers one of the most capable and effective vaccine supply chains in the world, has extended its value proposition to include in-country vaccination services with the aim of accelerating global immunisation and eliminating vaccine wastage. The new solution is unique in the Covid-19 immunisation space as it combines end-to-end vaccine delivery ...

Bloomberg Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd’s oil refining and chemicals business, people with knowledge of the matter said. The Saudi Arabian firm is discussing the purchase of a roughly 20% stake in the Reliance unit for about $20 billion to $25 billion-worth of Aramco shares, the people ...

ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Sadyr Japarov, President of Kyrgyzstan, discussed during a telephone call on Monday, ways of strengthening relations of friendship and cooperation for the benefit of the two countries and their people as well as mutual ...

ABU DHABI / WAM Waha Capital, an investment management company in Abu Dhabi, has announced the completion of the refinancing of its revolving credit facility with the support of four local and regional banks. The 3-year $500 million revolving credit facility replaces and upsizes the current facility of $400 million. The syndication of the facility was positively received with the ...

ABU DHABI / WAM Abdullah Mohammed Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry, and Dr. Mudaffar Mustafa Al Jubouri, Ambassador of Iraq to the UAE, have discussed ways to boost economic relations between the UAE and Iraq. During a recent visit to Abu Dhabi Chamber, the Iraqi Ambassador expressed his country’s interest in boosting economic cooperation ...

Abu Dhabi / WAM Khalifa Fund for Enterprise Development developed and published an ‘Impact Report’, which measures the effectiveness of their funding programmes between 2007-2019, and how their various forms of funding have helped develop SMEs and shape the future of the UAE’s entrepreneurial ecosystem. The 54-page report assessed how the UAE’s economy and GDP were impacted, how the SME ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) received 24 local, regional, and international awards in the first half of 2021 following the work approach of the Government of Dubai. Dewa’s Jebel Ali Power Generation and Water Production Complex has been confirmed by Guinness World Records as the largest single-site natural gas power generation facility in the world. ...

Dubai / WAM The Dubai Airshow 2021, set to take place from November 14-18 at Dubai World Central, serves as a key indicator of Dubai’s success in overcoming the challenges that the pandemic has posed, and moving in the right direction towards achieving a full recovery of the aviation industry. Commenting on the progress that Dubai’s aviation sector has made ...