Bloomberg JPMorgan Chase & Co tapped Hiscox Ltd’s Ben Walter to lead the firm’s business-banking division, succeeding Jennifer Roberts, who was named head of consumer banking earlier this year. Walter, 47, will join the biggest US bank in October as chief executive officer of the unit, which provides services to small businesses with as much as $20 million in annual ...

Bloomberg BNP Paribas SA got a boost from lower provisions for bad loans and a rebound in equities trading last quarter, as Chief Executive Officer Jean-Laurent Bonnafe builds up the trading business. Revenue from the stocks unit more than doubled from a year earlier, helping drive a 27% jump in overall profit that topped analysts’ estimates. Still, the Paris-based lender ...

Bloomberg It’s been a hellish month for China-based companies listed in the US. A clampdown by Beijing authorities led to the worst selloff since the financial crisis, prompting a broad reassessment for a burgeoning corner of the world’s largest stock market. The Nasdaq Golden Dragon China Index — which tracks 98 of China’s biggest firms listed in the US — ...

Bloomberg The Senate’s bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems. The provisions would raise an additional $28 billion from cryptocurrency transactions, according to a summary of the plan. The proposal would impose more rules on crypto brokers to report ...

ABU DHABI / WAM The development and relief aid provided by the UAE to Socotra Governorate since 2015 enabled the Archipelago to overcome its many challenges and dire humanitarian conditions and helped local authorities to improve life and livelihood of Soqotri people. The aid provided to the island from 2015 to 2021 amounted to $110 million, according to official reports, ...

GENEVA / WAM Trade in medical goods registered growth of 16.3 percent in 2020 — compared with 4.7 percent growth in 2019 when the Covid-19 pandemic was just starting, according to the World Trade Statistical Review 2021 issued by the World Trade Organisation (WTO). Exports of medical products, including medicines, medical equipment and PPE, rose by more than 16 percent, ...

ABU DHABI / WAM The UAE has expressed its strong denunciation and condemnation of the systematic and deliberate attempts by the Iran-backed Houthi militia to target a Saudi commercial vessel in the Southern Red Sea with a bomb-laden drone intercepted by Coalition air forces. The UAE affirmed in a statement issued by the Ministry of Foreign Affairs and International Cooperation ...

DUBAI / WAM The Dubai Airport Freezone Authority (Dafza) has announced the results of its operational performance for the first half of 2021. The free zone achieved growth in new sales revenues with an increase of 8.3%, which resulted from the rise of 24% in the leased areas compared to the same period last year. These record results are an ...

DUBAI / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority (RTA), revealed that the total revenues of RTA collected via digital channels (e-payment portal and smart kiosks) amounted to AED2.655 billion in 2020. The number of digital transactions reached 527.146 million, the number of registered users on digital ...

ABU DHABI / WAM The Abu Dhabi National Exhibition Centre (Adnec), owned and operated by the Abu Dhabi National Exhibitions Company, part of ADQ, has been recognised as the Best International Venue in 2020 by the globally leading industry organisation, Exhibition News. The award, which was distributed in London in the UK, recognises the Abu Dhabi National Exhibition Centre as ...