Bloomberg China Evergrande Group fall after Caixin’s WeNews reported that a local government discussed paring the property giant’s stake in a regional lender and a new policy could curb a key source of financing for developers. Authorities in the northeastern Liaoning province held discussions with Evergrande to inject state capital into Shengjing Bank Co to dilute Evergrande’s stake, according to ...

Bloomberg The world’s top makers of Covid-19 vaccines dropped after tests of Novavax Inc.’s shots showed they were 90% effective at preventing symptoms. Stocks tied to inoculations already cleared for emergency use fall in trading, led by Moderna Inc closed down 5.2% after dropping 9.5% intraday. Pfizer Inc. fell 1.3% and the drugmaker’s German partner BioNTech SE dropped 7.5%. Consumer ...

Dubai / WAM The 100 Million Meals campaign, the biggest food drive in the region, announced that it entered into a partnership with the UAE Food Bank to distribute 10 million meals inside the country. In April, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched ‘100 ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) listed 1 billion euros of bonds issued by Emirates Telecommunications Group Company (Etisalat) in two equal tranches maturing in 2028 and 2033. The bonds were more than six times over-subscribed. Etisalat Group’s 500 million euro 7-year notes mature on May 17, 2028 and carry a 0.375 percent coupon, while the 12-year ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has ordered an aid flight to transport much needed aid to volcano-hit Goma in Democratic Republic of the Congo on the request of the humanitarian community. An aid flight chartered by the International Humanitarian City (IHC) left Dubai ...

DUBAI / WAM Fitch Solutions, the content partners of Arab Health 2021, estimated that the UAE’s medical device market will reach AED5.6 billion by 2025, with an annual compound growth rate (CAGR) of 4.4 percent from 2020-2025. According to the Q2 2021 Fitch Solutions United Arab Emirates Medical Device report, the market will benefit from an overall strong economic performance ...

Abu Dhabi / WAM Shuaa Capital, the leading asset management and investment banking platform in region, on Monday announced its intention to launch a new Digital Wealth Platform to serve existing clients as well as next generation of investors. The company appointed ex-Visa and Google alumnus, Hadi Raad, in the newly created role of Chief Digital Officer. Shuaa’s new fintech ...

DUBAI / WAM Mashreq Bank announced the completion of a major digital transformation programme for the Sharjah Electricity Water and Gas Authority (Sewa), delivering a fully secured, encrypted and automated customer deposit refund platform that forms part of Sewa’s comprehensive digitisation strategy. The new digital platform removes the need for customers to wait for the issuance of manual cheques to ...

Abu Dhabi / WAM Abu Dhabi has been ranked the most livable city in the region for the second year in a row, according to the Global Liveability Index 2021, issued by The Economist Intelligence Unit (The EIU) – the research and analysis division of Economist Group. The UAE capital moved up seven places in the 2021 global quality of ...

Abu Dhabi / WAM The Ministry of Economy (MoE) has announced that the country’s Intellectual Property (IP) sector has achieved significant growth in the number of works during the past year 2020, as it witnessed a growth of 70% compared to that of 2019. This is the latest in a series of achievements accomplished by the UAE and consolidates its ...