Bloomberg Hong Kong unveiled its first stamp-duty increase on stock trades since 1993, sparking a broad selloff in the $7.6 trillion market and sending shares of the city’s exchange to their biggest plunge in more than five years. The planned trading-tax increase to 0.13% from 0.10% was part of a raft of new measures announced in Hong Kong’s budget that ...

Bloomberg The National Stock Exchange of India Ltd. (NSE) shut trading in its cash and derivative segments earlier on Wednesday, citing “issues” with telecom links of its two service providers, which it said impacted the system and stopped prices from updating. “We are working on restoring the systems as soon as possible,” a spokesperson for NSE, the world’s biggest derivatives ...

DUBAI / WAM The government retreat to plan the next 50 years, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, began on Tuesday, with the participation of ...

ABU DHABI / WAM The UAE is a long-time partner that has supported Japanese economy and society, and economic relations remain robust with $22.4 billion bilateral trade in 2020, a top Japanese official told WAM. “As one of the most significant crude oil suppliers to Japan, the UAE is a very important partner that has supported our economy and society ...

ABU DHABI / WAM Etisalat Group announced that its twelve month ending on December 31, 2020, consolidated revenues reached AED51.7 billion, while consolidated net profit after Federal Royalty amounted to AED9 billion, an increase of 3.8 percent compared to last year. The Group’s Board of Directors proposed dividend payout of 40 fils per share for the second half of 2020, ...

ABU DHABI / WAM The UAE has strongly condemned the cowardly attack that targeted a convoy of the UN World Food Programme (WFP) near Goma, the capital of the North Kivu province in the Democratic Republic of the Congo (DRC). The Italian ambassador to the DRC and two other people were killed during the attack. The Ministry of Foreign Affairs ...

ABU DHABI / WAM The third day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 12 new deals, worth AED 5.589 billion, with local and international companies. The cumulative value of deals signed at Idex and Navdex 2021 is now AED 17.913 billion. Staff Brigadier-General Mohammed Al Hassani, ...

Bloomberg Oil rose near $62 a barrel with investment banks and traders predicting the market’s rally can go further. Futures in New York gained 0.8% on Tuesday and are up almost 30% so far this year. The market is heading towards what could be the tightest quarter since at least 2000, according to Morgan Stanley, while Socar Trading SA sees ...

ABU DHABI / WAM Tawazun Economic Council and the UAE’s flagship satellite services operator, Yahsat, have signed a Memorandum of Understanding (MoU) to establish a new company to develop critical in-country capabilities in relation to the development and manufacture of advanced satcom solutions within the UAE, with a focus on building intellectual property locally for increased national security and advanced ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, honoured the Emirates Mars Mission “Hope Probe” team of more than 200 engineers on ...