Bloomberg BlackRock Financial Management, Inc. received approval from the China Securities Regulatory Commission to set up a wholly-owned mutual fund management company in the country. BlackRock is the first foreign business to receive the approval in China. The new company is based in Shanghai and has registered capital of 300 million yuan ($43.7 million), according to a statement on the ...

Bloomberg Stocks in Europe began the week advancing alongside the US futures after equities set fresh record highs. The yen weakened. Mining shares led gainers in Europe along with utilities including Suez SA, which jumped after an approach by rival Veolia Environnement SA. Contracts on the three main American stock indexes pointed to a strong open on Wall Street. Markets ...

Bloomberg Indian stocks reversed gains, halting a six-day advance, after the government said troops clashed with Chinese counterparts. The main stock index remained on course to cap its best run of monthly gains in four years. A gauge of implied stock volatility surged after the announcement and the S&P BSE Sensex slipped 0.8% to 39,166.6 at 1:02 pm. The measure’s ...

Bloomberg Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman. Gas has started flowing from Hadabat Al-Hajara field near the Iraqi border at an average daily rate of 16 million standard cubic feet, in addition to 1,944 barrels of condensates, which are ...

Abu Dhabi / WAM His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, has approved the amendments to the Labor law, granting the employees in the private sector a paid leave to care for the child. The UAE will be the first Arab country to grant parental leave to employees in the private sector. The decree aims ...

Abu Dhabi / Emirates Business Following the consolidation of Mubadala’s financing, leasing and MRO businesses to create Sanad Group, the company has now announced the appointment of its leadership who will be tasked with the goal of delivering integrated and comprehensive solutions for its global client base through Sanad Aerotech, Sanad Powertech and Sanad Capital. Troy Lambeth has been appointed ...

Dubai / WAM The Department of Economic Development in Ajman (Ajman-DED) received the merit certificate from Houston-based TUV for its excellent application of four ISO Systems namely ISO Business Continuation 22301, ISO Health and Professional Safety 45001, ISO Environment Management System 14001, ISO Integrated Management System PAS 99. Abdullah Ahmed Al Hamrani, Acting Director General, received the certificate in presence ...

Dubai / WAM To provide parents, students and staff members in private schools in Dubai with an effective and convenient mechanism to address Covid-19 related queries, the Dubai Health Authority (DHA) has launched a dedicated 24/7 back-to-school helpline at phone number 800588. The launch of this service reinforces the authority’s commitment to provide effective communication channels to the community, offering timely ...

DUBAI / WAM The Islamic Affairs and Charitable Activities Department (IACAD) announced the resumption of prayers in mosques in industrial zones and workers’ cities, starting with the Fajr prayers, but with a limit of 30 percent of capacity. However, Friday’s prayers will remain suspended until further notice, the department added. The decision was made after the implementation of several precautionary ...

Dubai / WAM The Ministry of Education has launched an initiative, entitled, “Welcome My School,” coinciding with the start of the new 2020/2021 academic year. The programme aims to create a positive and interactive educational environment for students, so they can continue their education through the hybrid learning system. The initiative and its related activities will encourage motivation and promote ...