Bloomberg Grab Holdings Inc and gaming company Razer Inc will need to demonstrate how their millions of users can help them generate profits if the two technology firms are to win one of Singapore’s coveted virtual banking licenses. That’s because the Monetary Authority of Singapore is putting more emphasis on profitability and strong capital requirements than some other regulators inviting ...

Ajman / Emirates Business Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone (AFZ), officially inaugurated the “Business Hub”, a dedicated facility for both freelancers, entrepreneurs and businesses accommodated within the main Ajman Free Zone building. The new hub has been specially designed to provide AFZ investors with a comfortable and practical environment from which to operate their ...

DUBAI / WAM Dubai Multi Commodities Centre, (DMCC) – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced a set of new rules and regulations effective from January 2, 2020 to further enhance the ease of setting up and doing business in DMCC. The new regulations update DMCC’s existing company law ...

ABU DHABI / Emirates Business Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (Senaat), has been awarded a ‘Best Exporter Award’ by the Arab Iron and Steel Union (AISU) during the 14th Arab Steel Summit in Tunisia. The event was attended by industry experts and leading companies in the iron ...

Abu Dhabi / WAM The General Command of Abu Dhabi Police (ADP), announced on Wednesday the reduction of traffic violations committed before December 22, in the Emirate of Abu Dhabi, by 50 percent. Black points and penalties for impounded vehicles will also be cancelled for three months, the General Command explained. ADP also announced a new scheme, beginning December 22, ...

Bloomberg Car tires helped make Thailand a $6 billion latex powerhouse. Now, the industry wants to plaster the plant material on faces and use it to stop coastal erosion in a makeover designed to keep more rubber profits at home. Thai rubber, which has traditionally ended up in foreign tires, gloves, and other manufactured products, is reeling from slowing car ...

Bloomberg Showa Denko KK, Japan’s No 3 diversified chemicals supplier, agreed to pay more than double its own market value to buy its bigger rival Hitachi Chemical Co, to scale up its lithium-ion battery and advanced materials businesses and keep pace with Chinese rivals. Tokyo-based Showa Denko offered as much as 964 billion yen ($8.8 billion) for all shares of ...

Bloomberg Japanese exports dropped for a 12th straight month in November, offering no clear indication yet of a pickup despite recent signs of green shoots in global manufacturing. The value of shipments overseas fell 7.9% in November from a year earlier, dragged down by sliding exports of cars and construction and mining equipment, data from the Ministry of Finance showed ...

Bloomberg A Chinese pipe maker endured a rollercoaster debut, finishing the day at a loss after almost doubling during its initial public offering in Hong Kong. Maike Tube Industry Holdings Ltd surged as much as 84% on Wednesday morning, before closing down 5.7%. It’s the latest example of a stock seeing wild swings in its Hong Kong debut. Snack Empire ...

Bloomberg NMC Health Plc said claims made by Carson Block’s Muddy Waters Capital LLC “appear principally unfounded,” after a report by the short seller sent shares tumbling the most on record. “NMC will review the assertions, insinuations and accusations made in the report, which appear principally unfounded, baseless and misleading, containing many errors of fact, and will respond in detail ...