Abu Dhabi / WAM Brune Poirson, French Secretary of State for the Ecological and Inclusive Transition, arrived in the UAE to attend the ‘Abu Dhabi Climate Meeting for the UN Climate Action Summit 2019’, taking place on Sunday and Monday. France, who currently holds the Presidency of the G7, has made combating climate change one of its top diplomatic priorities, ...

Abu Dhabi / WAM The Memorandum of Understanding (MoU), was signed by Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Ahmed Ali Al Sayegh, Minister of State and Chairman of ADGM, on the sidelines of the Abu Dhabi Climate Meeting. The key details of the deal include attracting private investment and cutting-edge technologies to the country ...

Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD), earmarked a grant worth AED1.8 million ($500,000) to support the North-Eastern Federal University (NEFU), in Yakutsk, Russia. Aiming to facilitate scientific research and molecular genetic analysis in the remains of ancient animals, the financial contribution has been allocated to acquire 36 types of industry-specific laboratory equipment for the university. This grant aims ...

Bloomberg Titans of the US banking industry said they will pump out more cash to shareholders after all 18 lenders passed the Federal Reserve’s annual stress tests. The results were a particular win for Deutsche Bank AG after it repeatedly failed past exams. A dozen of the nation’s largest lenders said they will boost payouts through dividends and stock buybacks ...

Bloomberg India’s financial regulator has spelled out its concerns about the implications of the country’s spreading shadow banking crisis, saying any failure among the largest of the non-bank finance firms could cause losses comparable to a collapse among the major banks. In its latest Financial Stability Report released, the Reserve Bank of India said the potential losses in the event ...

Bloomberg Australian lenders including Commonwealth Bank of Australia pledged to rein in uninvited offers of credit and commission charges after an inquiry that unearthed a string of scandals in the financial sector. The new code of practice, in force from July 1, is designed to increase customer protection and introduces new penalties for breaches, the Australian Banking Association said in ...

Bloomberg JPMorgan Chase & Co.’s first investment in an Asian financial technology firm is a key plank in the US bank’s strategy to boost its cash management services in fast-growing regional markets such as India and China, according to a senior regional executive. Last month, JPMorgan announced it was taking a stake in Global PayEx, a Mumbai-based fintech firm which ...

Bloomberg Brazil’s central bank cut its 2019 growth forecast by more than half, blaming factors including falling confidence, a weaker than expected first quarter and a global slowdown. Latin America’s largest economy will expand 0.8 percent this year, down from previous estimate of 2 percent in March, according to the central bank’s quarterly inflation report published. Policy makers are more ...

Bloomberg At least a fifth of adults in the Philippines, or about 13.9 million people, use Facebook daily for news, according to a poll conducted by Social Weather Stations (SWS). As many as 40.4 million individuals, or 60 percent, still get their news through television, about 15 percent through radio and only 2 percent read newspapers daily, according to the ...

Bloomberg India’s current-account deficit narrowed last quarter as a slowdown in the economy sapped imports. The shortfall was $4.6 billion in the January-March period, the RBI said. That compares with a median $6.1 billion deficit estimated in a survey. The gap is smaller than the previous quarter’s $17.7 billion, or 2.7 percent of GDP. It compares with a deficit of ...