Bloomberg The Playboy Mansion is under contract for more than $100 million. The buyer: a 32-year-old son of a billionaire who already owns the property next door. Daren Metropoulos, principal at investment firm Metropoulos & Co. and co-owner of Hostess Brands, has agreed to buy the Holmby Hills, California, estate where Playboy founder Hugh Hefner will continue to live, …

  DUBAI / WAM Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary of the Ministry of Economy for Economic Affairs, and Felix Neugart, CEO of the German Emirati Joint Council for Industry and Commerce, reviewed means to strengthen UAE-German economic relations and to develop partnerships between the business communities in the two countries. During the meeting which was held in Dubai, …

  ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 decreased by 0.9 percent from AED 493.4 billion at the end of April, 2016, to AED 488.9 billion at the end of May, 2016. The Money Supply aggregate M2 decreased by 1.4 percent, from AED 1203.1 billion at the end of April, 2016 to AED …

  DUBAI / WAM Nasdaq Dubai welcomed the listing on Sunday of a US$400 million conventional bond by the Industrial and Commercial Bank of China (ICBC). It was the second bond to be listed by ICBC on the Middle East’s international exchange, following a $500 million listing in May, 2015. The new listing underlines the continuing expansion of capital markets links …

  SHANGHAI / WAM Sharjah International Airport Authority (SIAA) participated for the first time in the Air Cargo China Exhibition and Conference 2016, which took place from June 14th to 16th at the Shanghai New International Expo Centre. At the show, the SIAA demonstrated the latest improvements, services and facilities provided by Sharjah International Airport, as well as the many opportunities …

ABU DHABI / WAM In a bid to provide all means of support to benefit the banking sector, the Ministry of Finance (MoF), in collaboration with the UAE Central Bank and Dubai International Financial Centre, DIFC, has commenced preparations for the UAE Banks’ reception, set to take place on October 7 alongside the upcoming International Monetary Fund, IMF, and World Bank …

  Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council (DEC), said that the annual Dubai Investment Forum has proven successful in presenting a model for the future of strategic sustainable investment, bringing together government departments and institutions that provide strategic growth opportunities and partnerships to investors and …

  Abu Dhabi / WAM The UAE Ministry of Economy (MoE) on Sunday started a new series of market inspections for the holy month of Ramadan. In the last two weeks, the ministry inspected vegetable, fruit, meat, chicken, and fish markets across the UAE. The ministry’s inspection of Lulu Hypermarket in Abu Dhabi’s Al Wahda Mall in Abu Dhabi was …

  SHARJAH/ WAM University Hospital Sharjah (UHS) had tied up with a leading German hospital for medical advice on the treatment of diabetic patients suffering from blocked arteries, with Professor Dr Thomas Zeller, Head of the Angiology Department, Freiburg University in Germany, and the UHS team performed interventional procedures on nine patients under his supervision. The visiting professor is a …

  Dubai / Emirates Business The Abu Dhabi City Municipality (ADM) compiled and officially launched the submittal of roads layout data standards via the Geographic Information Systems (GIS). This e-service comes as part of the vision of both the Department of Municipal Affairs and Transport, and the Abu Dhabi City Municipality, aimed at upgrading services, and expanding e-services on regular …