ABU DHABI / WAM In the presence of HH Sheikh Hamed bin Zayed Al Nahyan, Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and NPCI International Payments Limited (NIPL), have announced a strategic partnership to advance the development of the UAE’s first national Domestic Card Scheme (DCS). The agreement was exchanged between Saif ...

DUBAI / WAM The Big 5 Global, the MEASA region’s largest construction industry event, is scheduled for December 4-7, at the Dubai World Trade Centre. The event expects 2,200+ exhibitors and 68,000+ attendees from 150+ countries, fostering networking, partnerships, and knowledge exchange. It brings together stakeholders from contractors, developers, architects, engineers, and innovators to ESG advisors and policymakers, fueling the ...

BLOOMBERG The dollar strengthened against most of its major peers as currency traders got their first chance to react to a shock attack. The greenback — seen as a haven in times of trouble — advanced 0.2% versus the euro and pound, while risk currencies such as the Aussie and kiwi weakened. The Norwegian krone was the best-performing major currency ...

BLOOMBERG Chinese stocks ended lower in a choppy session following their return from the Golden Week break, as investors parsed holiday-spending data while navigating global market volatility. The CSI 300 Index closed down 0.1% on Monday, its first trading session since September 28. Risk assets were hammered last week as renewed concern about higher-for-longer US interest rates spurred a Treasuries ...

BLOOMBERG Metro Bank Holdings CEO Daniel Frumkin indicated that Barclays Plc is among the possible buyers of a $3.7 billion mortgage portfolio the struggling lender put up for sale as it attempts to strengthen its balance sheet. Frumkin said the process had attracted significant interest from potential suitors including one not “dissimilar to what’s on your paycheck.”

BLOOMBERG A plan to whisk passengers around Paris in air taxis during the Olympic games next year faces a new challenge after manufacturer Volocopter GmbH said the advanced electric motors it needs for its two-seater craft have been delayed. Volocopter is working with the engine maker and continues test flights with other, less-refined motors as it seeks to obtain regulatory ...

BLOOMBERG The UK’s Information Commissioner’s Office issued Snap Inc, the maker of the Snapchat app, with a preliminary enforcement notice over the company’s generative artificial intelligence chatbot. The notice cited Snap’s potential failure to properly assess privacy risks from its My AI chatbot, the watchdog said in a statement. If a final notice is issued, the social media platform might ...

BLOOMBERG Wireless carriers balked at allowing Samsung Electronics Co to load its Galaxy S10 device with an app search capability that Google lacked, due to potential conflicts over their contracts with Google, a former Samsung investment adviser said at the search giant’s antitrust trial. “The carriers had concerns it cannibalised their existing search revenues,” said Patrick Chang, a former director ...

BLOOMBERG Dell Technologies Inc, the company which helped usher in the era of personal computing, said its most promising business now is the one that sells equipment for data centers. While Dell expects PCs to emerge from their slump and generate a long-term revenue increase of about 2.5%, the division that sells servers, data storage and other office infrastructure will ...

ABU DHABI / WAM Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by 4.4% in 2024. This growth is being driven by a number of factors, including government initiatives to support economic diversification. In his statement to the Emirates News Agency (WAM), Scott Livermore, Chief Economist, Oxford Economics Middle East, and Managing Director, ...