BLOOMBERG  Standard Chartered Plc agreed to sell its Zimbabwe business to the country’s FBC Holdings Ltd as it presses ahead with plans to exit seven markets in Africa and the Middle East. The emerging markets-focussed bank will transfer 100% of its shareholding in the unit, including the custodial services business, to FBCH, as the investment holding company is known. FBCH ...

BLOOMBERG  China’s four big state lenders have effectively cut dollar deposit rates, according to people familiar with the matter, at a time when strong demand for the US currency in the banking system helped push the yuan to a six-month low. The banks have lowered the ceiling on the rates — which are a spread over the US Secured Overnight ...

LIMA / PERU / WAM The UAE and the Republic of Peru signed an air services agreement, with Mohammed Abdullah Al Shamsi, UAE ambassador to the Republic of Peru, signing on behalf of the UAE and Gervasi Díaz, Minister of Foreign Affairs, representing Peru. This agreement will open new horizons for cooperation between the two countries and promote intra-trade. Al ...

LONDON / WAM SailGP, the world’s most exciting race on water, has announced a new partnership with Mubadala Investment Company, an Abu Dhabi-based international investor, as Global Series Partner. This collaboration brings together two leading-edge organisations, building on Mubadala’s successful two-year tenure as the SailGP Season Grand Final title partner in San Francisco. The new partnership extends for the next ...

BLOOMBERG  The Reserve Bank of India (RBI) left its key interest rate unchanged for a second meeting and retained its tightening stance, signalling rate-setters want to see inflation moderating further while weaker monsoon risks remain a concern. A six-member monetary policy committee voted unanimously to keep the benchmark repurchase rate at 6.50%. All 40 economists in a Bloomberg survey predicted ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) and Luxembourg Stock Exchange (LuxSE) signed a memorandum of understanding (MoU), to establish a framework for cooperation between the two institutions. The MoU aims to facilitate the dual listing of a broad range of financial instruments, maximise access to European, Middle Eastern, and international investors, expand pre- and post-listing services, provide ...

BONN / WAM The Arab Youth Centre, the American University of Sharjah (AUS), and New York University Abu Dhabi’s Green House are honoured to announce their selection as official co-hosts for the upcoming 18th edition of the Conference of Youth (COY18). To be held in November in the UAE in the lead-up to the United Nations Climate Change Conference of ...

ABU DHABI / WAM Multiply Group, an Abu Dhabi-based investment holding company, is partnering with US-based 4ocean, a purpose-driven B Corp (certified public benefit organisation) with a mission to end ocean plastic crisis, to offset more than 100,000 pounds of plastic waste and contribute to ocean and coastline clean-up efforts around the world as part of its “Cleaning Up the ...

DUBAI / WAM Dubai’s real estate market recorded 547 sales transactions worth AED1.25 billion on Thursday, in addition to 95 mortgage deals totalling AED386.79 million, and 49 gift deals amounting to AED177.98 million, data released by Dubai’s Land Department (DLD) showed. The sales included 503 villas and apartments worth AED1.03 billion, and 44 land plots worth AED214.38 million. The mortgages ...

ABU DHABI / WAM HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, First Vice President of Al Ain Club, First Vice President of the Honorary Council, Chairman of the Board of Directors of Al Ain Sports and Cultural Club, has issued a resolution appointing Mohammed Abdullah Ahmed Al Dhaheri to manage and supervise the affairs of ...