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  Dubai / WAM DMCC – the world’s flagship free zone and government of Dubai Authority on commodities trade and enterprise – has announced the launch of the DMCC Gaming Centre in support of the increasingly growing global and regional video games industry. Currently standing at $1.8 billion, revenues generated by the gaming industry in the Mena region are expected ...

  Bloomberg When China’s securities regulator vowed to reduce market volatility in January, few predicted that this year would be one of the most turbulent in recent memory. The drama has only increased this quarter, setting the scene for more upheaval in 2023. Chinese stocks are now moving by 5% a day more frequently than anytime since the global market ...

  Bloomberg Hong Kong billionaire Richard Li is weighing investing about $200 million in his insurance company FWD Group Holdings Ltd as part of a funding round, people familiar with the matter said. An investment would help support the insurer’s growth plans ahead of a long-awaited Hong Kong initial public offering, which could take place as soon as 2023, the ...

Bloomberg Chinese officials continued to downplay the risks of Covid-19 as restrictions are eased, with a top medical adviser saying the fatality rate from the omicron variant of the virus is in line with influenza. The death rate from omicron is around 0.1%, similar to the common flu, and the infection rarely reaches the lungs, Zhong Nanshan was quoted in ...

Bloomberg The strains in South Korea’s credit market showed further signs of easing, with short-term borrowing costs falling for the first time in 20 months on Monday. Yields on three-month commercial paper — which companies use to raise funds for short-term payments like payroll — dropped a basis point in Seoul, which means conditions are improving. That would be the ...

Bloomberg Group of Seven leaders were expected to hold a virtual meeting hosted by German Chancellor Olaf Scholz, according to a public itinerary for Canadian Prime Minister Justin Trudeau. The leaders are likely to discuss topics including support for Ukraine against Russia’s military assault. It wasn’t immediately clear whether all G7 leaders would participate. Trudeau’s government imposed a fresh round ...

Bloomberg Demonstrations in Peru left one person dead, while a Congressional debate on proceedings against former President Pedro Castillo was suspended. Peru’s National Police (PNP) said in a statement one person died during clashes with the officers at the city of Andahuaylas’ airport. Demonstrators occupied the airport, preventing dozens of policemen and workers from leaving the control tower. A policeman ...

  Dubai / WAM The United Arab Emirates launched its latest space mission, Rashid Rover, as part of the Emirates Lunar Mission, representing a pioneering national endeavour in the space sector and a historic moment that, if successful, will be the first Emirati and Arab mission to land on the surface of the moon. His Highness Sheikh Mohammed bin Rashid ...

  Dubai / WAM Dr Mohammed Al Zarooni, Chairman of the World Free Zones Organisation (World FZO), headed a delegation from the World FZO on an official visit to the Dominican Republic and the Republic of Cuba to outline trends and factors to advance the future growth of free zones, in addition to identifying bilateral cooperation mechanisms to support the ...

Dubai / WAM Under the patronage of the Ministry of Climate Change and Environment and in association with the Ministry of Community Development, the 21st cycle of the nationwide campaign, the “Clean UAE” reached its 4th stop – the emirate of Dubai. Armed with the successes achieved in the previous stops in Ajman, Fujairah and Sharjah, Emirates Environmental Group (EEG) ...