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Bloomberg House Speaker Nancy Pelosi’s swing through Asia aimed to convey the US’s “strong and unshakable” support for the region. It ended up leaving many countries in stunned silence as China conducted unprecedented military drills around Taiwan. The shockwaves from the highest-level US visit to Taiwan in a quarter century are still reverberating around the region days after she flew ...

  Bloomberg The UK economy probably shrank for the first time since the nation was in a coronavirus lockdown at the start of 2021, adding to pressure for action from the contenders vying to take over as prime minister. Gross domestic product for the second quarter probably shrank 0.2%, according to a survey of economists by Bloomberg News ahead of ...

Abu Dhabi / WAM The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE. The UAE is one of the first countries to implement such a mechanism for real estate transactions involving ...

  Abu Dhabi / WAM Adnoc Distribution reported strong first half results for 2022, recording an Ebitda of AED1.99 billion and net profits of AED1.56 billion. Adnoc Distribution witnessed year-on-year growth in total fuel volumes, up 9% in H1 2022 compared to H1 2021, while the company’s corporate fuel volumes recorded sustained growth with a 27% year-on-year increase, underpinned by ...

  Abu Dhabi / WAM The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE’s federal export credit company, signed a memorandum of understanding (MoU) to promote increased global trade and investment. Both entities agreed to work together to position the UAE as an ideal destination for trade and investment, highlighting its stable and ...

  DUBAI / WAM The Dubai International Financial Centre (DIFC) announced the launch of the first Global Family Business and Private Wealth Centre (Centre) in the region and worldwide. DIFC is the first financial centre in the world to create a unique offering at a time when an estimated AED3.67 trillion ($1 trillion) in assets will be transferred to the ...

  Bloomberg Shipping in the Taiwan Strait began to return to normal on Monday, though China’s announcement of a new military exercise near the island signaled that risks remain for the industry. More than 40 vessels have transited through a China military drill zone south of Taiwan’s main port since Saturday, according to ship-tracking data compiled by Bloomberg. The latest ...

  Abu Dhabi / WAM Emirates Development Bank (EDB) held its board meeting to review results of the first half of 2022 and monitor the progress of its new strategy which was launched in April 2021 to support the UAE’s industrial development, accelerate the adoption of advanced technologies, and empower the growth of SMEs. The board meeting was held for ...

  Sharjah / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah, and Chairperson of the Supreme Council for Family Affairs (SCFA), has issued a directive to establish a higher committee to steer “Kanaf”, a first-of-its-kind interdisciplinary, multi-agency child protection centre that provides prompt legal, psychological, and social support to child victims of abuse. The ...

  Dubai / WAM Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the formation of the Dubai Digital Assets Business Group (D2A2), which aims to strengthen the digital asset industry’s role in the economic development of the UAE and the wider Middle East region, enhance digital business infrastructure and support ...