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Dubai / WAM Mashreq Bank has signed a Memorandum of Understanding (MoU) with Dubai Airport Freezone Authority (Dafza) to support and grow the ecosystem of services available to small and mid-size enterprises (SMEs) setting up in the zone. The MoU will ensure Dafza businesses have access to a wide variety of initiatives including API integration, as well as banking services ...

Dubai / WAM Around 92,000 underprivileged families and individuals in Mauritania received 4.5 million meals as part of the ongoing ‘100 Million Meals’ food distribution campaign, the largest food distribution drive in the region, aims to provide food support across 30 countries in Africa, Asia, Europe, and South America. Beneficiaries, identified by database of local authorities, received parcels of easy-to-store ...

Sharjah / WAM Sharjah Publishing City Free Zone’s (SPC Free Zone) mission of creating a nurturing and supportive environment for businesses has seen it attract more than 1,000 companies since the first half of the year 2021. These include the publishing, printing and translation sectors, commercial, administrative and legal consultants and companies operating in creative sectors. This has been accomplished ...

Bloomberg China’s government is assembling a group of accounting and legal experts to examine the finances of China Evergrande Group, a potential precursor to a restructuring of the world’s most indebted developer. Regulators in Evergrande’s home province of Guangdong dispatched a team last month from King & Wood Mallesons, a law firm whose specialties include restructuring, two people familiar with ...

Bloomberg Singapore is planning new measures to boost its domestic stock market, according to people with knowledge of the matter. State investment giant Temasek Holdings Pte’s 65 Equity Partners Holdings Pte, with a fund size of at least S$1 billion ($745 million), will invest in Singapore and regional mid-cap firms, including initial public offerings, the people said. Temasek and sovereign ...

Bloomberg South Korea fined Alphabet Inc’s Google $177 million for hampering the development of rivals to its Android operating system, sustaining a campaign targeting the US search giant’s dominance in smartphone software. Regulators accuse Google, whose mobile operating system powers more than 80% of smartphones around the world, of using its immense bargaining power to squeeze out the competition. The ...

Bloomberg President Joe Biden’s envoy for North Korea said the door remains open for talks, after Pyongyang claimed it tested new long-range cruise missiles that bolster its nuclear strike capabilities against Japan and South Korea. “We hope the DPRK will respond positively to our multiple offers to meet without preconditions,” Sung Kim, the State Department’s special representative for North Korea, ...

Bloomberg The number of workers on UK company payrolls climbed above its pre-pandemic level as vacancies hit a record high with firms battling staff shortages created by Brexit and lockdowns. The figures from Office for National Statistics (ONS) included a 35% surge in job openings in the quarter to 1.03 million, the first time they’ve risen above 1 million. That ...

Bloomberg The European Union (EU) met strong investor demand on its return to the bond market on Tuesday with a seven-year debt sale. The nation wracked up more than 85 billion euros ($100 billion) of orders for a 9 billion-euro offering of bonds maturing in 2028 via banks, with pricing set at 14 basis points below swaps. Analysts had expected ...

Bloomberg Hungary plans to offer a range of dollar and euro bonds to shore up its budget as it’s facing a potential delay in accessing European Union (EU) funds because of a feud with the bloc over democratic values. The country may sell 10-year and 30-year bonds in dollars, as well as seven-year and/or 20-year bonds in euros, according to ...