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Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has partnered with American University of Sharjah (AUS) to foster the next generation of professionals across the finance sector. Through the collaboration, the DGCX will offer AUS undergraduate students the opportunity to participate in an internship programme and educate them about how the DGCX operates and the ...

Bloomberg Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya ...

Bloomberg Japan’s government will start subsidising some companies to invest in factories in Japan and South-East Asia as part of efforts to reduce reliance on manufacturing in China. Fifty-seven companies including privately-held facemask-maker Iris Ohyama or Sharp will receive a total of 57.4 billion yen ($536 million) in subsidies from the government to invest in production in Japan, the Ministry ...

Bloomberg British intelligence services must conduct a full review of the 2016 Brexit referendum to see whether hostile Russian action swayed the vote, after the government failed to investigate, a panel of lawmakers said. Members of Parliament’s Intelligence and Security Committee accused ministers of deliberately avoiding the question because they did not want to know whether Russia had tried to ...

Bloomberg The UK government borrowed over twice as much last quarter than it did in the whole of the previous fiscal year, amid the towering cost of supporting the economy through the coronavirus crisis. The budget deficit stood at 35.5 billion pounds ($45 billion) in June, taking borrowing in the first three months of the fiscal year to a record ...

Bloomberg EBay Inc. agreed to sell its online classifieds business to Norway’s Adevinta ASA for $9.2 billion, ending one of the largest auctions of the year. Under the deal, EBay will get $2.5 billion of cash and 540 million shares in the Norwegian firm, the companies said in a statement on Tuesday. Shares in Adevinta rose as much as 39%. ...

Bloomberg Sales of Renault SA’s all-electric Zoe car jumped 38% in the first half, a rare bright spot amid the grim fallout of the coronavirus pandemic Most of the deliveries were made in Europe, where the Zoe became the best-selling electric car thanks in part to generous government incentives, the French automaker said in a statement. Renault’s overall sales in ...

Bloomberg Argentina’s three largest creditor groups joined forces to submit a new bond restructuring proposal that would provide the country more than $35 billion in debt relief over the next nine years. The Ad Hoc group, the Exchange Bondholder group and the Argentina Creditor Committee, which represent investors including BlackRock Inc. and Ashmore Group PLC, said that they had agreed ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has said that the launch of the ‘Hope Probe’ on its historic journey to Mars under the slogan of “Nothing is impossible” constitutes a national and Arab achievement and an advanced Emirati push in the process of building global knowledge in space. In his speech on the ...

Abu Dhabi / WAM The Abu Dhabi Business Centre of the Abu Dhabi Department of Economic Development (Added) is set to launch the ‘Economic Establishments Data Capturing Project’ which is an integrated database that will provide essential information to help investors evaluate developments in the business sector in Abu Dhabi. The data will also be used in the preparation of ...