Masonry Layout

Bloomberg Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in its books. PT Asuransi Jiwasraya has submitted a restructuring proposal to the Financial Services Authority (FSA) that includes the stake sale in unit PT Jiwasraya ...

Bloomberg Singapore introduced new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from digital payments to trading of tokens such as Bitcoin and Ether. ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, held talks with Kassym-Jomart Tokayev, President of the Republic of Kazakhstan at the Al Watan Palace in Abu Dhabi, where they addressed bilateral ties and ways to strengthen them. They also discussed the developments ...

Abu Dhabi / WAM Abu Dhabi Commercial Bank (ADCB) on Monday reported its full year financial results for 2019, announcing a net profit of AED5.244 billion with double-digit annualised return on tangible equity of 11.2%. The Board of Directors has recommended a cash dividend of AED0.38 per share, translating to a pay out of AED2.644 billion, equivalent to 50% of ...

DUBAI / WAM The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) unveiled the ‘Digital Knowledge Hub’ – a comprehensive online platform to facilitate self-education and promote development – following the directives of MBRF Chairman Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum. Launched on the occasion of the United Nations’ International Day of Education on January 24, at a ...

DUBAI / WAM A charity initiative sponsored by the Emirates Red Crescent Authority (ERC) in Dubai saw the distribution of 3,440 food parcels to orphans, workers, farmers and low-income families. With the help of some 300 employees and customers of destination management company ’24 Degrees’ and ‘Grace Conservation’, foods including oil, rice, lentils, sugar, tea, wheat flour, legumes and canned ...

Bloomberg UK prime minister Boris Johnson will put his friendship with president Trump to the test this week as he is poised to allow Huawei Technologies Co a role in the country’s fifth-generation wireless broadband networks. In the week that the UK ends its 45-year relationship with the European Union, (EU) Johnson is expected to make a series of critical ...

Bloomberg German business expectations took a surprising turn for the worse at the start of the year, underscoring the challenges Europe’s largest economy faces in exiting a protracted slowdown. The Ifo Institute’s measure of executives’ outlook fell to 92.9, missing economist estimates for a gain. The drop was driven by dwindling prospects in services and construction — sectors that supported ...

Bloomberg An explosive leak from former National Security Advisor John Bolton’s unpublished book that says President Donald Trump wanted to freeze aid to Ukraine until its government investigated his political rival threatens to scramble the politics of the impeachment trial and bring new pressure on Republicans to call witnesses. Bolton’s account in the draft of his book, as described by ...

Bloomberg Drugmakers are racing to find medicines that can curb the spread of the coronavirus as the infection bypasses China’s travel restrictions. Pharmaceutical companies from Gilead Sciences Inc to Moderna Inc are pursuing two main strategies: helping to re-purpose medicines developed against other lethal viruses from Ebola to HIV, and relying on new technologies to develop a vaccine faster than ...