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BLOOMBERG  UBS Group AG expects to complete its acquisition of Credit Suisse Group AG as early as June 12, creating a new powerhouse in European banking and ending weeks of uncertainty for the lenders’ more than 100,000 employees. The closing of the deal is still subject to certain conditions, including some that UBS said it could waive, according to a ...

BLOOMBERG  JPMorgan Chase & Co has tied up with six Indian banks to introduce a blockchain-based platform to settle interbank dollar transactions in the nation’s newest international financial hub. “We will be running a pilot project for the next few months as we need to analyse banks’ experience,” Kaustubh Kulkarni, senior country officer, India and vice chairman, Asia Pacific at ...

BLOOMBERG  Large US banks may face a 20% average increase in capital requirements from upcoming rule proposals as the collapse of several smaller lenders this year adds urgency to a push to bolster the industry’s financial strength, according to the Wall Street Journal (WSJ). The revised requirements could be proposed as early as June, and the specific increases will depend ...

BLOOMBERG  The Reserve Bank of India (RBI) may face growing pressure to defend a key level for the rupee as its interest-rate pause looks set to weigh on the currency. The rupee is poised to test the 83-per dollar mark in the near term if the central bank remains on hold and changes its stance to neutral, effectively signaling an ...

ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) has partnered with Emirates Nature-WWF and Environment Agency — Abu Dhabi to launch the “Escape Climate Change: Mangrove Edition”, a nature-themed escape room as part of World Environment Day. The launch is part of the COP28 Youth Climate and Nature series, which was inaugurated by a host of senior official ...

AL AIN / WAM The Emirates Centre for Mobility Research (ECMR) at the United Arab Emirates University (UAEU) is the first academic research entity in the UAE to become a member of the International Road Federation (IRF). Dr. Hamad Abdullah Al Jassmi, Director of the ECMR, and Prof. Kamil Kaloush, Chairman of the International Road Educational Foundation (IREF) and a ...

DUBAI / WAM Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has announced several achievements in the first quarter of 2023, as part of its ongoing drive to support Dubai’s development and economic aspirations, boost the competitiveness of the emirate and its private sector, and contribute to the goals outlined in the ambitious Dubai Economic ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received a written message from President Nikos Christodoulides of the Republic of Cyprus regarding the bilateral relations between the two countries. The message was delivered to HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, during his meeting with Constantinos Kombos, Cypriot Minister ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Queen Margrethe II of Denmark on the occasion of her country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin ...

ABU DHABI / WAM e& announced on Monday that it is on track to meet its 2030 net-zero target as it accelerates the implementation of climate action projects in its UAE operations. The group’s climate action projects, implemented by etisalat by e& in the UAE, include using the latest generation of energy-efficient radio equipment with advanced artificial intelligence (AI) features ...