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BLOOMBERG National Bank of Canada has agreed to buy the Canadian commercial loan portfolio of Silicon Valley Bank (SVB) as part of a broader strategy to expand its footprint in the nation’s tech sector. The portfolio is comprised of approximately C$1 billion ($752 million) in loan commitments of which around C$325 million are outstanding, the bank said in a statement. ...

BLOOMBERG HSBC Holdings Plc announced a new buyback program and painted a bullish outlook for its 2023 earnings, joining peers in benefiting from global rate rises that have been boosting income. The London-based lender, which generates most of its income in Asia, will repurchase an additional $2 billion on top of a previous programme announced just three months ago, according ...

DUBAI / WAM Abdulla Nasser Lootah, Deputy Minister of Cabinet Affairs for Competitiveness and Knowledge Exchange, expressed the UAE’s unwavering dedication to advancing its global engagement and preparedness for the future through forging meaningful global partnerships to empower governments, support comprehensive development efforts, and build a better world for future generations. This aligns with the vision of President His Highness ...

DUBAI / WAM Dubai Airports has welcomed Air Canada’s first inbound flight at Dubai International (DXB) Terminal 3, making it the fourth international airline to operate out of the terminal. Air Canada flight AC056 from Toronto, arrived at its new base, one of the largest airport terminals in the world, at 18:56 UAE time on Wednesday. Air Canada flights previously ...

ABU DHABI / WAM AD Ports Group and Saab UAE, a leading defence and security company based in Abu Dhabi’s Tawazun Industrial Park, have signed a memorandum of understanding (MoU) to establish a strategic cooperative relationship, which will see both entities collaborate on develping maritime surveillance solutions and sensors. Under the agreement, AD Ports Group will provide access to relevant ...

DUBAI / WAM Emirates NBD has signed the UAE Climate-Responsible Companies Pledge initiated by the UAE Ministry of Climate Change and Environment. Emirates NBD Group is among the seventh cohort of 15 signatories in the UAE to sign the pledge, commit to implementing carbon emission reduction goals, and follow more sustainable methods in managing their operations, according to a timeline ...

DUBAI / WAM Poland’s remarkable achievements in green technology are gaining global recognition as it showcases its innovative ideas at the Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) in Dubai, UAE. Organised annually by the Dubai Electricity and Water Authority (Dewa), the upcoming Wetex and DSS events will be held from November 15-17 at the ...

DUBAI / WAM The UAE’s Year of Sustainability has released its second sustainability guide issue to encourage the public towards conservation efforts by exploring collective ways of preserving ecosystems and natural resources. The guide is available for the public on the Year of Sustainability’s website. The guide’s latest edition uncovers practical tips and expert insights on minimising the environmental impact, ...

TOKYO / WAM The Institute of Energy Economics of Japan (IEEJ) affirmed that the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) is set to be held at a critical juncture, especially as it will feature vital discussions on countries’ energy contributions, energy transition pathways and costs, and enhancing measures related to protecting ...

AJMAN / WAM HH Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Executive Council, on Monday inaugurated official opening of 8th edition of the Liwa Ajman Dates and Honey Festival. In his remarks during the opening, he emphasised that the festival, hosted at the Emirates Hospitality Centre in Ajman, epitomises the visionary aspirations of ...