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Bloomberg Bank of America Corp (BofA) is planning to apply to set up a securities firm in China, playing catchup to rivals including JPMorgan Chase & Co and Goldman Sachs Group Inc. in an expansion into the $54 trillion financial market. The bank aims to apply for regulatory approval early next year. It plans to submit applications for licenses allowing ...

Bloomberg Markets are bracing for a pivotal Federal Reserve meeting that’s expected to lay out a roadmap for tapering pandemic-era stimulus and perhaps provide clues about the timing of a liftoff in interest rates. The prospect of rising borrowing costs to fight inflation has roiled bonds and flattened the Treasury yield curve, suggesting a slower economic recovery lies ahead. But ...

Bloomberg Kakao Pay Corp, South Korea’s largest mobile payments app, more than doubled in its debut in Seoul, following a rocky path to public markets that was marked by heightened regulatory scrutiny. Shares of Kakao Pay surged more than 150% in early trading on Wednesday after pricing the offering at 90,000 won. The startup, backed by Jack Ma’s Ant Group ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), and the “Mother of the Nation”, congratulated the UAE leadership and people on the occasion of the UAE Flag Day, which is observed on November 03. ...

DUBAI / WAM The Dutch Minister for Foreign Trade and Development Cooperation, Tom de Bruijn, arrived in the UAE on Tuesday, leading a 50 Dutch company representatives. The minister wants to “make new partners for solving global challenges and deepen relations with existing partners in the UAE and broader Gulf region,” a press release by the Consulate General of the ...

DUBAI / WAM In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, FedEx Express, a subsidiary of FedEx Corp and the world’s largest express transportation company, has signed an agreement with Dubai South to build its new regional ...

DUBAI / WAM Shuaa Capital psc, the leading asset management and investment banking platform in the region, has announced that its insurance assets under management have grown to $136 million to date and are expected to reach half a billion dollars within the next three years. Over the past three years, Shuaa has managed the equity and debt (fixed income) ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has discussed with Kazakhstan prospects of enhancing economic cooperation, developing trade relations and mutual investment. During a meeting held at Expo 2020 Dubai, Abdullah Sultan Al Owais, Chairman of the SCCI, explored with Malika Bekturova, Deputy Mayor of the Nur-Sultan city, avenues of cooperation and spoke about possible partnerships ...

Abu Dhabi / Emirates Business Effective December 2, Etihad Airways, the national airline of the United Arab Emirates, will transfer all Russian operations to the new state-of-the-art International Terminal C at Moscow Sheremetyevo Alexander S. Pushkin International Airport (SVO). The first departure to SVO will take place on the 13th anniversary of Etihad’s first direct service to Moscow in December ...

Dubai / WAM The GCC’s petrochemicals, plastics and rubber producers will discuss innovation strategies at ArabPlast 2021, which will take place from November 15-18 at Dubai International Convention and Exhibition Centre, with the participation of six international pavilions namely Germany, Italy, Switzerland, Austria, Turkey, and India. The show will attract over 200 exhibitors from 30 global countries, 4 of them ...