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Bloomberg The Reserve Bank of India (RBI) restricted American Express Banking Corp (Amex) and Diners Club International Ltd (Diners) from adding new local customers, citing non-compliance with data-storage rules. The order will take effect from May 1 and won’t impact existing customers, the RBI said in a statement. The firms are the first to be penalized under India’s data-storage rules ...

Bloomberg The Bank of Russia unexpectedly raised its key interest rate by 50 basis points and signalled more tightening as ruble volatility contributed to inflation risks. The benchmark rate was raised to 5%, the Bank of Russia said in a statement. Thirteen economists out of 41 analysts forecast the move, while 28 expected a smaller cut, according to a Bloomberg ...

Bloomberg Chinese companies are listing in the US at the fastest pace ever, brushing off tensions between the world’s two biggest economies and the continued risk of being kicked off American exchanges. Firms from the mainland and Hong Kong have raised $6.6 billion through initial public offerings (IPOs) in the US this year, a record start to a year and ...

Bloomberg Die-hard Tesla Inc investors might be forgiven for wondering why the thrill of owning iconic carmaker’s stock has seemingly disappeared. After all, since catapulting over 700% last year, the shares have barely eked out a 3.4% advance in 2021. Meme stocks like GameStop have pushed Tesla out of the limelight, while Bitcoin has attracted almost all the buzz. But ...

Bloomberg The UK estimated that delivering on its ambitious targets to slash greenhouse gas emissions by the middle of the century will cost 651 billion pounds ($904 billion), but the benefits of protecting the environment will be far greater. The government’s official impact assessment of a target to cut emissions by 78% by 2035 indicates that action will generate a ...

DUBAI / WAM Dubai Customs works hard to ensure all passengers visiting Dubai enjoy an incredible airport experience that can really enhance their journey. The Passenger Operations Department plays an essential role in ensuring a streamlined passenger flow and at the same time protecting the society from the hazards of illegitimate drugs and prohibited items. Figures released by Dubai Customs ...

ABU DHABI / WAM As part of its efforts to raise awareness about the Federal National Council (FNC) Elections, and in its capacity as the General Secretariat of the National Election Committee (NEC), the Ministry of State for Federal National Council Affairs (MFNCA) launched the ‘Electoral Process Journey’ digital initiative on its website, in a bid to promote a culture ...

Bloomberg Oil falls this week with spreading coronavirus cases in countries such as India tempering optimism around positive signs out of the US and Europe. Futures in New York rise the most in over a week, but were unable to reverse a 1.6% weekly loss as the market weighed a global economic reopening that’s coming in fits and starts. The ...

Sharjah / WAM The Sharjah Electricity, Water and Gas Authority (Sewa) announced the reduction of the completion rate required to submit the approval files for the electrical executive plans for the new buildings (shop drawing) to 60 percent instead of 75 percent. Electricity contractors can now submit the approval files for the operational plans according to the new percentage while ...

Dubai / WAM Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) revealed that RTA’s marine transport network would expand by 188 percent to span 158 kilometer, and the number of scheduled passenger lines would see a 400 percent upswing to 35 lines under a master plan running up to ...