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Bloomberg European Central Bank (ECB) supervisors have asked banks for details about outstanding loans to Greensill Capital and its client GFG Alliance, the Financial Times reported. Regulators are asking for the details as they try to determine whether the crisis is contained, report said. One person told the FT that the move was standard and did not reflect heightened concern. ...

Bloomberg China’s main stock benchmark entered a correction on Monday, on concerns about liquidity conditions and lofty valuations in some of the recently favoured stocks. The CSI 300 Index falls 3.5% on Monday, piercing through its 100-day moving average and putting losses from its recent February 10 peak to 13%. Meanwhile, the nation’s ChiNext index, a gauge of small-cap stocks, ...

Bloomberg The Nasdaq 100 Index extend losses, with futures falling as much as 2% in early European trading. Oil climbed after Saudi Arabia said the world’s largest crude terminal was attacked. Rising bond yields continue to dominate investor attention and fan concerns about lofty tech valuations. The global picture in equities was mixed on Monday, with losses in S&P 500 ...

Abu Dhabi / WAM The Federal Competitiveness and Statistics Centre revealed its recent statistics about women in the UAE, highlighting the fact that Emirati women account for 33.7% of the population. The report included several statistics underscoring the country’s leadership in women’s empowerment, and noting that the recent UAE cabinet reshuffle included 33 ministers, nine of whom are women, and ...

ABU DHABI / WAM Abu Dhabi-based strategic investment company International Holding Company (IHC) reported a net profit of AED 3 billion for 2020, a six-fold, year-on-year increase, driven by a series of acquisitions as well as organic growth across its diversified portfolio. In its fully audited financial statements for the full year 2020, published on 4th March 2021, the Company ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, has extended its Covid-19 global wellness insurance cover until September 30, 2021. Martin Drew, Senior Vice President Sales & Cargo, Etihad Airways, said: “Extending Etihad’s Covid-19 global wellness insurance reinforces the effectiveness of Etihad Wellness, the airline’s health and hygiene programme. It’s an added benefit ...

ABU DHABI / WAM The UAE has strongly condemned the Iranian-backed terrorist Houthi militias’ systematic attempts to target civilians and civilian structures in Khamis Mushait, Saudi Arabia, with four “booby-trapped” drones, which were intercepted by the Coalition Forces. In a statement by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the UAE said that the continued threat of these ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has clarified in a bulletin that services provided by artists and social media influencers (SMIs) for consideration are subject to Value Added Tax (VAT). The bulletin outlines that VAT applies to such services provided by artists and social media influencers that include, but are not limited to, any online promotional activities ...

Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) on Sunday convened a number of the UAE’s pharmaceutical and medical industry companies in the fourth session of its ‘Future of Industry Dialogue’ series to discuss ways in which the ministry can drive strong growth of the sector in a post Covid-19 economy. Led by Dr Sultan Al ...

Dubai / WAM There is vast potential for the UAE and Kazakhstan to expand business ties in key sectors and areas of mutual interest, such as food security, agriculture and digitalisation of economic sectors, according to government officials and trade experts who spoke at the latest Global Partnership Series event. The virtual forum, organised by the Dubai Chamber of Commerce ...