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Bloomberg China’s financial regulator said it will implement a series of measures to shore up the nation’s troubled smaller banks and insurers while continuing a clampdown on shadow financing and property speculation. The regulator will introduce measures to eliminate bad loans and promote mergers, capital injections and the restructuring of high risk institutions, the China Banking and Insurance Regulatory Commission ...

Emirates Business His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has been voted the most prominent Arab leader 2019 in a readers’ poll conducted by Russia Today TV (RT). According to the Russian state TV, 9.74 million out of total 14 million respondents chose Sheikh Mohamed ...

Bloomberg A trade deal between the US and Japan that cuts tariffs on some agricultural products and industrial goods took effect on Wednesday, with little indication the two sides would meet a pledge to soon start a new round of talks broadening the pact. Under the deal, Japan reduced tariffs on beef and additional US agricultural products to the same ...

MUKALLA / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 35,144 food parcels weighing 2,840 tonnes to the residents of Hadramaut Governorate during the Year of Tolerance 2019, benefitting 175,720 people who are members of vulnerable Yemeni families. At the end of Year of Tolerance, ERC distributed 100 food parcels weighing eight tonnes, which targeted ...

Dubai / WAM The UAE Nation Brand hit a record of 10.6 million votes from 185 countries as the campaign drew to a close to announce the logo that will represent the UAE and lead the country’s inspiring story towards the next 50 years. Voters have contributed to planting 10 million trees to empower communities in areas affected by climate ...

Bloomberg Oil in New York capped its biggest annual increase since 2016, as Opec’s production cuts tempered supplies while a trade pact between the US and China buoyed the outlook for demand. West Texas Intermediate futures fell 1% yet climbed 34% this year as Opec and its allies cut production and a trade deal between Washington and Beijing neared. With ...

Bloomberg China’s central bank will increase the supply of cheap funding to banks by cutting the amount of cash they need to hold as reserves, a move aimed at putting a floor under economic growth in 2020. The required reserve ratio for commercial lenders will be lowered by 50 basis points from January 6, unleashing about 800 billion yuan ($115 ...

DUBAI / WAM The Dubai’s Roads and Transport Authority (RTA), announced that number of riders of mass transportation during New Year’s celebration reached 2,126,417, showing an increase of 3.6 percent of the total number of commuters for the same period last year. 907,411 riders used Dubai metro in its Red and Green lines, while the tram transported 37,150 riders. The ...

Dubai / Emirates Business More than half (55%) of parents don’t know the legal requirements for child seat belt use in the UAE, according to new survey. Whilst 91 percent of parents said they require children to wear a seatbelt in the car, the research, conducted by Infiniti Middle East, showed conflicting opinions on the age when the safety practice ...

Dubai / WAM The Dubai’s Roads and Transport Authority (RTA), has announced that the number of riders of mass transportation during the New Year’s celebration reached 2,126,417, showing an increase of 3.6 percent of the total number of commuters for the same period last year. 907,411 riders used Dubai metro in its Red and Green lines, while the tram transported 37,150 ...