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Bloomberg Ping An Insurance (Group) Co’s financial technology unit is considering an application for one of Singapore’s new digital banking licenses, according to a person familiar with the matter. OneConnect is looking to secure a wholesale license which would allow it to provide banking services to small and medium-sized businesses on the island, said the person, who requested anonymity because ...

Bloomberg Sugarfina Inc, the chain of luxury candy shops backed by some of the biggest names in banking and entertainment, filed for Chapter 11 bankruptcy protection as mall-based stores struggle to compete. Posh candies like Champagne gummy bears for $8.50 and bourbon-and-toffee chocolate bars at $9.50 are part of Sugarfina’s lineup. The company listed assets and liabilities of up to ...

Bloomberg The slide in Indian bonds last month on concern about potential monetary stimulus has one bond veteran smelling an opportunity. The government’s scope to deliver a big package to revive the economy is limited despite the $24 billion windfall from the central bank, while the prospect of additional interest-rate cuts will drive yields lower, Neeraj Gambhir, president and head ...

Bloomberg Half of Britons say that the UK’s departure from the European Union has pushed up their expectations for price growth, a Bank of England (BOE) survey showed. Inflation expectations for the coming year stood at 3.3 percent in August, the BOE said, the highest since 2013 and up from 3.1 percent in May. Consumers are slightly more optimistic about ...

Bloomberg A prolonged shadow-banking crisis and hurdles in bankruptcy rules are set to keep India atop the world’s worst bad-debt pile, even as Italy, which held the title previously, quickens the clean-up of its lenders. Moody’s Investors Service to Credit Suisse Group AG warned that more loans may sour in the Asian nation’s banking system. More than 2.4 percent of ...

Abu Dhabi / WAM The Khalifa bin Zayed Foundation will distribute humanitarian relief and food assistance to around 30,000 Sudanese families affected by torrential rains and flash floods that swept Sudan in early August, a foundation source has announced. The source said a field relief team of the foundation had held a series of meetings with Dr. Mohmmed Fadhlallah, Deputy ...

Bloomberg Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook. Futures in New York rose 0.4% on September 6, erasing earlier losses. Powell said the most likely outlook for the US and world economy ...

SHARJAH / WAM Rashid Al Leem, Chairman of Sharjah Electricity and Water Authority (Sewa), received Marianne Nissila, Ambassador of Finland to the UAE, and a number of officials to brief them on Sewa’s innovative initiatives in the fields of energy efficiency and environmental preservation, provision of ideal working environment for employees. They discussed ways of cooperation in the fields of ...

Abu Dhabi / Emirates Business With one month left until the grand opening of second edition of Abu Dhabi International Boat Show (ADIBS 2019), the event has attracted several prestigious exhibitors, sponsors and partners from the UAE and across the globe. Set to run from October 16-19 the highly anticipated exhibition will showcase the latest trends in leisure marine from ...

Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) conducted two simultaneous awareness and inspection campaigns to verify compliance with the ‘Marking Tobacco and Tobacco Products Scheme’ in the first month since the ban on selling cigarettes not bearing the Digital Tax Stamps in local markets went into effect. The Stamps placed on cigarettes allow for tracking the products ...