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BLOOMBERG National Australia Bank (NAB) is planning to close its Hong Kong office and consolidate operations into mainland China, Singapore and Japan. The closure of the office will take place over the next 18 months, Krista Baetens, a Singapore-based NAB executive, said in a statement. The Australian Financial Review earlier reported the decision, saying the office houses about 50 staff ...

BLOOMBERG Laurentian Bank of Canada ended its strategic review without finding a buyer and plans to carry on as an independent firm with a slimmer management team. The company’s shares plunged. The Canadian bank announced in July it was examining its options. It hired JPMorgan Chase & Co to run the process and considered a number of possibilities, including a ...

BLOOMBERG Toyota Motor Corp’s quarterly profit exceeded estimates as improvements in supply of semiconductors and a weak yen helped it capitalise on a global rebound in demand for vehicles. The stock closed at a record high. Operating profit for the three months through June was a record ¥1.1 trillion ($7.7 billion), the world’s No 1 carmaker said in a statement. ...

BLOOMBERG BMW AG will invest in the 110-year-old plant where the Mini brand was born to make electric models, tapping the UK government for support in the fight to prop up the country’s flagging automaking industry. The company’s more than £600 million ($751 million) outlay averts what would have been a disaster for the UK, where car production slumped last ...

ABU DHABI / WAM HH Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, on Thursday met with Alexandre Zouev, Assistant Secretary-General for Rule of Law and Security Institutions at the United Nations. During the discussion held in Abu Dhabi, Sheikh Saif and the UN official explored various topics concerning bolstering cooperation in ...

DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has organised two training programmes in collaboration with the International Labour Organisation (ILO), designed to upskill MoHRE inspectors, providing them with the necessary abilities to perform their duties in line with the highest international quality standards. Organising the programmes, which were attended by 30 inspectors, forms part of a ...

SHARJAH / WAM The Emirates News Agency (WAM) today signed a memorandum of understanding (MoU) with the Brazilian TV SBT to strengthen and develop cooperation in news exchange. The MoU was signed on the sidelines of the International Government Communications Forum at Expo Centre Sharjah. The MoU was signed by Mohammed Jalal Al Rayssi, Director-General of WAM, and Roberto Franco, ...

DUBAI / WAM Emirates NBD has made an investment in Erguvan, a climate and financial technology venture aimed at providing financial institutions and corporations with digital infrastructure, enabling them to manage the impacts and risks of climate change. The investment was made via Deniz Ventures, an investment fund launched by DenizBank, Türkiye, under the umbrella of Emirates NBD Innovation Fund, ...

MUSCAT / WAM The delegation of the National Human Rights Institution (NHRI), headed by Maqsoud Kruse, participated in the “Human Rights Institutions Forum” held in Muscat, Oman, from September  12-13. The Oman Human Rights Commission organised the forum with the General Secretariat of the Gulf Cooperation Council (GCC). The forum witnessed the participation of representatives from the GCC, National Human ...

DUBAI / WAM Dubai Customs has earned ISO 30414 certification in human capital reporting standards. This achievement places it among the pioneering government bodies in Dubai to secure this prestigious certification, following a rigorous evaluation conducted by the International Organisation for Standardisation (ISO). The accolade was awarded based on a comprehensive audit and assessment of 59 key performance indicators within ...