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Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX), has signed a Memorandum of Understanding with the management consulting firm Sustainability Excellence. The MoU is aimed at deploying Environment, Social and Governance (ESG)-related initiatives that would enable ADX to promote ESG and sustainability values and practices among its listed issuers and investors as well as internally. Signing the MoU is ...

Dubai / WAM Khalifa Industrial Zone Abu Dhabi (Kizad) has launched an Entrepreneurship and Incubation Centre offering cost-effective work spaces, offices and licensing options to enhance the entrepreneurship and SME ecosystem in the UAE. Kizad, which is one of the largest industrial zones in the Middle East and a subsidiary of Abu Dhabi Ports, is situated within easy reach of ...

RAS AL KHAIMAH / WAM Customers in Sharjah, Ras Al Khaimah, Fujairah, Umm Al Qaiwain and Ajman will be able to choose to self serve free of charge or use the premium service for AED10 when they refuel their cars. Adnoc Distribution also said it will continue to offer four fuel products across its network, including the UAE’s lowest priced ...

Bloomberg China’s local governments may have accumulated 40 trillion yuan ($5.8 trillion) of off-balance sheet debt, or even more, suggesting further defaults are in store, according to S&P Global Ratings. “The potential amount of debt is an iceberg with titanic credit risks,” S&P credit analysts led by Gloria Lu wrote in a report on Tuesday. Much of the build-up relates ...

Bloomberg The number of foreign tourists to Japan dropped for the first time in more than five years during September, as an earthquake and typhoon brought a temporary halt to travel in some of the country’s top destinations. Tourist numbers fell 5.3 percent last month from a year earlier, according to the Japan National Tourism Organisation. That’s the first year-on-year ...

Bloomberg Hong Kong’s metro trains suffered delays due to a rare, simultaneous signaling glitch on four of its lines, causing chaos at stations and inconveniencing thousands of commuters during the morning peak-hour rush. The Asian financial hub’s rail operator, MTR Corp., said three major lines and a fourth one had to be operated manually early on Tuesday, slowing down trains ...

Bloomberg Singapore’s state investment firm, Temasek Holdings Pte, has held talks with Chinese authorities about acquiring a stake in Anbang Insurance Group Co. as well as some of its assets, according to people with knowledge of the matter. Temasek has been examining a potential deal for several months, the people said, asking not to be identified because the discussions are ...

Bloomberg A low inflation spell in an election year should be good news for any government, right? Wrong. For Prime Minister Narendra Modi, the subdued inflation numbers, due largely to low food prices, may present a budget problem. His government may have to shell out more to compensate farmers for low market prices of some crops under a plan announced ...

Bloomberg Volkswagen AG’s Audi unit agreed to pay an 800 million-euro ($926 million) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail. The penalty consists of the maximum fine of 5 million euros and the seizure of 795 million euros in profits the ...

Bloomberg Volvo AB slumped after uncovering a faulty component in the emissions-control setup of tru-cks widely sold in Europe and the US, the manufacturer’s biggest markets. The world’s second-largest truckmaker has started informing authorities about the issue, caused by materials from which a component is made degrading over time and potentially leading to the release of emissions exceeding limits. The ...