DMCC forms alliance with China Gems and Jade Exchange

Dubai: The Dubai Multi Commodities Centre (DMCC) announced today that it has signed a Memorandum of Understanding (MoU) with the China Gems and Jade Exchange (CGJE), creating a strategic alliance with China’s official trading platform for gemstones and jade. Feryal Ahmadi, DMCC chief operating officer, and Yuk Chan, co-founder and executive vice-president of the CGJE, […]

UK lawmakers square up to regulator over duty of care for banks

LONDON: A legal duty for banks to act in the best interests of their customers may be needed, British lawmakers said on Monday, piling pressure on regulators to step up protection of consumers after a string of mis-selling scandals spanning decades. British lenders have paid more than 30 billion pounds ($39.03 billion) since 2007 in […]

Drake & Scull puts off naming new chairman

Dubai: Drake & Scull International has postponed the naming of a chairman, after a decision taken by the board of directors’ meeting late on Monday. The earlier plan was to fill up that position on Monday itself. On May 7, the former chairman, Obaid Bin Touq, had submitted his resignation. Now, the engineering services firm, […]

US readies new tariffs against China

Washington: The US prepared to hit China with new tariffs even as President Donald Trump said he’ll meet his Chinese counterpart, Xi Jinping, at next month’s G-20 summit, an encounter that could prove pivotal in a deepening clash over trade. The US Trade Representative’s office Monday released a list of about $300 billion (Dh1.10 trillion) […]