UAE passes draft law on securing movable assets

Abu Dhabi: The UAE has passed a draft law on securing movable assets, which will now apply to tangible and intangible assets. The scope of the law also extends to existing and future assets as well. The law covers rights to claim payments on funds deposited with financial institutions and the right to enforce obligations […]

Coronavirus: China sets no annual growth target for first time in years

Beijing: China took the rare move of not setting an annual growth target this year after the coronavirus battered the world’s second-largest economy and ravaged global growth, Premier Li Keqiang said Friday. Instead, given “great uncertainty” caused by the COVID-19 pandemic, Beijing will “give priority to stabilising employment and ensuring living standards”, he said at […]

India’s Mukesh Ambani nets $10b in weeks

Mumbai: Indian billionaire Mukesh Ambani extended a fund-raising streak in the digital platform business he leads, adding a 113.7 billion rupee ($1.5 billion) investment by KKR & Co. to help his Reliance Industries Ltd. conglomerate pay down debt. The deal gives the New York-based private equity fund 2.32 per cent in Reliance’s Jio Platforms Ltd., […]