DUBAI/RIYADH: A Saudi court has approved an application by detained and indebted billionaire Maan Al Sanea and his company, Saad, to have their case resolved through the kingdom’s new bankruptcy law, the company’s financial adviser and two sources familiar with the matter told Reuters. The ruling in February could provide a resolution to one of […]
Tokyo: It has taken more than a century, but Japanese banks are finally parting ways with a piece of technology that hasn’t felt cutting edge since the shogun reigned. Hanko, the personal stamps required for even simple transactions in Japan since the 1800s, are getting phased out at some of the country’s biggest financial institutions. […]
Jakarta. Bank Indonesia will conduct regular open market operations of repo and foreign exchange swap auctions three times per week to boost rupiah liquidity in the banking system, the central bank said in a statement, The publication of a fixed auction schedule for the next six months is expected to increase certainty for lenders in […]
ABU DHABI The Ministry of Economy will visit Uzbekistan and Kyrgyzstan to hold joint economic committees with both countries. The delegation, headed by Sultan Bin Saeed Al Mansouri, Minister of Economy, will include a number of senior officials from the ministries and other federal entities and local government bodies, as well as a number of […]
Dubai Three months into the year, the UAE’s construction sector is having a much smoother ride … and it’s not just related to the pickup in activity related to the Expo 2020 works. Instead, it is the relative price stability on building materials that is offering the much needed respite. One only needs to look […]
BEIJING: Beijing is hopeful about its next round of trade talks with the US, China’s vice-minister for commerce said Saturday, after revealing that top negotiators had tried to hammer out a deal over burgers and eggplant chicken. China and the United States have been locked in a bruising trade war since last year, imposing tit-for-tat […]
Head of Dubai’s transport authority hails progress on extension of the Red Line of Dubai Metro to the Expo 2020 site
South Asian nation received $1bn in January in first tranche of agreement between the Abu Dhabi Fund for Development and the State Bank of Pakistan
BEIJING China’s exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy and stirring talk of a “trade recession”, despite a spate of support measures. While seasonal factors may have been at play, the shockingly weak readings from the world’s […]
The five-member gang wielded cleavers.