Chinese banks see rebound in retail lending business
The Bank of Communications recorded a slump in 6.9% Q3 net profit to 16.2 bn
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Norway’s Johan Sverdrup to ramp up Q4 oil production
The government cancelled plans to reduce crude oil production 250,000 bpd in June
UAE ranks first among the wealthiest Middle Eastern economies with 12 billionaires
According to Knight Frank, the Emirates has 1,681 UHNWIs with a wealth of over $30 mn
Telos’ new gig economy platform applies blockchain
The platform will bridge the gap between task givers and gig workers, assisting them in coordinating the completion of micro and macro gigs
Danish turbine manufacturer Vestas sees $832 mn deal with MHI
The deal between both companies will include MHI’s acquisition of a 2.5 percent stake in Vestas
Adnoc, India to deepen energy ties with more crude oil storage in Indian reserves
Adnoc is currently storing crude at two of India’s strategic reserves at Padur and Mangalore
China will underpins its economic growth over the next five years
The country seeks to ramp up its per person GDP in line with moderately developed countries by 2035
Telecom Egypt to migrate its international gateway; signs deal with Ericsson
Ericsson will migrate Telecom Egypt’s international gateway by deploying Ericsson’s Network Functions Virtualization Infrastructure
Meiji Yasuda Life Insurance to trim down holdings in foreign bond investments
Majority of the efforts will take place in the insurer’s US dollar-denominated assets
Dubai’s housing market takes a V-shaped recovery with surging demand
Dubai’s official sales price index DLD recorded an overall value of 1.095 in July