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The Abu Dhabi Investment Authority (ADIA) sovereign wealth fund has purchased 1.2% stake in India’s Reliance Retail Ventures for $750 million or 4.29 trillion rupees. With this latest investment, Reliance Retail Ventures Ltd. (RRVL) has raised 377.1 billion rupees from global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG and ADIA in less than […]
The Kingdom of Saudi to increase VAT discontinue the value of living allowance and increasing VAT to fifteen percent from 5 percent to combat the consequences of the pandemic, media reports said. The dominion has increased VAT threefold to spice up state finances. The cost of living allowance within the Kingdom is going to be suspended […]
RIYADH (Reuters) – Saudi Arabia To Raise to triple its price delivered rate and suspend a fee of dwelling allowance for state employees, the kingdom’s minister of finance said on Monday, trying to find to hold up finances hit tough through low oil expenses and a coronavirus-pushed slowdown. “The value of allowance can also be […]
During the April-June quarter, the US Treasury Borrows 3 trillion in privately-held net marketable debt, assuming an end-of-June cash balance of USD 800 billion, said Mr.Trump. The increase in privately-held net marketable borrowing is primarily driven by the impact of the COVID-19 outbreak, including expenditures from new legislation to assist individuals and businesses and changes […]
Boeing will be eligible for a $ 500 million distribution by Treasury Minister.
China in a significant move launches a trial of digital yuan in four urban centres of the country for specific services even as the world grapples with containment of Covid. In recent months, China’s bank has stepped up its development of the e-RMB, which is set to be the first digital currency company operated by […]
Qatar Airways is in talks to acquire a 49% stake in state-owned RwandAir and is “keen to invest” in Indian low-cost carrier IndiGo when the time is right, the Gulf carrier’s chief executive Akbar Al Baker disclosed today. During an appearance at the CAPA Qatar Aviation Aeropolitical and Regulatory Summit in Doha, livestreamed via Qatar […]
OPay, the startup behind one of Nigeria’s leading mobile payments services, has raised $120 million in a Series B funding round joined by a host of Chinese investors. The round – which comes on the heels of a $50 million round in June – was joined by Meituan-Dianping, DragonBall Capital, GaoRong Capital, Source Code Capital, […]
Facebook is taking on Venmo, Apple Pay and others with a consolidated payments service that works across its main app, Messenger, Instagram and WhatsApp. People have been able to make purchases and send money to each other through Facebook’s various apps for some time but the new Facebook Pay service promises to make the experience […]
JPMorgan Chase has moved to bolster its valuable wholesale payments business by building an e-wallet that lets e-commerce and gig economy firms such as Amazon and Airbnb offer their customers virtual bank accounts. With technology giants increasingly moving in on banks’ turf, JPMorgan Chase has decided that its best option is to help them do […]
Australia’s flag carrier Qantas completed on Sunday a non-stop test flight from New York to Sydney, researching how the world’s longest potential commercial airplane journey of nearly 20 hours would impact pilots, crew and passengers. Carrying 50 passengers and crew on board, Qantas Flight 7879 on a new Boeing 787-9 Dreamliner touched down in Sydney […]
Dubai is all set to reap the benefits of six-month long Expo 2020 as the countdown for the mega event starts today. The emirate is expected to grow over 4 per cent in the next one year as economic activity gains momentum, which will benefit the construction, interior fit-outs, banking, hospitality, aviation, event management and […]
