April 16, 2021
  • April 16, 2021

China’s economy grows 18.3%, biggest GDP jump since 1992

by on April 16, 2021 0

China’s economy grew a record 18.3 percent in the first quarter of 2021 compared with -6.8 percent decline in the first quarter of last year. It’s the biggest jump in the Gross Domestic Product (GDP) since China started keeping quarterly records in 1992. However, Friday’s figures are below expectations, with a Reuters poll of...

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Shell to produce 75% of oil, gas reserves by 2030

by on April 15, 2021 0

Royal Dutch Shell said on Thursday that the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades. The disclosure is a rare admission by a major oil and gas company that...

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New wave of covid-19, limited access to Vaccines may derail Sub-Saharan African recovery~IMF

by on April 15, 2021 0

New waves of Covid-19 infections could derail the economic recovery in sub-Saharan Africa, which is already forecast to lag the rest of the world this year amid limited access to vaccines, the International Monetary Fund (IMF) warned. In its regional economic outlook released on Thursday, the IMF said growth projections are subject to “greater-than-usual...

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UAE adopts guidelines to combat money laundering

by on April 14, 2021 0

The United Aran Emirate (UAE’s) National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations (NAMLCFTC) adopted anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines for financial institutions, designated non-financial businesses and professions, at its meeting Tuesday. The Committee approved six-risk assessment reports related to terrorism financing, trade-based money...

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Dubai Islamic Bank raises $500 mln in perpetual Sukuk

by on April 14, 2021 0

…Profit rate comes at 3.375% Dubai Islamic Bank, the UAE’s largest Islamic lender, on Wednesday, sold $500 million in perpetual non-call 5.5 years additional Tier 1 Sukuk with a profit rate of 3.375 percent per annum. In a statement, the bank said despite the record low yield, the Sukuk was 5.6x oversubscribed with an...

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