Business from Wednesday, August 20th, 2025

The Central Bank of the United Arab Emirates (CBUAE) increased its gold reserves by 25.899 per cent during the first five months of the year to AED 28.933 billion at the end of May, up from AED 22.981 billion at the end of December 2024.

Italian fashion house Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Wednesday, adding he will take up the role at the start of September.

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will meet in New Delhi by the end of year, but no dates have been finalised yet, a Russian embassy official in India said on Wednesday.

India and China agreed on Tuesday to resume direct flights and step up trade and investment flows as the neighbours rebuild ties damaged by a 2020 border clash.