Recent News

UAE President receives a phone call from Chairman of the Transitional Sovereignty Council of Republic of Sudan

ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Friday received a phone call from Lieutenant General Abdel Fattah Al-Burhan, Chairman of the Transitional Sovereignty Council of the Republic of Sudan. During the call, His Highness and the Chairman of the Transitional Sovereignty Council discussed relations between the two countries and their peoples, in addition to ...

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In celebration of historic signing of declaration of the Union and UAE Constitution, UAE President announces 18 July as ‘Union Pledge Day’

ABU DHABI/WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has declared 18th July as “Union Pledge Day”. This is in celebration of the historic meeting held on this day in 1971, when the country’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, and his brothers, the Rulers, signed the declaration of the Union and the ...

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Mashreq Bank allocates additional AED1 billion in financing for industrial companies

ABU DHABI/WAM Mashreq Bank has allocated an additional AED1 billion in financing solutions to enhance the country’s industrial sector’s growth and support its competitiveness and productivity. This aligns with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300Bn. This new step stimulates industrial companies in the country by enabling them with additional financing solutions under the ...

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Nasdaq futures sink earnings from tech giants fell short of expectations

BLOOMBERG US equity futures slumped after earnings from tech giants fell short of Wall Street’s high expectations and as investors prepared for the first interest-rate decision of the year from the Federal Reserve. Contracts on the Nasdaq 100 slid 1.2%, while those on the S&P 500 retreated 0.5%. Microsoft Corp, Alphabet Inc and Advanced Micro Devices Inc dropped in premarket ...

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Stocks muted before major earnings test for Wall Street

BLOOMBERG European stocks and US futures kept to small ranges as investors looked forward to a rush of major earnings for insights on whether the record-breaking rally on Wall Street can continue. Europe’s Stoxx 600 crept to a new two-year high as media and travel and leisure stocks led gains. US equity futures were steady after another record close on ...

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Stocks make cautious start as investors look for rate updates

BLOOMBERG Markets opened the week on a cautious note as investors readied for central bank updates on the outlook for interest rates and braced for a deluge of earnings. Oil prices rose amid escalated tensions. Europe’s Stoxx 600 index held near the highest level since January 2022, supported by rallying energy shares. Futures contracts for the S&P 500 and the ...

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Beijing tightens securities lending rule to support stock market

BLOOMBERG China will halt the lending of certain shares for short selling from Monday, the securities regulator announced, in a move to support the country’s slumping stock markets. Strategic investors won’t be allowed to lend out shares during agreed lock-up periods, the Shanghai Stock Exchange and Shenzhen Stock Exchange said in separate releases following the China Securities Regulatory Commission’s statement. ...

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Global stocks stall after latest results subdue buoyant mood

BLOOMBERG Global stocks took a breather on Thursday after recent sharp gains as investors processed the latest earnings news and looked forward to a meeting of the European Central Bank (ECB) and economic growth data from the US. Europe’s Stoxx 600 index slipped and the blue-chip Euro Stoxx 50 traded flat after soaring to a 23-year high. Chipmaker STMicroelectronics NV ...

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