Bloomberg In the Federal Reserve’s quiet period before its officials meet to decide their final actions this year, Wall Street watchers are filling the void, loudly warning that next year’s outlook for the US economy and stocks is grim. From Goldman Sachs group’s David Solomon caution that the economy faces “bumpy times ahead,” to JPMorgan Chase & Co.’s Jamie ...

  Bloomberg Order has been restored to the world for bearish traders, with their favorite targets under pressure again after surging during the recent equity rally. Stocks with the heaviest short interest dropped 3.5%, more than double the losses in the S&P 500, going by thematic baskets compiled by Goldman Sachs In what may be a sign bears are reloading, ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) is accelerating operationalisation of its board mandated low carbon growth strategy, by establishing a new Low Carbon Solutions and International Growth vertical that will focus on renewable energy, clean hydrogen and carbon capture and storage, as well as international expansion in gas, liquefied natural gas (LNG) and chemicals. Musabbeh ...

  Abu Dhabi / WAM The UAE has welcomed the agreement of an initial political framework reached by Sudanese parties to complete the transitional period in a way that enhances the stability and prosperity of the Republic of Sudan. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed that the agreement is an essential step towards ...

Abu Dhabi / WAM AD Ports group on Tuesday announced the merger of Kezad Communities with Al Eskan Al Jamae LLC (EAJ) to create Abu Dhabi’s largest integrated staff accommodation company in which AD Ports group will retain a controlling majority stake. The combined entity will have an equity value of approximately AED7 billion, positioning it as one of the ...

  Dubai / WAM Dubai International Financial Centre (DIFC) on Tuesday announced that during the first nine months of 2022, the number of FinTech and innovation firms joining DIFC exceeded the total that established operations during the whole of 2021. Between January and September 2022, DIFC-based FinTech firms secured more than AED2 billion ($559 million) of funding, according to DIFC ...

  Geneva / WAM The global aviation sector is set to return to profitability next year for the first time since the coronavirus pandemic broke out in Europe at the beginning of 2020, the International Air Transport Association (IATA) reported in Geneva. In statement carried by Deutsche Presse-Agentur (dpa), the IATA estimated total profit at some $4.7 billion is expected ...

  Dubai / WAM In line with World Futures Day, the Ministry of Economy and the Government Development and the Future Office launched the “Future 100” initiative, aiming to support 100 startups in new sectors that will shape the future economy of the UAE. The initiative will annually highlight the top 100 startups that will promote the UAE’s readiness for ...

  Abu Dhabi / WAM Abu Dhabi Airports announced the official ground-breaking of Bombardier’s new service centre for business aircraft, which is targeted to open in 2025 at the Abu Dhabi International Airport (AUH), with the capacity to fit up to four Global 7500 aircraft. The development of the new Bombardier MRO at Abu Dhabi International Airport is one of ...

  Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has launched an automated system to complete employment contracts without human intervention. The smart system aligns with the National Artificial Intelligence Strategy 2031, which aims to position the UAE as a global leader in artificial intelligence (AI) by developing an integrated framework to be adopted in vital areas ...