Bloomberg Uruguay’s central bank increased its benchmark interest rate to 9.25% and signalled borrowing costs will keep rising as monetary policy turns contractive to fight inflation. Policy makers raised the key rate by three quarters of a percentage point, and forecast at least two more increases of half a percentage point at its next meetings. The move came on ...

  Bloomberg Banco Santander SA has begun the search for a successor to Chief Executive Officer (CEO) Jose Antonio Alvarez, the bank veteran who stayed on in the top position after the botched appointment of ex-UBS Group AG banker Andrea Orcel. Santander Chairman Ana Botin and the board are seeking internal and external candidates after Alvarez — who has been in ...

Bloomberg Chinese stocks closed lower after rallying in the previous session as traders assessed fresh support pledges from Vice Premier Liu He for the battered tech sector. The Hang Seng Tech Index pared earlier declines to end 0.3% lower in Hong Kong. The benchmark Hang Seng Index eked out gains, while China’s CSI 300 Index trimmed losses to 0.4%. Automakers ...

  Bloomberg Stocks in Europe struggled to build on a three-day rally as traders assessed hawkish comments from Federal Reserve Chair Jerome Powell and the latest data on inflation and economic activity. The Stoxx Europe 600 index edged lower, with ABN Amro slumping almost 10% after the Dutch lender reported first-quarter results burdened by rising costs. The energy sector outperformed ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia, after he was discharged from King Faisal Specialist Hospital in Jeddah following successful medical tests. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President ...

  Abu Dhabi / WAM International Holding Company (IHC) announced on Tuesday the completion of an AED7.3 billion ($2 billion) investment transaction in the Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL). IHC has provided capital to Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the ...

Geneva / WAM A worldwide improvement in students’ capacity for problem-solving to the average level of today’s top 10 scoring countries could add an additional $2.54 trillion to the global economy, World Economic Forum (WEF) said in its latest report. The compound effects of the pandemic, pre-existing inequalities, and the rapid technological change of the Fourth Industrial Revolution (4IR), mean ...

  Erbil / WAM dnata, a leading global air and travel services provider, has announced a significant expansion of its operations in Erbil, Iraq. The company opened a new, advanced cool chain facility and a bus maintenance facility for its state-of-the-art bussing fleets at Erbil International Airport (EBL), which together represent a total investment of $3.5 million. dnata has also ...

  DUBAI / WAM Yalla Group Limited, the UAE-based leading voice-centric social networking and entertainment platform in the Middle East and North Africa (Mena), on Tuesday announced its financial results for the first quarter of the fiscal year 2022, recording AED 265.7 million in revenues. According to Yalla Group’s latest financial results, the GAAP and non-GAAP net margins during the ...

Abu Dhabi / WAM The President of the Maldives has congratulated His Highness Sheikh Mohamed bin Zayed Al Nahyan as the new President of the UAE, saying HH Sheikh Mohamed is a beacon of hope. In an exclusive interview with the Emirates News Agency (WAM), Ibrahim Mohamed Solih, President of the Maldives, said,”His Highness Sheikh Mohamed’s strong statesmanship and his ...