Bloomberg Hurricane Ida and the freakish winter storm that froze Texas last February topped last year’s list of most damaging storms, according to the annual report on insurance industry losses caused by natural catastrophes put out by reinsurance giant Swiss Re. The report found that global economic losses from natural catastrophes such as floods, hurricanes and wildfires reached $270 ...

  Bloomberg Stocks fall and energy prices rose as skepticism about Russia’s promise to de-escalate the war in Ukraine renewed concerns about higher raw material prices and commodity disruption. Europe’s Stoxx 600 snapped a three-day winning streak after surging to the highest level in five weeks. US futures slipped amid warnings that gains of the past two weeks have the ...

Bloomberg Apple Inc extended gains, in a winning-streak last seen nearly two decades ago, as improved risk sentiment is sending investors back to the largest US technology companies. Apple rises for an 11th-consecutive day in New York, climbing 1.9% to close at $178.96 and roughly $3 shy of a closing record reached in early January. The longest-winning streak since 2003 ...

  Abu Dhabi / WAM Ahmed Al Kaabi, UAE Governor to the Organisation of Petroleum Exporting Countries (Opec), said the UAE is continuing to perform its key role in maintaining the stability of world oil markets. In his statement to the Emirates News Agency (WAM), Al Kaabi added the UAE is an active member of Opec, noting it assumed the ...

  Abu Dhabi / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has partnered with AirCarbon Exchange (ACX) to create the world’s first fully regulated carbon trading exchange and carbon clearing house which will be established in Abu Dhabi, the capital of the UAE. Pursuant to its recently released consultation paper, ADGM is set to ...

  DUBAI / WAM Rumina Velshi, President and CEO of the Canadian Nuclear Safety Commission (CNSC), said the UAE Peaceful Nuclear Energy Programme is an inspiring global example. In her exclusive statement to WAM, Velshi said she visited the Barakah Nuclear Power Plant two years ago and witnessed the success story of the programme, which she described as an unprecedented ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) and FTSE Russell have partnered to develop the FTSE ADX 15 Index, a benchmark blue chip measure that will support ADX’s recently launched derivatives market and the creation of ETFs and other index-tracking investment vehicles. Also known as the FADX 15, the benchmark index will be launched on March ...

  ABU DHABI / WAM The UAE is fast-tracking low-carbon economic growth to deliver new jobs, new industries and new revenue streams, according to Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Special Envoy for Climate Change. Speaking at the Middle East and North Africa Climate Week, Dr Al Jaber explained that the UAE is ...

  DAR ES SALAAM / WAM DP World on Tuesday announced the launch of its wholesale e-commerce platform DUBUY.com in Tanzania. The online marketplace will give Tanzanian businesses better access to international markets. It will also provide a more secure and reliable supply chain, through DP World’s worldwide ports and logistics network. The new platform enables Tanzanian businesses to buy ...

  DUBAI / WAM Abdullah bin Touq Al Marri, Minister of Economy, met with Larry Fink, CEO of BlackRock, a leading global asset management company, to discuss ways of boosting their investments in various economic sectors. The meeting took place during the Investopia Investment Summit, on the sidelines of the World Government Summit 2022. Al Marri highlighted the summit’s key ...