Bloomberg Bank of America Corp (BofA) has made a number of changes to the leadership of its natural resources unit in Europe and North America. The bank has named Maria Garijo del Cura and James Sleeman co-heads of Europe, Middle East and Africa natural resources investment banking, based in London, according to an internal memo from Ray Wood, the bank’s ...

Bloomberg Nigeria’s government is in talks with Standard Chartered Plc (StanChart) about arranging funding for two rail projects expected to cost as much as $14.4 billion, replacing earlier plans to source the loans from Chinese banks, Transport Minister Rotimi Amaechi said. President Muhammadu Buhari’s administration and the London-based lender are discussing financing for the upgrade of a narrow-gauge track in ...

Bloomberg Some European Central Bank (ECB) officials issued warnings about higher rates of inflation, just a day after agreeing to keep monetary stimulus flowing at an accelerated pace through the summer. Austrian Governor Robert Holzmann went so far as to say that if euro-area price growth exceeds 3%, then policy makers would need to consider acting. He said the possibility ...

Bloomberg Treasuries climbed Tuesday while US equity futures were little changed, with markets appearing unruffled ahead of a key Federal Reserve meeting. Contracts on the S&P 500 index pared an early gain after the underlying gauge hit another record. European equities were led higher by chemical firms, while Asian stocks were mixed. The 10-year Treasury yield pulled back under 1.5%, ...

Bloomberg China Evergrande Group fall after Caixin’s WeNews reported that a local government discussed paring the property giant’s stake in a regional lender and a new policy could curb a key source of financing for developers. Authorities in the northeastern Liaoning province held discussions with Evergrande to inject state capital into Shengjing Bank Co to dilute Evergrande’s stake, according to ...

Bloomberg The world’s top makers of Covid-19 vaccines dropped after tests of Novavax Inc.’s shots showed they were 90% effective at preventing symptoms. Stocks tied to inoculations already cleared for emergency use fall in trading, led by Moderna Inc closed down 5.2% after dropping 9.5% intraday. Pfizer Inc. fell 1.3% and the drugmaker’s German partner BioNTech SE dropped 7.5%. Consumer ...

Dubai / WAM The 100 Million Meals campaign, the biggest food drive in the region, announced that it entered into a partnership with the UAE Food Bank to distribute 10 million meals inside the country. In April, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched ‘100 ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) listed 1 billion euros of bonds issued by Emirates Telecommunications Group Company (Etisalat) in two equal tranches maturing in 2028 and 2033. The bonds were more than six times over-subscribed. Etisalat Group’s 500 million euro 7-year notes mature on May 17, 2028 and carry a 0.375 percent coupon, while the 12-year ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has ordered an aid flight to transport much needed aid to volcano-hit Goma in Democratic Republic of the Congo on the request of the humanitarian community. An aid flight chartered by the International Humanitarian City (IHC) left Dubai ...

DUBAI / WAM Fitch Solutions, the content partners of Arab Health 2021, estimated that the UAE’s medical device market will reach AED5.6 billion by 2025, with an annual compound growth rate (CAGR) of 4.4 percent from 2020-2025. According to the Q2 2021 Fitch Solutions United Arab Emirates Medical Device report, the market will benefit from an overall strong economic performance ...