Bloomberg New Zealand central bank (RBNZ) Governor Adrian Orr signalled his intent to continue to loosen monetary policy as required, saying he’s determined to head off unnecessarily low inflation or even deflation. While persistently low interest rates could lead to undue risk-taking and pose financial stability risks, Orr said these were outweighed by the damage that stagnant or falling prices ...

Bloomberg Former European Central Bank (ECB) President Mario Draghi urged governments to channel stimulus funds toward sectors that can create new jobs for young people rather than spending money to defend the status quo. “Subsidies will have to go down but at the same time jobs will be created,” Draghi said at an online event. “It’s very good if the ...

Bloomberg European stocks extended gains with US equity futures as investors anticipated positive reports on jobs and the economy in Washington. The dollar headed for its best advance in eight sessions. All 19 industry groups pushed higher on the Stoxx Europe 600 Index, with chemicals and technology shares among the top gainers. Infrastructure giant Atlantia SpA jumped as much as ...

Bloomberg Tech stocks around the world are pushing all-time highs, spurring headline-grabbing listings by the dozen, yet in Europe the biggest news in the sector is a company looking to leave public markets. Startup factory Rocket Internet SE has brought at least nine initial public offerings (IPOs) to market over the past five years, but said it would be “better ...

ABU DHABI / WAM The UAE welcomed the signing on Tuesday of the Juba Peace Agreement between the Transitional Government of Sudan and armed movements. In a statement, the UAE Ministry of Foreign Affairs and International Cooperation re-affirmed the UAE’s continuous support for all efforts to enhance Sudan’s security, stability and prosperity in a way that realises the aspirations and ...

Bloomberg Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy. Shipping volumes are already back at levels that took more than a year to reach following the collapse of Lehman Brothers Holdings Inc., hinting at a V-shaped recovery, the institution’s President ...

Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) and Invest in Israel have opened discussions following a landmark meeting on Monday. The meeting took place virtually and set out a plan for establishing formal cooperation between the two organisations over the coming months. The organisations will explore mutually beneficial areas of collaboration to unlock investment and partnership opportunities ...

Abu Dhabi / WAM The UAE on Tuesday sent an aid plane carrying 5 metric tonnes of medical supplies and testing kits to Cambodia to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 5,000 medical professionals as they work to contain the virus. Commenting on aid delivery, Saif Abdullah Mohammed Al Shamsi, UAE ...

Dubai / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has announced an agreement with Emirates NBD to offer existing and new DMCC member companies the opportunity to spread out payments for DMCC services over multiple instalments using their credit cards at a 0% interest rate. The installment plan offers existing ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has valued the positive role played by the Palestinian community in the UAE’s development drive, reaffirming that the Emirates will continue to embrace and unswervingly support the Palestinians and their cause. This came in a speech delivered by HH Sheikh Abdullah ...