BLOOMBERG India’s inflation should abate in the coming months as policymakers are taking every possible step to cool down soaring prices, according to a top Finance Ministry official. “I am very confident that it is a temporary spike and will not sustain,” Finance Secretary TV Somanathan said in an interview in New Delhi. “Every instrument in the toolkit is being ...

BLOOMBERG Adani Group said cash and profit generated from its sprawling infrastructure business can cover all the debt maturing each year in the coming decade, as billionaire Gautam Adani tries to restore investor confidence days before India’s markets regulator is due to submit findings from a probe into the group’s alleged wrongdoings. In a credit report, the power-to-port conglomerate said ...

BLOOMBERG India will need to invest $12.7 trillion in its energy system, or more than three times its gross domestic product, to reach net zero emissions by mid-century and help the world avert disastrous planetary warming, according to BloombergNEF. Hitting that target early — ahead of India’s official goal of 2070, which lags the world’s largest economies — will require ...

BLOOMBERG Nasdaq futures rallied as a strong outlook from Nvidia Corp gave fresh impetus to the artificial intelligence (AI) hype that’s boosting tech stocks this year. Nvidia advanced 7.9% in premarket trading after the chipmaker delivered a third straight sales forecast that beat analysts’ estimates, while tech giants such as Apple Inc and Microsoft Corp also rose. Contracts on the ...

BLOOMBERG Chinese real estate stocks are close to losing all the gains notched during last year’s massive reopening rally as troubles mount for the debt-laden sector. A Bloomberg Intelligence gauge of real estate stocks trading on the mainland and in Hong Kong is less than 3% away from piercing below its end-October trough, which was the lowest since 2011. The ...

ABU DHABI / WAM In his capacity as the Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law regarding punitive and correctional establishments in Abu Dhabi. The law shall transfer the responsibility of managing punitive and correctional establishments, as well as juvenile facilities in Abu Dhabi, from Abu Dhabi ...

HONG KONG / WAM Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP), has revealed the corporation’s plans to expand its operations and attract more companies from the UAE and the Middle East to explore business opportunities in Hong Kong. Hong Kong is building a green tech and green finance hub, with HKSTP set to host a ...

CAIRO / WAM Jamal Jaballah, Former Plenipotentiary Minister of the Arab League and Former Coordinator of the Arab Negotiating Group on Climate Change, said the UAE’s hosting of COP28 is a source of honour for every Arab, as it is one of the world’s largest gatherings. In his statement to the Emirates News Agency (WAM), Jaballah lauded the UAE’s pivotal ...

DUBAI / WAM National Bonds, the savings and investment company, said that 82 percent of employees in the UAE are open to employers investing in their end-of-service benefits. This insight strongly aligns with National Bonds’ strategic objective of introducing new saving solutions that cater to different segments of the population. In line with the growing demand for such solutions, and ...

DUBAI / WAM The Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show (DSS) is a platform that sheds light on the sustainable circular economy in the UAE. It encourages global partnerships and investments to support innovation and adopt sustainable solutions and technologies in this field. This contributes to reducing risks, greenhouse gas emissions and costs. It also ...