News

  Abu Dhabi / Gulf Time Klickl is the latest global virtual asset service provider to receive the in-principle approval (IPA) of the Financial Services Permission (FSP) from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer and to provide custody in the digital asset place. “We are excited that Klickl obtained an IPA from ADGM and will soon ...

  Abu Dhabi / WAM The UAE has strongly condemned the terrorist attack that targeted a convoy of vehicles in the Hiran region in central Somalia, which resulted in the death and injury of dozens of people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed that the UAE expressed its strong condemnation of these criminal ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB) on Monday announced its partnership with Silver Birch Finance Limited to offer inventory solutions to their local and international clients. Silver Birch, headquartered in the UK, is a specialist working capital structuring, advisory and execution firm that supports financial institutions by enabling them to offer corporate clients non-debt solutions to ...

Bloomberg German Chancellor Olaf Scholz’s coalition agreed on a relief plan worth about 65 billion euros ($65 billion) to help millions of households struggling with soaring prices amid Europe’s harshest energy crunch in decades. Key measures include a vow to cap — and even redistribute — huge profits made by energy companies on the back of the current crisis; increased ...

  Bloomberg US employers added a healthy number of jobs in August and a steady stream of people entering the workforce lifted the unemployment rate, suggesting some easing in the tight labor market and offering mixed implications for the Federal Reserve. Nonfarm payrolls increased 315,000 last month following a revised 526,000 advance in July, a Labor Department report showed. The ...

  Bloomberg Toronto home prices fall for a fifth straight month, the longest skid since 2017, as the property market adjusts to sharply higher interest rates from the Bank of Canada. The benchmark price for a home in Canada’s largest city dropped 2.8% in August compared with the month before to reach C$1.12 million ($854,000), according to data by the ...

  Bloomberg The Parler social media platform returned to the Google Play app store after a suspension for violating its policies in January 2021 following the US Capitol insurrection. Parler has agreed to modify its app to moderate content and remove posts that incite violence, Google said in a statement.

  Bloomberg Rolex raised prices for its watches in the UK after the value of the pound fell against the US dollar to near the lowest level in more than three decades. The largest Swiss luxury watch brand increased the price of its watches sold in Britain by an average of 5%, a company spokesperson confirmed. The price hike, first ...

  Dubai / WAM The World Government Summit (WGS) Organisation and the World Health Organisation (WHO), during a meeting held in Geneva, Switzerland, signed a memorandum of understanding (MoU) to further dialogue and partnerships on global health. The MoU, which builds on the positive impact of the WGS and WHO past collaborations in developing new solutions in health policies and ...

  Bloomberg Oil falls this week as prospects for a global economic slowdown weighed heavily on the demand outlook. West Texas Intermediate futures dropped 6.7% for the week amid tightening monetary policy and renewed anti-virus lockdowns in China. Meanwhile, traders shrugged off an announcement by G-7 leaders of plans to cap the price of Russian crude in retaliation for Vladimir ...