News

  Dubai / Gulf Time Dr Sulaiman Al-Fahim, founder and Chairman of the Board of Directors of Sustain Digital Trading, praised the company’s listing on the “Dubai Next” platform, which is the first official government digital crowdfunding platform based on community support, for young people and those with creative and ambitious ideas of different nationalities to be launched from Dubai. ...

Bloomberg From Chelsea penthouses to Highgate mansions, Russia’s long-standing infatuation with UK real estate is evident from a cursory glance at some of the country’s priciest property transactions. The past decade has seen that trend explode. The number of UK properties whose owners’ principal correspondence address is in Russia reached 1,127 in August 2021, according to data released by the ...

  Bloomberg Norway’s $1.3 trillion sovereign wealth fund’s chief executive, Nicolai Tangen, is resisting pressure to sell Russian stocks now, saying doing so would be akin to a “gift” to the country’s oligarchs. The Oslo-based fund is the world’s biggest owner of publicly traded companies with a portfolio of about 9,000 stocks, and has about 0.2% of its assets invested ...

  Bloomberg Russia still has about $300 billion of foreign currency held offshore — enough to disrupt money markets if it’s frozen by sanctions or moved suddenly to avoid them. That’s according to Credit Suisse Group AG strategist Zoltan Pozsar, who parsed data from the Bank of Russia and financial markets to calculate that a much larger share is held ...

  Bloomberg Italy’s new plan to break its dependence on Russian gas may rely partly on an old source of energy: coal. Prime Minister Mario Draghi said Friday that the country could reopen some shuttered coal plants to help bridge its looming energy supply gap and cut its dependence on Russia, which currently accounts for 45% of Italian gas supplies. ...

  Bloomberg Polish residents queued to withdraw cash from banks amid concerns over the fallout from Russia’s invasion of neighboring Ukraine, triggering a statement from the central bank that the country has sufficient reserves despite some ATMs running out of zloty. “All bank orders are carried out without value limits, in the full nominal value, throughout the country,” the National ...

Bloomberg US inflation-adjusted consumer spending advanced by more than expected in January, highlighting the resilience of American demand despite a surge in Covid-19 cases and prices rising by triple the Federal Reserve’s target. Purchases of goods and services, adjusted for changes in prices, increased 1.5% from December, the most in 10 months, according to Commerce Department figures Friday. The personal ...

  Abu Dhabi / WAM HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and Chairman of Etihad Rail, and Sheikh Mohamed bin Saif bin Mohamed Al Nahyan, Vice Chairman of FAB’s Board of Directors, on Thursday witnessed the signing of an agreement between Etihad Rail and First Abu Dhabi Bank for ...

Abu Dhabi / WAM As part of its dynamic series of diplomatic dialogues, the Anwar Gargash Diplomatic Academy (AGDA), the country’s leading entity that trains current and future diplomats of the UAE, hosted distinguished diplomats in its latest panel discussion, titled ‘Public Diplomacy Tradecraft.’ The event was attended by AGDA’s students, academics, as well as members of the diplomatic community ...

  Abu Dhabi / WAM International Holding Company PJSC, the Abu Dhabi-headquartered multi-sector conglomerate, has completed its acquisition of a majority stake in Arena Events Group PLC (Arena), a world-leading event structures and entertainment services business, previously listed on the AIM market of the London Stock Exchange. The acquisition of a 70% stake in Arena for a total consideration of ...