News

Bloomberg UK Chancellor of the Exchequer Rishi Sunak will hold talks with his Swiss counterpart as the two countries seek to deepen financial services ties in the wake of Brexit. The virtual discussions with Federal Councilor Ueli Maurer will focus on the goal of “a comprehensive mutual recognition agreement” to cut costs and barriers for UK firms operating in Switzerland ...

Bloomberg The Czech Republic may raise interest rates as many as two times this year, central bank Governor Jiri Rusnok said, departing from the global trend of pursuing ultra-loose monetary policy against the coronavirus (Covid-19) crisis. Rusnok, speaking in an interview, said he sees economic growth picking up in the second half of the year, partly due to progress on ...

Bloomberg Chancellor Angela Merkel’s chief of staff proposed temporarily allowing expanded debt spending by Germany’s federal government, prompting a swift rejection from officials in his own party. Helge Braun, Merkel’s chancellery minister, wrote in Handelsblatt newspaper that the country’s so-called debt brake, which is enshrined in the constitution, should be altered to allow more borrowing to help offset the impact ...

Bloomberg Oil rose to trade near $53 a barrel in New York as concerns over the pandemic’s latest hit to demand were tempered by signs of tighter global supply. Futures in New York increased 0.4% after rising 1%. A flare-up of the coronavirus in China is threatening fuel demand during the Lunar New Year period, with the government encouraging millions ...

KIEV / WAM UAE Ambassador to Ukraine Salem Ahmed Al Kaabi and the Minister of Foreign Affairs of Ukraine, Kuleba Dmytro, have discussed ways to develop relations and enhance cooperation between the two countries across various fields of mutual interest. They also discussed efforts to confront the Covid-19 pandemic. Kuleba affirmed the interest of the Ukrainian President, Volodymyr Zelensky, to ...

ABU DHABI / WAM Adnoc maintained in 2021 its position as the UAE’s most valuable brand for the third consecutive year, according to a new report from Brand Finance, the world’s leading independent ranked business valuation consultancy. Adnoc’s AED39.7 billion 2021 brand value, a triple-digit percentage increase since the launch of its transformation strategy in 2016, makes it the second ...

ABU DHABI / WAM The Abu Dhabi Investment Office (ADIO) is partnering with the leading music streaming service in the Middle East and Africa (Mena), Anghami, to establish the technology pioneer’s global headquarters and research and development (R&D) centre in Abu Dhabi. The partnership is part of the ADIO’s recently announced Innovation Programme valued at AED2 billion, which is an ...

DUBAI / WAM Three leading institutions in the UAE on Tuesday announced they have joined the World Logistics Passport (WLP), a major initiative established to increase trading opportunities between developing markets. The WLP is helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent developing economies from ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has won two awards at the International Innovation Awards 2020, organised by Enterprise Asia to recognise outstanding organisations in innovative services, entrepreneurship, sustainability, and promoting a culture of innovation. Dewa won both awards in the Solution and Service category for its Duroob GIS Field Mobile Solution and Rammas, its virtual employee ...

ABU DHABI / WAM Adnoc maintained in 2021 its position as the UAE’s most valuable brand for the third consecutive year, according to a new report from Brand Finance, the world’s leading independent branded business valuation consultancy. Adnoc’s $10.8 billion (AED39.7 billion) 2021 brand value, a triple-digit percentage increase since the launch of its transformation strategy in 2016, makes it ...