News

  Bloomberg Business confidence in Britain has sunk to its lowest level since the global financial crisis, according to a survey of accountants, amid persistently high inflation and fears that the country is already in a recession. The Institute of Chartered Accountants in England and Wales said Thursday that its latest monitor of business sentiment dropped to an index reading ...

  Bloomberg The US Federal Trade Commission filed its lawsuit to block Microsoft Corp.’s $69 billion takeover of gaming company Activision Blizzard Inc. in December partly to get ahead of its European counterparts and dissuade them from accepting a settlement allowing the deal, according to people familiar with the investigations. The FTC filed a complaint challenging the merger on Dec ...

Abu Dhabi / WAM The investments of banks operating in the UAE exceeded AED511 billion at the end of November 2022, the highest level in 13 months, according to the latest statistics of the central bank of the UAE (CBUAE). The CBUAE’s statistics – in its banking indicators report issued on Wednesday – also showed an annual increase of 7.7 ...

  Abu Dhabi / WAM A delegation from the Emirates News Agency (WAM) headed by Mohammed Jalal Al Rayssi, Director-General of WAM, has visited a number of media entities in Costa Rica to promote cooperation in news exchange. The visit aligns with the UAE’s hosting of the United Nations Climate Change Conference of the Parties (COP28) in Expo City Dubai ...

  Abu Dhabi / WAM A total of 4.1 million hotel visitors stayed in Abu Dhabi hotels during 2022, 24% up from 2021, data by the Department of Culture and Tourism – Abu Dhabi, revealed. Hotel revenues climbed by 23% from the previous year to AED5.4 billion in 2022. The statistics showed that Abu Dhabi hotels recorded occupancy rates of ...

  Abu Dhabi / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has successfully issued a 5.25-year $600 million bond at US Treasury +105 Basis Points (bps) which resulted in an all-in yield of 4.514 percent, on January 19. This marks FAB’s second USD issuance in a space ...

  Abu Dhabi / WAM AD Ports group has signed a memorandum of understanding with Tosyalı, one of Türkiye’s largest private steel producers, which has operations in three continents. The MoU looks to establish the framework for AD Ports group to collaborate with Tosyalı on a broad range of shipping, logistics, ports, and freight forwarding services, including potentially jointly investing ...

  Dubai / WAM Moody’s upgraded DP World’s ratings, signaling confidence in the company’s business and future prospects. The upgrade follows two major investments in 2022 at DP World’s flagship UAE assets: Jebel Ali Port, Jebel Ali Free Zone, and National Industries Park. The investments, which totaled $7.4 billion, were made by Canadian investment fund CDPQ in May and Saudi ...

RAHIM YAR KHAN / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Wednesday arrived in the city of Rahim Yar Khan during his visit to the Islamic Republic of Pakistan. Upon his arrival at the airport, His Highness was received by Pakistani Prime Minister Shehbaz Sharif, and a number of ministers and senior officials. During the meeting, ...

Abu Dhabi / WAM Khalifa Fund for Enterprise Development has signed a memorandum of understanding (MoU) with the Ministry of Small and Medium Enterprise Development, Zambia. As per the MoU, Khalifa Fund will provide $15 million (equivalent to AED55 million) to the African nation to support their SME sector. The MoU was signed in the presence of Sheikh Shakhboot bin ...