BLOOMBERG  Japanese investors are snapping up foreign currencies, local stocks and US Treasuries after the country’s new central bank chief damped speculation he will start normalising policy. Among their investments, Citigroup clients are buying US and Australian dollars to profit from their interest-rate premiums over the yen, said Keita Matsumoto, head of financial institutions sales and solutions at Citigroup Global ...

BLOOMBERG  Credit Suisse Group AG reported 61.2 billion francs ($69 billion) of outflows in the first quarter and took a large writedown at its wealth management unit, underscoring the challenge for UBS Group AG in retaining key clients and assets after the emergency takeover of its biggest rival. The Swiss bank lost more than 200 billion francs ($224.77 billion) of ...

BLOOMBERG  Thailand’s central bank governor said the nation’s main political parties are trying to woo voters with policies that could undermine the country’s longer-term economic health. “Any policies that hurt fiscal discipline — creating moral hazard, destroying credit culture — need to be monitored as they can be risky,” Bank of Thailand Governor Sethaput Suthiwartnarueput told reporters when asked to ...

ABU DHABI / WAM  HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has praised Saudi Arabia for its crucial role in evacuating Emirati and other foreign citizens from Sudan to their country during a phone call with Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs of the Kingdom. His Highness Sheikh ...

DUBAI / WAM The upcoming Arabian Travel Market (ATM) 2023 in Dubai is set to feature over 80 of the world’s top travel technology companies, showcasing their latest innovations and advancements. The four-day event, which will take place from May 1-4 at the Dubai World Trade Centre (DWTC), will offer more than 2,000 square meters of exhibition space dedicated to ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), received Eng Yousif Al Ali, CEO of Etihad Water and Electricity (EtihadWE). This was one of several mutual visits to build closer ties between government organisations in the UAE. The meeting aimed to enhance cooperation between the two sides, including strategies for integrating ...

DUBAI / WAM Emirates announced the launch of a new daily service from Dubai to Montréal, starting from July 5. This will be Emirates’ second gateway in Canada, complementing its existing passenger services to Toronto, which have been operating since 2007. This move comes as the UAE and Canada aim to deepen economic cooperation and stimulate benefits in the aviation ...

LONDON / WAM Abdullah bin Touq Al Marri, Minister of Economy, participated in the 13th edition of the City Week 2023 Forum, running in London on April 24-26. Through its three sessions, the latest edition of the forum discusses the issues of climate change, green financing and sustainability; institutional adoption; regulation of digital assets; and digitisation and innovation in capital ...

ABU DHABI / WAM Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company, has signed a binding commitment to acquire a 55 per cent majority stake in Media 247, one of the leading UAE outdoor advertising companies, for approximately AED 184 million. Media 247 assets include over 45 exclusive outdoor premium hoardings, unipoles and 3D structures spread across Dubai’s ...

ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) has joined the global community in observing World Malaria Day on April 25, a day that marks the 16th anniversary of the UAE being declared malaria-free by the World Health Organisation in 2007. The ministry has reiterated the UAE’s commitment to helping reduce worldwide malaria incidence by 90% before ...