BLOOMBERG  Bitcoin climbed above $30,000 for the first time since June 2022, bolstered by bets on easier monetary policies that have made cryptocurrencies standout performers this year. Bitcoin is now up 82% since December 31, 2022, handily beating the Nasdaq 100 tech index’s 19% gain. Gold, another investor favourite this year, has climbed 9.6%. Crypto’s rapid ascent has seen Bitcoin ...

BLOOMBERG  The Bank of Korea (BOK) kept its benchmark interest rate unchanged and said it intends to keep policy restrictive to combat inflation even with the economy set to slow more than previously expected this year. The central bank held its seven-day repurchase rate at 3.5%, as forecast by economists. Unlike in February, the latest decision was unanimous, an outcome ...

DUBAI / GULF TIME Since its launch in 2022, Hayatna’s natural & healthy products have been winning the hearts of people in the country. Inspired to reward our consumers, Hayatna launched a mega promotion campaign from 22nd to 30th December 2022 across the UAE. The campaign was an extension of the brand promise “From our farms to your table”. It ...

ABU DHABI / WAM H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council, said that the Zayed Humanitarian Day will live on in the conscience as an unforgettable remembrance. “This remarkable day will remain indelible in the memories of the Emirati people and the rest of the world,” Sheikh ...

RIYADH / WAM The Kingdom of Saudi Arabia has received the flag of the FEI World Cup Finals that Riyadh will host in April 2024. The Kingdom received the flag during the FEI World Cup Finals 2023 in Omaha, Nebraska, USA, according to Saudi News Agency (SPA). The FEI World Cup, an annual international competition among the world’s best show ...

DUBAI / WAM Emirates Central Cooling Systems Corporation PJSC (Empower), the district cooling services provider, announced the commencement of operations of its new district cooling plant in Dubailand, with a cooling capacity of 47,000 Refrigeration Tonnes (RT). The new plant will serve the residential community of the Dubai Land Residence Complex (DLRC), one of the prominent residential destinations in the ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa), which is listed on the Dubai Financial Market (DFM), on Monday reported that its shareholders approved the payment of total dividends of AED 4.77 billion with a record date of April 20. This approval came during Dewa’s general assembly, which was held on Monday at the Address Boulevard Hotel Dubai as ...

ABU DHABI / WAM e& on Monday announced the signing of a binding agreement with Uber Technologies, Inc (Uber) and its subsidiary Careem to acquire a majority stake in Careem’s Super App spinout. Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers. e& ...

ABU DHABI / WAM History knew the late Sheikh Zayed bin Sultan Al Nahyan as a leader who prioritised charity and humanitarian work, leaving behind a timeless legacy of his giving in various stretches around the world. Sheikh Zayed’s charity work was unbiased and reached many people in various countries. Under his rule, the UAE’s humanitarian and development aid totalled ...

BLOOMBERG Some smaller Chinese lenders cut interest rates for time deposits over the weekend, following a similar move by their larger rivals last year, after several lending rate reductions by policy makers started to squeeze their margins. Rural lenders in provinces including Henan and Hubei lowered deposit rates by as much as 45 basis points on some tenors, according to ...