BLOOMBERG Beleaguered US regional banks are assessing whether bond sales to replace lost deposits are worth the cost, as credit investors weigh whether they’re worth the risk. The arrival of quarterly bank earnings reports has spurred speculation on which financial institutions will brave an unpredictable bond market. Average corporate note yields jumped above 6% in the past 12 months and ...

BLOOMBERG The Swiss National Bank (SNB) may need to raise borrowing costs more, according to President Thomas Jordan. “We can’t exclude that we might have to tighten monetary policy again,” Jordan told reporters in Washington, where he’s attending meetings of the International Monetary Fund (IMF) and World Bank. The SNB has increased interest rates by 225 basis points in the ...

BLOOMBERG A quarter-point increase in interest rates is the most the European Central Bank (ECB) has to deliver at its next meeting, Governing Council member Mario Centeno said, playing down concerns over the strength of underlying inflation. Either a pause, or a slowdown in the pace of hikes is possible as headline price gains in the euro zone retreat and ...

ABU DHABI / WAM Former Sudanese Prime Minister Abdallah Hamdok warned in Abu Dhabi on Sunday that Sudan is at a ‘“catastrophic” moment as a result of the ongoing war and called the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) to immediately cease hostilities and announce a truce that allows safe corridors for citizens to move and ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, announced the launch of the Hub Nub app, a new government communications mechanism that facilitates instant, reliable and effective communication between Dubai government leaders and decision makers. Developed by Digital Dubai, the Hub Nub app serves ...

DUBAI / WAM The foreign trade sector in Dubai is actively pursuing the goals outlined in the Dubai Economic Agenda D33. This initiative was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with the objective of doubling Dubai’s economy over the next decade and solidifying its ...

NEW DELHI / WAM The UAE continues to be the second most important export destination for India, according to annual trade figures released by the Ministry of Commerce and Industry. The US and the UAE retained the first and second places respectively in this category during the financial year 2022-23, the ministry’s figures showed. The figures for the year were ...

VIENNA / WAM The Opec Fund for International Development (the Opec Fund) and the European Bank for Reconstruction and Development (EBRD) are stepping up their delivery of support for development and transition with a new Cooperation Agreement. The institutions signed the document during the World Bank/IMF Spring Meetings in Washington and committed to build a strong pipeline of bankable projects ...

ABU DHABI / WAM ADCB and its Shari’ah compliant digital banking subsidiary Al Hilal Bank have announced an innovative new partnership with Bank of London and the Middle East (BLME) to bring digital UK banking to UAE nationals and residents through Nomo. Customers in the UAE can now open UK-based multi-currency current and savings accounts, as well as apply for ...

LATAKIA / WAM In line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, a third UAE aid ship, carrying over 2,000 tonnes, arrived at the Port of Latakia as part of the UAE’s post-quake recovery plan in Syria under “Operation Gallant Knight / 2’’. The Ministry of Defence’s Joint Operations Command announced the largest aid ...