BLOOMBERG The Bank of England (BOE) plans to cut spending on climate change work and redirect the money to core functions because of rising pressures on its costs. Climate programs will slip lower on the central bank’s agenda so officials can focus more on the core operations such as financial stability, markets and a digital currency, according to a person ...

BLOOMBERG Haruhiko Kuroda finished his last meeting at the helm of the Bank of Japan (BOJ) by buffeting markets again with a straightforward stand-pat that contrasted with the explosive launch of his massive stimulus program a decade ago. The BOJ left its negative interest rate and its cap on government debt yields untouched at the shortest regular meeting during Kuroda’s ...

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) is showcasing the vital role that “Net Zero Nuclear Energy” is playing in tackling climate change and rapidly decarbonising the power sector in the UAE, at CERAWeek, the world’s premier energy conference in Houston, US. With more than 7,600 delegates this year, CERAWeek is highlighting how electrification is a key ...

ABU DHABI / WAM etisalat by e& UAE has announced sending telecommunication equipment worth AED20 million as a humanitarian support to reconstruct Türkiye’s telecommunication infrastructure in earthquake-affected areas. This is a continuation of a previous initiative launched by the e& group, which affirms its keenness to participate in the “Gallant Knight / 2” campaign, initiated by President His Highness Sheikh ...

ABU DHABI / WAM The Abu Dhabi Arabic Language Centre (ALC), a part of the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), has launched an initiative to establish “Reading Corners” at several cultural institutions across the UAE capital. The initiative was launched to mark the “National Reading Month” and aims to promote a culture of reading ...

DUBAI / WAM The 19th edition of the Dubai International Wood and Woodworking Machinery Exhibition concluded, with 412 exhibiting companies from 42 countries, including the US, Russia, China, India, Portugal, France, Turkey, Panama, Jordan, Egypt, Saudi Arabia, and the UAE in attendance. The founders and top executives of participating companies emphasised the distinguished position of the Dubai WoodShow and its ...

BLOOMBERG Sea Ltd and GoTo Group, two of Southeast Asia’s largest internet companies, are embarking on fresh layoffs as the region’s once high-flying tech leaders retrench to focus on profitability over growth. Singapore’s Sea is cutting fewer than 500 jobs at e-commerce unit Shopee in Indonesia, a person with direct knowledge of the matter said, days after the company reported ...

BLOOMBERG Indonesia lowered taxes on some investments and sweetened land acquisition terms as part of efforts to attract funds for its $34 billion new capital project that’s struggling to take off. The government will provide up to 100% corporate tax holiday for companies investing at least 10 billion rupiah ($650,745) in the new capital in Borneo, according to a new ...

BLOOMBERG The US and India will sign an agreement to boost coordination of their chip-industry incentive plans and are discussing the best ways to avoid over-subsidisation as the South Asian nation looks to boost its role in the global technology supply chain. The memorandum of understanding focusses on information-sharing and policy dialogue, Commerce Secretary Gina Raimondo told reporters. While she ...

BLOOMBERG AirPods maker GoerTek Inc’s Vietnam business chief is leaving the company, days after the executive outlined how Apple Inc’s Chinese suppliers are likely to move capacity out of the country far faster than anticipated to pre-empt fallout from escalating Beijing-Washington tensions. Deputy Chairman Kazuyoshi Yoshinaga is departing for “personal reasons,” the Chinese firm said in a brief exchange filing, ...