Bloomberg The Bank of Korea (BOK) said it will keep considering further interest-rate increases as inflationary pressures are expected to remain elevated for an extended period. The central bank said in a report to parliament on Tuesday that monetary policy needs to remain tight with a focus on reining in consumer prices. Even though inflation is likely to gradually ...

  Bloomberg US equity-index futures and European stocks fell as investors worried about the prospects of interest-rates staying higher for longer and a deepening of geopolitical tensions. The dollar rebounded on haven appeal. Contracts on the S&P 500 and Nasdaq 100 indexes dropped at least 0.6% each with US markets set to return from a holiday. European stocks fell as ...

  Bloomberg The combined equity market value of Adani group’s 10 companies slipped below $100 billion on Tuesday, as the embattled conglomerate struggles to reassure investors following a scathing report by a US short seller. The ports-to-power group has now lost more than $136 billion in market capitalisation since January 24, when US-based Hindenburg Research published a report alleging accounting ...

  Bloomberg SoftBank Group Corp. founder Masayoshi Son increased the amount of stock pledged as collateral to financial institutions to 175.25 million shares, or about 35% of his total stake in the Japanese conglomerate. The 65-year-old billionaire disclosed an increase of about 4.3 million shares as of February 13, worth about 24.5 billion yen ($183 million) at current prices. This ...

  Dubai The Le Fonti Awards held on Thursday night at The Palace in Downtown Dubai at an international ceremony attended by prominent business leaders from around the globe. The annual awards seek to honor the highest levels of business excellence and are acclaimed across the industry as a true mark of quality. At the ceremony, Multibank Group was honored ...

  Abu Dhabi / Gulf Time After its recent phase launch earlier this week, Reem Hills, developed by Q Properties, announces that all available homes in the newly launched phase of the new AED8 billion gated community on Abu Dhabi’s Al Reem Island have been sold out. The phase includes five clusters of luxury residential units, ranging from spacious 3-bedroom ...

LATAKIA / WAM The Emirates Red Crescent (ERC) is continuing its distribution of humanitarian aid to those affected by the earthquake in Syria. The Emirati philanthropic organisation has intensified its relief efforts to reduce the humanitarian impact of the disaster on the lives of the local population and to alleviate their suffering under extremely difficult conditions, as part of Operation ...

  Abu Dhabi / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, on Monday inaugurated the 7th Naval Defence and Maritime Security Exhibition (Navdex) at the Abu Dhabi National Exhibition Centre, coinciding with the16th edition of the International Defence Exhibition and Conference (Idex). During his visit, HH Sheikh Hamed toured several national and foreign ...

Abu Dhabi / WAM The “Business Activity Report” for the year 2022, issued by the Abu Dhabi Business Centre, part of the Abu Dhabi Department of Economic Development (Added), has reported growth of major indicators, reflecting resilience and vitality of the business sector despite challenges in the global economy. The report also showed a high level of adherence to regulations ...

  Dubai / WAM Emirates Airlines has announced plans to build a state-of-the-art training facility in Dubai to cater to its upcoming Airbus A350 and Boeing 777X aircraft. The new 63,318 sq. ft. facility will house six Full Flight Simulator Bays (FFS) and is expected to open in March 2024. HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief ...