Bloomberg US equity futures and European stocks dropped in the face of hawkish comments from Federal Reserve and European Central Bank (ECB) officials that ramped up investors’ expectations of higher interest rates. The dollar rallied and bonds fell. Contracts for both the S&P 500 and Nasdaq 100 retreated after the underlying indexes sank more than 1% on February 16. ...

Bloomberg The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. (BofA) strategists, who say a resilient economy thus far means interest rates will stay higher for longer. A team led by Michael Hartnett is among those predicting a scenario known as “no landing” in the ...

  Abu Dhabi / Gulf Time Following the success of Phase One and Phase Two of the Reem Hills luxury residential community on Al Reem Island, Abu Dhabi, Q Properties, a subsidiary of Q Holding, announced the launch of a new phase of the leading gated community in the heart of the capital. “This project was designed to embody our ...

  Abu Dhabi / WAM The UAE has expressed its sincere condolences and solidarity with New Zealand for the victims of cyclone Gabrielle, which swept across the country and killed a number of people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the government of New Zealand, its people ...

  Abu Dhabi / WAM In 2022, the total written premiums for insurance firms listed in local financial markets increased on an annual basis by 13%, equivalent to AED3.34 billion while net profits reached AED1.52 billion. According to a report by the Emirates News Agency on the disclosures of 29 listed national insurance companies of their financial results on financial ...

  Riyadh / WAM Annual upstream oil and gas investment needs to rise by 28% to reach $640 billion by 2030 to ensure adequate global supplies, according to a new report published by the International Energy Forum (IEF) and S&P Global Commodity Insights, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets. Capital ...

  DUBAI / WAM Investopia, the global investment platform launched by the UAE government, and Mubadala, the sovereign investor, announced a strategic partnership focused on Investopia’s second annual event, which will take place on March 2-3 in Abu Dhabi, under the theme “Envisioning Opportunities in Times of Change”. This strategic partnership will build on the successful participation of Khaldoon Al ...

  Dubai / WAM Etihad Airways is expanding its European network this summer with the introduction of a new direct service between Abu Dhabi and Lisbon, effective from July 2. The airline will be connecting Abu Dhabi to Portugal’s capital city right in time for the summer holidays, with three weekly flights scheduled to be operated on Tuesdays, Wednesdays and ...

  Abu Dhabi / WAM The net earnings of 123 listed Emirati companies reached AED191 billion in 2022, indicating their robust financial position and healthy revenue growth. According to a report by the Emirates News Agency (WAM), the net earnings of national listed companies increased by 60% or AED72 billion from January 2022 to December 2022. Out of the total ...

  Dubai / WAM DMCC has reported a 17 percent year-on-year increase in the value of diamond trade in 2022, totalling $37.4 billion combined for rough and polished diamonds, including a 42 percent rise in the polished category and a consistently strong 7 percent rise in rough. The soaring figures are further evidence of the rapid rise of Dubai as ...