Bloomberg US equities are set for their worst year since the global financial crisis, and, according to Morgan Stanley strategist Michael Wilson, corporate profits are about to meet the same fate. A looming earnings recession “by itself could be similar to what transpired in 2008/2009,” said Wilson. That could spark a new stock-market low that’s “much worse than what ...

  Bloomberg Global stocks attempted to recover after two weeks of losses sparked by the concern that continued policy tightening by the US Fed and other central banks would trigger economic recession and hit companies’ profits. While the S&P 500 and the tech-heavy Nasdaq 100 are on track to end the month lower, futures on both ticked higher. In Europe, ...

Bloomberg Australia’s sovereign wealth fund is positioning for inflationary pressures to persist around the world, betting that gold and other commodities will offset crimped returns across asset classes. Future Fund Chief Executive Officer Raphael Arndt said “a few percent” of the firm’s A$193 billion ($130 billion) of assets is now invested in gold, after making its first foray into the ...

  Bloomberg The European Union (EU) reached an agreement to strengthen and expand its flagship carbon market, endorsing the centerpiece of the Green Deal strategy that aims to make its economy climate-neutral by mid-century. Under a provisional deal announced by representatives of EU member states and the European Parliament, emissions trading will be extended to heating and road transport, and ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to the Emir of Qatar, HH Sheikh Tamim bin Hamad Al-Thani, on the occasion of his country’s National Day. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, dispatched a ...

  Sharjah / Gulf Time Stalwarts from the world of business came together on the Tech Stage at the 6th Sharjah Entrepreneurial Festival (SEF) 2022 to share their invaluable know-how and personal experiences with a fully-packed audience, eager to upskill their entrepreneurial abilities. “In any economy across the globe, SMEs contribute to almost 90% of the GDP. Why? Because 60% ...

Dubai / WAM Nine years of fulfilment, giving, and sustainable development reflects the journey of the Rental Disputes Centre (RDC), the judicial arm of Dubai Land Department (DLD), launched according to a systematic developmental journey to achieve social and economic stability for all those involved in the real estate rental sector and other relevant sectors, establishing a specialised judicial system ...

  Abu Dhabi / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led an Emirati delegation of business and investment leaders on a visit to Scotland, to discuss renewable energy projects and other potential areas of cooperation, such as science. The delegation included Rashid Abdul Karim Al Balooshi, Under-Secretary of Abu Dhabi Department of Economic ...

  Dubai / WAM The UAE’s leadership continues to champion gender balance as a national priority. The SDG 5 Pledge to Accelerate Gender Balance in the UAE Private Sector has a target of increasing the representation of women in leadership roles to 30 percent by 2025 to ensure their full and effective participation at the highest levels of decision making. ...

  Abu Dhabi / Gulf Time A delegation from Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (Adex), visited Al Dahra Agricultural Company in Khalifa Industrial Zone (Kizad), one of the leading firms in the UAE’s food and agriculture sector. The delegates held a meeting with the company officials, where they explored ways to enhance cooperation ...