Bloomberg China’s yuan is set for its longest losing streak since June even after the central bank sought to support the currency with stronger-than-expected fixings in every single session for nearly a month. The onshore yuan slid for the fourth straight day to trade just 0.5% shy of the weak end of its allowed trading range with the greenback following ...

  Bloomberg JPMorgan Chase & Co won a competitive auction for a municipal-bond deal sold by a Texas school district, marking a major step for the bank after it paused most public-finance work in the state because of a new Republican law targeting Wall Street’s gun policies. Frisco Independent School District, about 30 miles (48 kilometres) north of Dallas, awarded ...

  Bloomberg Thailand’s central bank and the finance ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signalling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation. The ministry and Bank of Thailand (BOT) will discuss the baht’s weakness as the nation needs “to ...

Bloomberg US equity futures wavered and Treasury yields edged higher after the Federal Reserve signaled it would risk a recession to beat inflation, precipitating a wave of monetary tightening from other central banks. Contracts on the S&P 500 fluctuated after the benchmark’s tumble when the Fed unleashed a third consecutive 75 basis-point hike and indicated another of the same magnitude ...

Bloomberg Cryptocurrencies fought off declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central bank’s warning of economic pain ahead from tightening policy. Bitcoin, the largest token, was about 1.2% higher in London after earlier sliding as much as 4% towards levels last seen in 2020. Second-biggest coin Ether continued to underperform, shedding 2%. ...

  ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) has announced that the Mirfa International Power & Water Company (Mipco), the project company that owns and operates the Mirfa Power & Water Plant (Mirfa IWPP), successfully completed refinancing of AED4 billion (US$1.09 billion). This long-term financing is denominated in USD and is slated to mature on 30th September, ...

  ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received a written letter from Emomali Rahmon, President of the Republic of Tajikistan, concerning the development of ties between the two countries. The letter was received by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, during his ...

  DUBAI / WAM Emaar Properties held a General Meeting on Wednesday, where shareholders approved the acquisition of Dubai Creek Harbour from Dubai Holding and the sale of Namshi Holding Limited to Noon AD Holdings Ltd from Emaar Malls Management, a wholly-owned subsidiary of Emaar Properties. Shareholders approved a motion to acquire assets from Dubai Holding and the issuance of ...

  ABU DHABI / WAM Masdar City, in partnership with the UAE Space Agency, has announced the introduction of a new business incubation and acceleration package for space related start-ups and small and medium enterprises (SMEs), joining the Space Economic Zone Programme in Masdar City – Abu Dhabi. Launched in January 2022 in collaboration with the UAE Space Agency, the ...

  South Korea / WAM The latest trend in UAE-South Korea bilateral trade shows the strong and resilient economic relations between the two countries, according to the UAE’s top diplomat in Seoul. “The UAE-South Korea non-oil bilateral trade has grown to US$1.3 billion during the first quarter of 2022, a 19 percent increase compared to the same period last year,” ...