Bloomberg Ukraine devalued the official hryvnia exchange rate to protect its foreign-currency reserves as Russia’s invasion ravages the economy. The National Bank of Ukraine (NB) also held its main interest rate unchanged at 25% on Thursday and said that its monetary and exchange-rate policies are aimed at easing pressure on the local currency. It set the hryvnia rate at 36.5686 ...

  Bloomberg CDH Investments, an alternative investment fund manager focused on China, has hired top Asian dealmaker Alex To as its new chief executive officer, according to people familiar with the matter. To, until recently the co-head of Bank of America Corp’s (BofA) Asia Pacific investment banking, will also become a partner of the fund, one of the people said. ...

  Bloomberg Goldman Sachs Group Inc plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses. “Given the challenging operating environment, we are closely re-examining all of our forward spending and investment plans to ensure the best use of our resources,” Chief Financial Officer Denis Coleman said on a conference call ...

  Bloomberg European stocks steadied with US equity futures on Thursday as investors braced for the European Central Bank’s first interest rate hike in 11 years, while Russia resumed sending gas to Europe through a key pipeline, dispelling investors’ worst fears. The Stoxx Europe 600 Index and the euro recouped losses following the resignation of Italy’s Prime Minister Mario Draghi. ...

  Bloomberg India is best positioned among emerging nations to withstand a global recession, as a thriving domestic market makes it less dependent on exports, according to US-based GQG Partners LLC. The firm has more than $7 billion invested in India, where favorable demographics are driving local consumer demand, Sudarshan Murthy, a portfolio manager, said in an interview. GQG’s upbeat ...

  ABU DHABI / WAM G42, the leading UAE-based AI and cloud computing technology holding company, and Bayanat, its subsidiary specialising in AI-powered geospatial intelligence, were recognised by the UAE Ministry of Human Resources and Emiratisation (MoHRE) for achieving three times their Emiratisation targets in a short span of a month and a half. The recognition reflects G42’s efforts to ...

  Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) has officially joined the Space Climate Observatory (SCO) International, a global consortium of space agencies and organisations led by the National Centre for Space Studies (CNES) that seeks to coordinate worldwide efforts to accurately monitor the impact of climate change. The initiative to join the charter forms part of ...

SHARJAH / WAM Sharjah real estate developer, the Alef Group, has launched Zone 3 in its Al Mamsha Sharjah development at a value of AED1.6 billion. The AED 5 billion project, based in the Al Muwaileh area, will be the city’s first fully walkable community. Al Mamsha Raseel (Zone 3) comprises 2210 units offering a variety of modern 1-, 2-, ...

  Abu Dhabi / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, discussed, with Dukguen Ahn, Minister for Trade of South Korea, ways of strengthening the bilateral economic and commercial cooperation between the UAE and South Korea in food security, health, technology, telecommunications, manufacturing and renewable energy. Their discussion took place during the virtual “UAE-Korea ...

  DUBAI / WAM Strata Manufacturing has signed a new contract with the Mohammed Bin Rashid Space Centre (MBRSC) to produce more parts for MBZ-SAT. MBZ-SAT will be the region’s most advanced commercial satellite in the field of high-resolution satellite imagery. The signing of this agreement confirms the two entities’ commitment to supporting the growth of the space and manufacturing ...