Bloomberg Citigroup Inc is collecting a windfall from tumultuous international markets, even as a dimming economic outlook and Russia’s invasion of Ukraine pose billions of dollars in risks. The bank’s second-quarter profit soared past analysts’ estimates, driven by unexpectedly large hauls from currencies, commodities and interest-rates trading and its shuttling of corporate money over borders. Net income amounted to ...

  Bloomberg European stocks and US equity futures rise, while the dollar weakened as investors scaled back bets on how aggressively the Federal Reserve will tighten policy, easing recession fears. The Stoxx Europe 600 advanced to its highest level in more than a month, led by mining and energy shares. Futures on the S&P 500 and Nasdaq 100 indices added ...

  Bloomberg Hong Kong’s stocks climbed on Monday, with a rally in beaten-down property and technology names helping the benchmark index rebound from the brink of a technical correction. The Hang Seng Index jumped 2.7%, snapping a five-day loss. Country Garden Holdings Co. — China’s largest builder — was among the top gainers following a report that the nation’s banking ...

  Abu Dhabi / WAM The President of Turkmenistan, Serdar Berdimuhamedow, received a written message from President His Highness Sheikh Mohamed bin Zayed Al Nahyan, inviting him to visit the UAE in line with strengthening relations between their countries. This came as President Berdimuhamedow received, at the Presidential Palace in Ashgabat, Suhail bin Mohammed Al Mazrouei, Minister of Energy and ...

  Bloomberg The International Monetary Fund (IMF) will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks. Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it ‘much more challenging’ for policymakers, ...

  Abu Dhabi / WAM Dolphin Energy Limited on Sunday marks 15 years of operations, during which the company imported two billion standard cubic feet (scf) of natural gas into the UAE and Oman every day. Dolphin Energy’s Chief Executive Officer, Obaid Abdulla Al Dhaheri, commented on the achievement, and said that “This is an important milestone in our history ...

Bloomberg India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in world’s third-biggest energy consumer that could help keep a lid on oil prices. The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery ...

  Sharjah / WAM The Sharjah Commerce and Tourism Development Authority (SCTDA) has announced the return of its annual Sharjah Summer Campaign. Running through September 30, SCTDA’s seasonal campaign features an integrated package of exclusive hotel offers and discounts on an array of activities throughout the emirate’s popular tourist and hospitality destinations. The competitive offers and exclusive family and hotel ...

  Abu Dhabi / WAM Under the auspices of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai UAE, the UAE Space Agency on Sunday announced a new AED3 billion national investment and development fund for the space sector, ...

  DUBAI / WAM Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion in FDI across 30 FDI projects in 2021, Dubai ranked number one in FDI capital, projects, and job creation in tourism sector in 2021, according to The Financial Times’ fDi Markets data, a leading global data ...