Bloomberg Uganda increased interest rates for the first time since October 2018 to counter accelerating inflation and support the weakening shilling. The monetary policy committee raised the benchmark rate to 7.5% from 6.5%, Deputy Governor Michael Atingi-Ego told reporters. The central bank cut its economic growth forecast for Uganda this year to a range of 4.5% to 5%, compared ...

Bloomberg US-listed China stocks surged to the highest since early April on increased speculation that a year-long government crackdown on the technology industry is easing. While the S&P 500 Index struggled to mount much of an advance, the Nasdaq Golden Dragon Index closed 5.4% higher after surging as much as 8.3%, as Chinese regulators were said to be close to ...

  Bloomberg Crypto-flavoured exchange-traded funds are cluttering the industry’s worst-performing list so far this year. The six worst-performing, non-leveraged ETFs in the $6.6 trillion arena in 2022 are all crypto-linked equity funds, according to data compiled by Bloomberg. The $63 million Global X Blockchain ETF (ticker BKCH) is the biggest loser with a year-to-date drop of 64%. While crypto-linked ETFs ...

  Dubai / WAM DP World and CDPQ, a global investment group, announced on Monday an investment of $5 billion (CA$6.3 billion) in three of DP World’s flagship UAE assets. CDPQ will invest $2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold ...

  Abu Dhabi / WAM President HH Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Her Majesty Queen Elizabeth II of the United Kingdom of Great Britain and Northern Ireland, on the occasion of the 70th anniversary of Her Majesty’s accession to the throne. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ...

  Dubai / WAM Dubai International Chamber, one of three Chambers operating under Dubai Chambers, has announced plans to open a representative office in Tel Aviv, which will aim to facilitate trade and investment between business communities in Dubai and Israel. The announcement came during a meeting held at the chamber’s headquarters, attended by Hamad Buamim, President and CEO of ...

  Abu Dhabi / WAM The Abu Dhabi Agriculture and Food Safety Authority (Adafsa) hosted the “Regional training workshop on strategic planning and policy development in food security” in Abu Dhabi in collaboration with the Islamic Organisation for Food Security (IOFS). The training workshop was attended by representatives of 27 countries, including the UAE, Bahrain, Jordan, Kuwait, Lebanon, Oman, Palestine, ...

Dubai / WAM Emirates and Airlink officially activated their codeshare partnership, making it easier for customers to create their ideal itinerary and benefit from seamless connections and a single booking reference across eight domestic South African cities via the airline’s gateways Johannesburg, Cape Town and Durban. Emirates customers can now book a wide range of additional flights, including eight destinations ...

  Dubai / WAM Dewa has completed 44 percent of its pumped-storage hydroelectric power station being built by Dewa in Hatta, which will have a production capacity of 250 megawatts (MW), a storage capacity of 1,500 megawatt-hours and a life span of up to 80 years. Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), ...

  Abu Dhabi / WAM The United Arab Emirates has condemned statements by the spokesperson for the Indian Bharatiya Janata Party, expressing its denunciation and rejection of insults of the Prophet Muhammad, peace and blessings be upon Him. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed the UAE’s firm rejection of all practices and behaviors ...