Bloomberg The UK announced a plan for government oversight of stablecoins and said it would consult on regulating a wider set of cryptoasset activities, signalling engagement with an industry it has clashed with at times as digital assets gain mainstream appeal. The government will amend existing legislation for electronic payments to bring stablecoins — a form of cryptoasset that ...

  Bloomberg Pakistan’s top central banker pledged policy actions “on a timely basis” to ensure stability amid a political shakeup and deteriorating economy. The comments from State Bank of Pakistan Governor Reza Baqir come as lawmakers choose Shehbaz Sharif as prime minister after Imran Khan was ousted in a no-confidence vote. Khan’s downfall was accelerated by inflation running faster than ...

  Bloomberg Peru raised interest rates to a 13-year high to tame soaring inflation that has triggered mass unrest in recent days. The central bank lifted its key rate half a percentage point to 4.5%, its ninth straight hike, in line with analyst forecasts. “The significant rise in international prices of energy and food since the second half of last ...

  Bloomberg Societe Generale agreed to sell its Rosbank PJSC unit to the investment firm of Russia’s richest man, taking a hit of about $3.3 billion to exit the heavily sanctioned nation. The bank signed an accord to sell its entire stake in Rosbank and its Russian insurance subsidiaries to Vladimir Potanin’s Interros Capital. Despite the financial hit, SocGen said ...

  Bloomberg The feel-good days for global markets at the end of March are firmly over. Everything from stocks to bonds is falling — even oil has pulled back from near records — in a concerted cross-asset selloff with echoes of the rate-spurred rout of October 2018. Blame it on a Federal Reserve intent on restricting policy to tamp down ...

  Bloomberg Tencent Holdings Ltd. surged more than 5%, joining the rest of China’s gaming industry in a rally after regulators approved the country’s first batch of new titles in more than eight months. The National Press and Publication Administration published a list of 45 domestic titles on its website, confirming an earlier Bloomberg News report. While leaders Tencent and ...

  Abu Dhabi / WAM Al Seer Marine (ASM), a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), performed the steel cutting ceremony for its first Very Large Gas Carrier (VLGC), named Lucky Gas. Last year, Al Seer Marine formed a joint venture – named ABGC DMCC, with BGN International – to build two ...

  NOUAKCHOTT / WAM The Emirates Red Crescent (ERC) has distributed Ramadan ration among residents of 40 villages in Trarza region, Mauritania. The initiative is in implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the follow up of HH Sheikh ...

  HANOI / WAM Vietnam’s e-learning market is expected to reach revenue of around $3 billion by 2023 with a CAGR of about 20.2% from 2019-2023, the Vietnam News Agency (VNA) quoted a report by Ken Research as saying. Vietnam’s educational technology (Edtech) market is said to hold high potential and is drawing attention from investors, especially in the context of ...

London / Gulf Time dnata, a leading global air and travel services provider, has inaugurated a new, state-of-the-art cargo centre at London Heathrow airport (LHR). Part of the company’s ‘dnata City East’ complex, the bespoke facility further increases dnata’s capacity at London Heathrow airport, ensuring continued smooth handling of a broad range of goods amid rapidly increasing demand for reliable ...