Bloomberg The European Central Bank is concerned that lenders’ balance sheets could suffer a series of hits after Russia’s invasion of Ukraine plunged the global economy and markets into turmoil. The regulator has told banks to assess whether they need to set aside money for potential losses not just on loans to Russian firms, but also on lending to companies ...

  Bloomberg Royal Bank of Canada, Shopify Inc. and Bullfrog Power Inc. have agreed to buy a combined 90,000 megawatt-hours of energy a year from a Berkshire Hathaway Inc. wind farm in Canada. The firms are purchasing the power from Berkshire Hathaway Energy Canada’s 130-megawatt Rattlesnake Ridge Wind Power Project in southeast Alberta, according to a release Wednesday. The project, ...

Bloomberg US index futures and European stocks rose as dip buyers wagered the global economic impact of escalating sanctions on Russia is already reflected in market prices. Contracts expiring later this month on the S&P 500 and Nasdaq 100 gauges added at least 1.2% each after US equities tumbled to a nine-month low. Banks and automakers boosted Europe’s Stoxx 600 ...

  Bloomberg A move by the world’s largest sovereign wealth fund to snub a Chinese apparel firm and growing concern that surging oil prices will complicate policy makers’ easing path sparked fresh pessimism over Chinese and Hong Kong’s stocks. Stock benchmarks in China and Hong Kong both tumbled by more than 3% before paring losses sharply. The CSI 300 closed ...

  DUBAI / WAM Bloomberg Media is expanding in the Middle East and Africa with the creation of a regional studio in Dubai, established by Bloomberg Media Studios, its branded content division. The studio will comprise a full team of creative and business professionals and will serve the growing roster of clients across the region who are looking to engage ...

  ABU DHABI / WAM Agthia Group on Tuesday announced that the group’s net revenue reached AED3.07 billion for 2021, equivalent to 49% year-on-year growth compared to same period last year, following the consolidation and integration of key acquisitions into the business. The Group’s net profit stood at AED216 million compared to AED34 million in the previous year, in which ...

  ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, Chairwoman of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, congratulated Emirati women and all women around the world on the occasion of International Women’s Day on Tuesday. “Every day, women are proving that hard work makes ...

  RAS AL KHAIMAH / WAM Ras Al Khaimah-based real estate development and investment company Al Hamra has unveiled an ambitious five-year roadmap, from 2023-2027, to drive sustained growth through strategic developments, in line with the vision of Ras Al Khaimah’s leadership to establish the emirate as one of the leading investment, business, residential and tourism destinations. The company has ...

  ABU DHABI / WAM Buna, the cross-border and multi-currency payment system owned by the Arab Monetary Fund (AMF), on Tuesday signed a Memorandum of Understanding (MoU) with NPCI International Payments Limited (NIPL), the international arm of National Payments Corporation of India (NPCI), to support the growth of trade and investment flows between the Arab world and India. The MoU ...

  DUBAI / WAM Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Dubai International Humanitarian Aid and Development Conference and Exhibition — Dihad, starts next week on March 14 at the Dubai World Trade Centre. The leading humanitarian forum brings together some of the world’s philanthropic institutions, ...