Bloomberg Brazil’s central bank will likely slow the pace of interest rate increases as it calibrates one of the world’s most aggressive monetary tightening cycles despite a breakneck surge in local fuel prices. Policy makers will raise the benchmark Selic by 100 basis points to 11.75%, according to 38 of 44 economists in a Bloomberg survey. Four of them ...
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Big banks emerge as winners as Fed starts rate hike cycle
Bloomberg America’s biggest lenders, including JPMorgan Chase & Co, Bank of America Corp and Citigroup, are emerging as major winners from the Federal Reserve’s most aggressive campaign to increase borrowing costs in years. Banks were among the best performing groups in the S&P 500 Index, as the sector rose 3.7% to the highest in two weeks. The KBW Bank ...
Read More »Stocks jump on China shares; bonds flash post-Fed concern
Bloomberg Stocks jumped on Thursday on a surge in Chinese technology shares and as traders digested the Federal Reserve’s view that a robust US economy can weather the campaign against high inflation now underway. An Asia-Pacific equity index rises about 3%, boosted by China’s effort to stabilize its markets, which was unveiled a day ago. US and European futures climbed ...
Read More »Bitcoin mirrors stock rebound on Powell’s upbeat economic tone
Bloomberg Bitcoin edged higher for a third day following reassurance from Federal Reserve Chairman Jerome Powell that the US economy was strong enough to weather tightening monetary policy. The largest cryptocurrency continued to mirror the US stock market, which swung between gains and losses in the wake of the Fed’s first interest rate increase since 2018. Investors have expressed concern ...
Read More »Floward launches ‘Thank You, Mum’ campaign
Dubai / Gulf Time Floward, the go-to online flowers and gifts delivery destination in MENA and UK launched its Mother’s Day campaign entitled “Thank You, Mum.†The campaign aims to encourage people to thank their mothers for all their efforts. The campaign running for the two weeks leading up to Mother’s Day is also coupled with multiple on-ground activations in ...
Read More »Masdar to develop 4 new clean energy projects in Azerbaijan
Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, has announced the formal start of construction for its 230-megawatt (MW) Garadagh Solar PV Plant in Azerbaijan – the nation’s first foreign investment-based independent solar power project. Masdar also signed agreements related to developing additional clean-energy projects across Azerbaijan. The groundbreaking ceremony, held in Baku, Azerbaijan’s ...
Read More »UAE leaders wish King Salman on success of medical tests
Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have sent congratulatory ...
Read More »Adnic shareholders okay AED228m cash dividends
Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic) approved the distribution of 40 percent cash dividends (AED0.40 per share, implying total cash dividends of AED228 million) for the financial year ended December 31, 2021, after concluding it Annual General Meeting (AGM) on Wednesday. All items on the agenda for the AGM were discussed and approved. Shareholders also approved ...
Read More »Abu Dhabi, Kazakhstan to expand business ties
ABU DHABI / WAM Chairman of Abu Dhabi Chamber of Commerce and Industry, Abdullah Mohamed Al Mazrui, and Ambassador Madiar Menilikov of Kazakhstan to the UAE, discussed the latest developments in economic cooperation between Abu Dhabi and Kazakhstan. Held at the chamber’s tower in Abu Dhabi, the meeting highlighted the development in cooperation ties between the two sides over ...
Read More »UAE to join Singapore convention to help boost international trade
ABU DHABI / WAM The UAE will join the Singapore Convention on Mediation to help facilitate international trade and investment and promote the appeal of mediation as a mechanism of resolving commercial disputes with a cross-border dimension. Supported by the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC), Ministry of Justice (MoJ), and Abu Dhabi Global Market (ADGM), ...
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