Bloomberg Russia still has about $300 billion of foreign currency held offshore — enough to disrupt money markets if it’s frozen by sanctions or moved suddenly to avoid them. That’s according to Credit Suisse Group AG strategist Zoltan Pozsar, who parsed data from the Bank of Russia and financial markets to calculate that a much larger share is held ...

  Bloomberg Italy’s new plan to break its dependence on Russian gas may rely partly on an old source of energy: coal. Prime Minister Mario Draghi said Friday that the country could reopen some shuttered coal plants to help bridge its looming energy supply gap and cut its dependence on Russia, which currently accounts for 45% of Italian gas supplies. ...

  Bloomberg Polish residents queued to withdraw cash from banks amid concerns over the fallout from Russia’s invasion of neighboring Ukraine, triggering a statement from the central bank that the country has sufficient reserves despite some ATMs running out of zloty. “All bank orders are carried out without value limits, in the full nominal value, throughout the country,” the National ...

Bloomberg US inflation-adjusted consumer spending advanced by more than expected in January, highlighting the resilience of American demand despite a surge in Covid-19 cases and prices rising by triple the Federal Reserve’s target. Purchases of goods and services, adjusted for changes in prices, increased 1.5% from December, the most in 10 months, according to Commerce Department figures Friday. The personal ...

  Bloomberg US equity futures dropped as the Ukraine conflict and Western sanctions on Russia muddied the outlook for markets and the global economic recovery. Crude prices steadied after briefly halting a rally. Contacts on the S&P 500 were down about 0.3% after paring earlier declines of more than 1%. Oil fluctuated, with benchmark West Texas Intermediate flipping to a ...

Bloomberg The ruble and stocks paused their historic slump as Western sanctions on Russia appeared less severe than some had expected. The benchmark MOEX index was up 15% after losing as much as 45% the day before in the wake of Russia’s attack on Ukraine. The ruble gained 2.1% against the dollar after sinking to a record low. Still, new ...

  Bloomberg Gold extended a decline amid a rebound in stock markets as investors remained on edge while assessing the impact of Russia’s invasion of Ukraine and Western sanctions. European shares surged the most in two months on Friday as risk sentiment improved following a sharp sell-off. Bullion fell after surging to the highest in more than 17 months as ...

  Abu Dhabi / WAM HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and Chairman of Etihad Rail, and Sheikh Mohamed bin Saif bin Mohamed Al Nahyan, Vice Chairman of FAB’s Board of Directors, on Thursday witnessed the signing of an agreement between Etihad Rail and First Abu Dhabi Bank for ...

Abu Dhabi / WAM As part of its dynamic series of diplomatic dialogues, the Anwar Gargash Diplomatic Academy (AGDA), the country’s leading entity that trains current and future diplomats of the UAE, hosted distinguished diplomats in its latest panel discussion, titled ‘Public Diplomacy Tradecraft.’ The event was attended by AGDA’s students, academics, as well as members of the diplomatic community ...

  Abu Dhabi / WAM International Holding Company PJSC, the Abu Dhabi-headquartered multi-sector conglomerate, has completed its acquisition of a majority stake in Arena Events Group PLC (Arena), a world-leading event structures and entertainment services business, previously listed on the AIM market of the London Stock Exchange. The acquisition of a 70% stake in Arena for a total consideration of ...