Bloomberg Nigeria’s currency rebounded in the illegal market as the central bank boosted sales of dollars to commercial banks, according to traders. The currency strengthened to an average 540 to a dollar from about 570 a week ago in unauthorised markets in Lagos and other cities where foreign currency is freely traded, according to Abubakar Mohammed, chief executive officer for ...

Bloomberg Peru’s central bank tightened monetary policy for a fourth straight month after inflation accelerated to its fastest pace in more than 12 years. Policy makers, led by bank President Julio Velarde, raised their key interest rate by a half-point to 2%, as forecast by six of eight economists surveyed by Bloomberg. One analyst expected an increase of 75 basis ...

Bloomberg For years, Chinese leaders have been fighting an uphill battle to drive funding for small business. They are counting on Beijing’s first-ever stock exchange to get the job done. The Beijing Stock Exchange, which launches on Monday, is intended as a platform to house small and medium-sized companies that have long faced difficulty raising capital because they aren’t large ...

Bloomberg Asia’s earnings growth slowed considerably in the latest quarter, putting the region’s already lackluster stock markets further behind global peers. Third-quarter earnings per share grew by 36% for MSCI Asia Pacific Index members, a muted performance compared with the triple-digit gains in the first half thanks to the rebound from the pandemic, according to the latest earnings data compiled ...

SHARJAH / WAM As the UAE gears for its golden jubilee celebrations, the Sharjah National Day Celebrations Committee announced an 11-day cultural extravaganza to mark the nation’s remarkable 50-year journey dotted with memorable accomplishments. The cultural programmes will be staged across the emirate’s different regions from November 23 to December 3. Catering to all age groups and nationalities, the festivities ...

ABU DHABI / WAM Mohamed Helal Al Mheiri, Director-General of Abu Dhabi Chamber of Commerce and Industry (ADCCI), discussed with Tatiana Lavrentyeva, Head of Russia’s Novgorod Export Support Centre, ways to implement joint projects and expand trade relations between Russian regions and Abu Dhabi. This occurred during a visit of Lavrentyeva to Abu Dhabi Chamber, attended by Abdullah Ghurair Al ...

Sharjah / WAM At a business networking event, titled “Discover a World of Investment Opportunities in Sharjah” organised by the Sharjah FDI Office (Invest in Sharjah), as a participant in Expo 2020 Dubai, regional and global investors capitalised on insightful information on emerging business prospects in manufacturing, creative industries, technology, and other key sectors. Continuing on its strategic mission to ...

SHARJAH / WAM The Hamriyah Free Zone Authority (HFZA) received a high-level delegation from the Indian state of Telangana led by Bhasker Reddy, President of the Federation of Telangana Chambers of Commerce and Industry (FTCCI). The visiting delegation was received by Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, with representatives of companies specialising in iron and steel, ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) has launched a trial run of two electric buses, branded Volvo 7900. The two buses will shuttle on a specific path in both directions between La Mer South, King Salman bin Abdul Aziz Street and Al Sufouh Tram Station. The launch is coordinated with Dubai Electricity and Water Authority (DEWA), Volvo ...

Abu Dhabi / WAM The Abu Dhabi National Exhibitions Company (Adnec) has announced it has finalised its preparations to host the Abu Dhabi International Petroleum Conference (Adipec) from November 15-18. Held under the Patronage of His Highness Sheikh Khalifa Bin Zayed Al Nayhan, President of the UAE, Adipec is one of the world’s largest, and most influential meeting points for ...