Bloomberg The northern Ethiopia conflict may be headed for a dangerous turn after Prime Minister Abiy Ahmed’s unilateral ceasefire failed and he backed calls to resist Tigray forces advancing to retake territory. The Tigray People’s Liberation Front, which federal troops had initially overrun after fighting that started in November, recaptured the state capital, Mekelle, and have taken back control of ...

Bloomberg Malaysian cabinet ministers on Wednesday unanimously pledged support for Muhyiddin Yassin to continue as the nation’s prime minister. The backing comes a week after the United Malays National Organisation, the largest party in the ruling coalition, retracted support for Muhyiddin and demanded he step down for failing to control the worsening Covid-19 situation, calling for a new leader to ...

Bloomberg Banks in Germany are rapidly cutting back on office space as a rising number of staff work from home, putting them at the vanguard of a global shift that could permanently change the way bankers work. Deutsche Bank AG is vacating several floors in a building housing about 1,000 employees, HSBC Germany is ditching six separate offices in Dusseldorf ...

Bloomberg National Australia Bank Ltd (NAB) has emerged as the front-runner for Citigroup Inc’s Australian retail assets. The country’s third-largest bank is in advanced discussions over the purchase of the unit, valued at more than $1 billion, the people said. National Australia confirmed its interest in a statement. “NAB regularly assesses opportunities to acquire businesses that support its growth strategy ...

Bloomberg The central bank of Kenya needs “teeth” to rein in more than 100 lenders, who charge interest rates as high as an annualised 500% for loans disbursed over digital channels, according to Governor Patrick Njoroge. The regulator wants the mobile-phone based and online lenders to disclose more information, including the source of funds and details on ownership for the ...

Bloomberg American stock-index futures were mixed on Wednesday as investors evaluated a surprise US inflation jump that stirred the debate on how long the Federal Reserve will maintain ultra-loose policy. Contracts on the S&P 500 fluctuated, while those on the Nasdaq 100 gained after US tech giant Apple Inc. was said to have prepared suppliers for a boost in next-generation ...

Bloomberg Count small-cap stocks among the casualties of the quickly unraveling reflation trade. The Russell 2000 Index fell more than 1% as the fastest inflation since 2008 fueled concern over pricing pressures and the growth potential of smaller US companies. The retreat contrasts with a gain in the Nasdaq 100, where technology megacaps are increasingly favoured for their strong earnings ...

ABU DHABI / WAM Taulant Balla, Deputy Speaker of the Albanian Parliament, has affirmed that the UAE is a beacon of peace and tolerance in the region, expressing his appreciation for the UAE and its wise leadership for providing continuous support to Albania and its people. In an interview with the Emirates News Agency (WAM), Balla said that the Emirati-Albanian ...

ABU DHABI / WAM Masdar on Tuesday announced that it is expanding its footprint in the Republic of Uzbekistan, with the signing of agreements to develop two photovoltaic (PV) power projects in the country for a combined capacity of 440 megawatts. Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed the Investment Agreements for ...

ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber) and Chairman of the UAE Federation of the Chambers of Commerce and Industry, has received Jorge Agustin Arambarri, Ambassador of Argentina to the UAE, at the Chamber’s tower in Abu Dhabi to discuss trade and economic cooperation between ...