Bloomberg Deutsche Bank is rearranging how it sells fixed-income trading products as it seeks to lower costs without sacrificing revenue from the company’s biggest source of income. The new model will divide the coverage team into two groups, one focusing on flow and liquidity and another on client solutions. That’s in an effort to provide purely electronic or voice offerings ...

Bloomberg Stock sales are reaping a windfall for the world’s richest shareholders. Corporate insiders including Amazon.com’s Jeff Bezos and Google co-founder Sergey Brin have ramped up stock sales recently, cashing in on a 14-month long bull market that’s helped boost fortunes to the tune of trillions. US public company insiders offloaded shares worth $24.4 billion this year through the first ...

Bloomberg Global funds have piled back into short selling South Korean stocks in the two weeks since authorities lifted a ban on the divisive investment strategy. While the benchmark Kospi Index has held up amid a decline in regional peers during this period, pain has been felt in Korean stocks favoured by the nation’s legions of retail traders. Short selling ...

Bloomberg Oil in New York surged the most in a month as prices garnered support from a recovery in the equities and a softer dollar. West Texas Intermediate climbed back above $65 a barrel, eking out a third straight weekly gain as a weakening dollar boosted appeal for commodities priced in the currency. Concerns persist over spread of Covid-19 in ...

ABU DHABI / WAM The UAE has strongly condemned the explosion that targeted a mosque in the Afghan capital Kabul, resulting in numerous deaths and injuries. In a statement, the Ministry of Foreign Affairs and International Cooperation expressed its utter denunciation of these criminal acts and its rejection of all forms of violence and terrorism, which aim to undermine security ...

Dubai / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Supreme Council of Energy (DSCE), has issued Directive No. 3 of 2021 on the regulation of liquefied petroleum gas (LPG) trading, in order to protect the environment and society, by implementing the highest standards of safety and security. This includes the transportation, storage, and distribution of LPG, ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will participate at this year’s edition of the Arabian Travel Market (ATM), the largest in-person travel and tourism event to physically take place in over a year. Now in its 28th year, ATM 2021 will be delivered in a hybrid format, with an on-ground ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC) launched the first phase of a vaccination programme for tens of thousands of refugees and displaced persons in Jordan and Iraq as part of the medical assistance provided by the UAE’s primary humanitarian arm to help the two nations confront the Covid-19 pandemic and to speed up the recovery drive. This is ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has expressed the UAE’s grave concern over the escalating spiral of violence in Israel and Palestine and offered condolences to all victims of the recent fighting In a statement, HH Sheikh Abdullah bin Zayed said, “The UAE is alarmed by the escalating ...

Sharjah / WAM This year, Sharjah Museums Authority (SMA) is marking International Museum Day with free entry on May 18 to its museums across emirate. SMA will also be hosting a virtual session on that day which will discuss the future of Sharjah’s museums and tourism scene amidst pandemic. Titled ‘The Future of Museums Recover and Reimagine (Real and Virtual ...