Bloomberg Sudan’s central bank said on Sunday it was implementing a unified exchange rate system, part of broader measures aimed at reviving its struggling economy. The central bank instructed banks and exchange bureaus to adopt the new system with immediate effect, according to a statement on its website. The move aims to curb volatility in the exchange rate at a ...

Bloomberg While technology stocks continue to front Asia’s equity rally, one hot sector from 2020 has fallen to the bottom of the leaderboard: health care. Essentially flat year-to-date, a gauge of the sector is the worst-performing in Asia, lagging the region’s benchmark by eight percentage points. It is on track to underperform the MSCI Asia Pacific Index for a third ...

Bloomberg The obstacles to higher yields in the world’s biggest debt market are slowly melting away. Bond bears appear to be having more than just a moment here at the start of 2021, with Treasury yields finally busting out of long-held ranges to levels last seen in the early days of the pandemic. Most Wall Street analysts see yields gliding ...

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Teleworking Applications, has said that the Government of the UAE, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has become an inspiring role model for those governments seeking to move into the future, ...

Bloomberg Oil fell to the lowest in a week as output slowly resumed in Texas, while margins for processing gasoline surged as Gulf Coast refineries are seen taking weeks to restart operations after the deep freeze. Crude futures in New York plunged $1.28, its biggest decline in dollar terms since late December. Producers including Marathon Oil Corp are using restored ...

ABU DHABI / WAM Under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the International Defence Conference 2021 started on Saturday in Abu Dhabi. The conference was held for the first time in a hybrid format, with attendees being welcomed virtually and in-person. The conference, held at the Adnoc Business Center, brought together over 24 experts ...

ABU DHABI / WAM The United Arab Emirates has expressed its grave concern over the deteriorating situation in the Somali capital, Mogadishu, as a result of ongoing violence and the excessive use of force against civilians. In a statement, the Ministry of Foreign Affairs and International Cooperation called upon the interim government and all parties to demonstrate the highest levels ...

ABU DHABI / WAM The Abu Dhabi Chamber of Commerce and Industry, in cooperation with the Embassy of Maldives in Abu Dhabi, organised a webinar on Maldives investment opportunities. The webinar was attended by Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber, along with a number Maldivian ministers and officials. The webinar held a detailed presentation on potential ...

SHARJAH / WAM The Sharjah Consultative Council (SCC) has called for encouraging investment in the Emirate of Sharjah. To increase investment, the SCC seeks to provide facilities and information, while directing investors and promoting these facilities through various media outlets with periodic economic reports in all sectors to enhance investor trends for investment and development, pointing out the importance of ...

DUBAI / WAM DP World, UAE Region and its flagship trade and logistics hub, Jafza, are set to participate in Gulfood 2021, scheduled to take place from February 21-25 at Dubai World Trade Centre. The entities will shed light on their wide range of incentives and the enhanced F&B trade enabling capabilities of their logistics hub, including Jebel Ali Port ...