BLOOMBERG The outlook is set to darken for the dollar in 2024, but the sturdy US economy and high yields will likely support the currency’s valuation, according to Goldman Sachs Group Inc strategists led by Kamakshya Trivedi. The greenback is still up about 1.6% this year, after slipping from its 2023 highs set last month. It’s on track for a ...

BLOOMBERG One of the most high-profile blockchain systems in traditional banking has added a new feature that lets companies shift cash automatically. JPMorgan Chase & Co’s JPM Coin now allows clients to program their accounts by plugging in a set of key conditions, enabling them to move funds to cover overdue payments and margin calls. Further down the line, it ...

BLOOMBERG Sony Group Corp raised its full-year outlook for sales and profit after its media divisions outperformed, yet warned that it might be difficult to meet a target for PlayStation 5 sales ahead of the crucial year-end holiday season. Sony is now targeting net sales of ¥12.4 trillion ($82.1 billion) in the year ending March, up from ¥12.2 trillion and ...

BLOOMBERG Meta Platforms Inc, Apple Inc, Alphabet Inc and other companies that offer digital wallets and payment apps would fall under US Consumer Financial Protection Bureau (CFPB) supervision under a newly proposed rule aimed at treating nonbanks more like traditional counterparts. Companies handling more than 5 million transactions per year would be regulated like banks, credit unions, and other financial ...

DUBAI / WAM Dubai Electricity and Water Authority’s (Dewa) commitment to sustainable transportation is aligned with the broader goals of the UAE and the Emirate of Dubai. This commitment underscores the nation’s dedication to fostering innovation in renewable energy, clean energy, and sustainability. Consequently, Dewa has prioritised sustainable transport and its advocates within the UAE and globally at the Water, ...

ABU DHABI / WAM Noura bint Mohammed Al Kaabi, Minister of State, led the UAE delegation participating in the 6th edition of the Paris Peace Forum, which is being held under the theme “Seeking Common Ground in a World of Rivalry”. The forum was attended by Emmanuel Macron, President of the Republic of France. Al Kaabi and the UAE delegation ...

DUBAI / WAM The World of Coffee Dubai 2024, one of the most anticipated events in the coffee industry, is organised by DXB Live, the integrated event management and experiential agency of the Dubai World Trade Centre, announced a wide range of specialised activities that aims at boosting cooperation and partnerships between the exhibitors and visitors while exploring opportunities in ...

DUBAI / WAM Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the biggest edition of the Dubai Airshow, the world’s leading event for the aerospace, space and defence industries, will begin on November 13 at Dubai World Central (DWC). Under the theme ‘The Future of the Aerospace Industry’, ...

SHARJAH / WAM Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment, and COP28 Food Systems Lead, confirmed that UAE places the global transformation to sustainable agricultural and food systems at the top of its agenda priorities during the COP28, scheduled to be held in the UAE later this month. This came during Almheiri’s participation in the panel ...

ABU DHABI / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-designate, praised India, the current host of the Presidency of the G20, for its energy transition vision. At the ‘From G20 to COP28,’ special forum held in Abu Dhabi, Dr Al Jaber said the UAE and India shared a “vision for embracing ...