ABU DHABI / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, said on Wednesday that urgent reform of IFI’s is needed before COP28 begins in November, “to lay the foundation for a successful climate summit.” Dr Al Jaber was speaking at the event — “Creating an International Financial Architecture for the Future: ...

ABU DHABI / WAM The UAE, represented by the Ministry of Finance (MoF) as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced launching a dirham- denominated Islamic Treasury Sukuk (T-Sukuk), with a benchmark auction size of AED1.1 billion. Mohamed bin Hadi Al Hussaini, Minister of State for ...

DUBAI / WAM Integrate Middle East, a significant new learning and networking event for the entire Pro AV and System Integration value chain, is set to highlight the rapid development of the education and training technology (EdTech) market, for the first time at the Dubai World Trade Centre, from May 16-18. As more schools and corporates across the region are ...

BLOOMBERG Political tensions between the US and China are contributing to lower container shipments between the world’s two largest economies, on top of an already-underway reshaping of global trade, according to a major shipping industry boss. “We are seeing a de-leveraging of trade between the US and China,” Jeremy Nixon, chief executive officer of Ocean Network Express, said at the ...

BLOOMBERG Taiwan’s industrial production plunged in March, weighed down by a manufacturing sector struggling to overcome a slump in global demand. Industrial output shrank 14.5% last month compared to a year ago, the Economics Ministry said in a statement. Economists surveyed by Bloomberg had forecast a 12.3% drop. March’s decline was the biggest contraction since May 2009 — in the ...

BLOOMBERG Adani Group bonds rose after a key company started the first debt buyback by Indian billionaire Gautam Adani’s conglomerate since it was targeted by a short seller in January. Adani Ports & Special Economic Zone Ltd plans to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four ...

BLOOMBERG Nippon Life Insurance Co expects the Bank of Japan (BOJ) will adjust its yield-curve control policy in June and will accelerate the purchase of local bond holdings when it does so, according to its annual allocation plan. The central bank will allow benchmark yields trade in a range of 1% around zero, compared to a current cap of 0.5%, ...

BLOOMBERG Chinese President Xi Jinping told Volodymyr Zelenskiy that the only way to achieve peace for Ukraine is through negotiations with Russia. In their first conversation since the Russian invasion last year, Xi also told the Ukrainian leader that China will send an envoy to visit Kyiv. Ukrainian officials said the nearly one-hour conversation was an “important dialogue.” The talks ...

BLOOMBERG President Joe Biden launched the first television ad of his newly launched reelection campaign on Wednesday, backed by a first-week expenditure of more than $250,000 — mostly in six battleground states. The 90-second ad — extraordinarily long in modern television advertising — comes 24 hours after making his candidacy official with an online video. The paid ad echoes many ...

BLOOMBERG The US will strengthen the deterrence it provides South Korea against nuclear threats, securing a pledge from Seoul to honour commitments to not pursue its own atomic arsenal. US President Joe Biden and South Korean President Yoon Suk-yeol will announce the agreement when they meet at the White House, according to senior American administration officials who spoke on condition ...