BLOOMBERG A Korean EV battery stock that is the top performer on the country’s small-cap index this year just got its first sell rating, sounding a note of caution for retail investors who have been piling into the sector’s shares. Ecopro Co, the holding company of battery materials supplier Ecopro BM Co, slumped almost 17%, the most intraday since January ...

BLOOMBERG The largest US banks are about to reveal how they fared as customer deposits came under siege in the first quarter. Deposits at JPMorgan Chase & Co, Wells Fargo & Co and Bank of America Corp are expected to have tumbled $521 billion from a year earlier, the biggest drop in a decade, according to analysts’ estimates. The decline ...

BLOOMBERG US equity futures steadied as investors awaited US inflation data that may shed light on the Federal Reserve’s next policy move. Contracts on the S&P 500 erased a small gain to trade flat before the widely-watched report that could stoke fresh volatility. Treasury two-year yields rose, holding above 4%, while the dollar was broadly lower. US headline inflation is ...

ABU DHABI / WAM The Ministry of Economy and Cisco have launched a digitisation initiative as part of the “Entrepreneurial Nation 2.0” programme, aimed at boosting the growth of small and medium enterprises (SMEs) in the UAE. The ‘Scale Up track’ of the initiative offers SMEs the opportunity to participate in the “Cisco Product Innovation Lab” and benefit from Cisco’s ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a letter to President Othman Ghazali of Comoros, which included an invitation to COP28, which will be held in Dubai Expo City this November. The letter was delivered by Saeed Al Maqbali, UAE ambassador to the Comoros.

DUBAI / WAM Dubai International Financial Centre (DIFC) hosted the second Dubai FinTech Summit (DFS) Dialogues, powered by the Innovation Hub, where heads of 10 leading regional banks and fintechs discussed the challenges facing the financial sector and deliberated on how the industry can de-risk and build resilient, sustainable financial institutions. Mohammad AlBlooshi, Head of DIFC Innovation Hub and FinTech ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has partnered with Mashreq Securities to simplify and streamline the digital onboarding process for Mashreq customers, providing them with instant access to trading on the Exchange. The partnership was formalised through a memorandum of understanding (MoU) with Mashreq and an access and process agreement with Mashreq Securities. As part of ...

ABU DHABI / WAM Following the recently expanded air services agreement between the UAE and Canada, Etihad Airways has announced it will increase flights to Toronto. On May 30, Etihad Airways will introduce an additional weekly flight between Abu Dhabi and Toronto, on top of its current six-per-week flight schedule, to offer travellers a daily connection. “Etihad is thrilled to ...

ABU DHABI/ WAM The Ministry of Industry and Advanced Technology (MoIAT), in partnership with Adnoc and Abu Dhabi Future Energy Company (Masdar), has announced that UAE Climate Tech will take place on May 10-11, at the Abu Dhabi Energy Centre. To be held during the UAE Year of Sustainability, the forum will drive momentum to accelerate efforts to reduce emissions ...

ABU DHABI/ WAM Edge, one of the world’s leading and fastest growing advanced technology and defence groups, has announced that it will open a new regional office in Brazil’s federal capital, Brasilia. The new office, which will be managed by a dedicated and experienced team of professionals from within the defence industry and local business ecosystems, is scheduled to open ...