BLOOMBERG Investors should avoid US stocks as expectations of a recession have become universal, according to Bank  of America Corp’s (BofA) Michael Hartnett. The strategist is specifically negative on technology shares, which have a higher concentration in the US than international markets, as they’re set to come under pressure from increased regulatory scrutiny and higher interest rates. That’s already starting ...

BLOOMBERG US equity future and bonds slumped as inflation once again took centre stage and traders mulled the likelihood of multiple interest rate hikes this year. Contracts on the Nasdaq 100 and S&P 500 fell following comments from Federal Reserve Governor Christopher Waller who said he favoured more policy tightening in the central bank’s battle with inflation. Swaps traders are ...

DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Honorary Chairman of Young Arab Leaders (YAL), affirmed that enhancing the leadership and influential role of youth, as well as empowering them with the necessary tools and innovative skills, are key pillars of growth in Arab countries. These pillars are essential for successfully ...

ABU DHABI / WAM The Abu Dhabi Waste Management Company (Tadweer) has enhanced its operations to meet the increase in food waste during Ramadan. The emirate of Abu Dhabi is expected to see a total 5-8 percent increase in food waste, amounting to around 1,000 to 1,500 tonnes, by the end of the month of Ramadan. Tadweer’s optimised operations during ...

MONTREAL /DUBAI/ WAM Air Canada has announced the strategic expansion of its international network with the addition of new, non-stop flights from its hub at Vancouver International Airport (YVR) to Dubai. The new route will operate four times weekly beginning from October 28, onboard Air Canada’s flagship Dreamliner fleet, according to an Air Canada press release. The carrier’s new Vancouver-Dubai ...

ABU DHABI / WAM The Supreme Council for Motherhood and Childhood has expanded the scope of its humanitarian initiative, “From the UAE’s Children to the children of the World” that it had previously launched in collaboration with the Emirates Red Crescent (ERC) Authority. The quake-hit children Türkiye and Syria will get the donations collected through the campaign this year. Since ...

DUBAI / GULF TIME Terra Solis Dubai is set to host 3rd Eye Rising – An Electronic Dance Music Event on April 23, featuring some of the biggest names in the International arena – Astrix, Sajanka and Animato, along with local favorites, Frequent Flyers. Performing in the UAE for the first time, Astrix has become one of the most sought-after ...

ABU DHABI / GULF TIME The National Aquarium announced that Pristine Seas: Bringing the Ocean Back, an audio visual exhibition curated by the National Geographic, will open at the aquarium in Al Qana, the liveliest waterfront destination in Abu Dhabi, this Eid (April 21). The exhibition draws upon over a decade worth of global expeditions conducted by the National Geographic ...

ABU DHABI / GULF TIME Ethmar International Holding (EIH) has signed a strategic partnership agreement with Ajman Bank, one of the leading Islamic financial institutions in the UAE, as part of the preparations for listing EIH as a joint stock company in the UAE stock market. The partnership agreement, whereby Ajman Bank will act as a strategic partner during the ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, welcomed the agreement to resume diplomatic relations between the Kingdom of Bahrain and the State of Qatar, stressing that it is an important step towards supporting the efforts to advance joint Gulf action, for a brighter future for the GCC countries ...