BLOOMBERG This year’s 20% rally in US technology stocks is decoupling from reality ahead of what’s predicted to be a gloomy reporting season, the latest MLIV Pulse survey shows. While investors have flocked to tech in the market shakeup amid recent banking turmoil, the rotation is at odds with analyst calls for the steepest drop in quarterly profits for the ...

TUNIS / WAM Tunisia’s cumulative tourist revenues exceeded the 1 billion-dinar milestone in Q1 of 2023, climbing 64% compared to the same period last year, according to data published by the Central Bank of Tunisia (BCT). Cumulative labour income also saw an 8.5% increase, reaching 1.9 billion dinars, against 1.7 billion dinars at the end of March 2022, Tunis Afrique ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) welcomed 1,839 new companies in the first quarter of 2023, representing 122% growth compared to the same period in 2022, indicating a strong start to the year for the economic zone. Rakez Group CEO Ramy Jallad commented on this achievement: “We are thrilled to welcome 1,839 new companies to ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has separately received two high-level diplomatic delegations from Bahrain and Cuba to discuss best practices and regulations for serving the interests of its members and the private sector in Sharjah and the UAE. The meetings also focussed on enhancing economic relations between business communities and exploring investment opportunities in ...

ABU DHABI / WAM The United Arab Emirates, represented by the Ministry of Finance (MoF), is participating in the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which will be held in Washington from April 10-16. The UAE delegation is headed by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs. ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and the US Secretary of State Antony J Blinken, have reviewed the latest developments in the Middle East. This came in a phone call between the two ministers, during which the UAE’s top diplomat emphasised on the importance of stopping escalation between ...

ABU DHABI / WAM HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has become a global leader in humanitarian work, with its efforts to lend a helping hand sometimes continuing for days and months on end. In a statement ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, honoured the winners of the fourth edition of the Mohammed bin Rashid Medal for Scientific Distinction, which recognises accomplished scientists and researchers. The award ceremony, held at the Za’abeel Palace, was attended by His Highness Sheikh Maktoum ...

FUJAIRAH / WAM HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, has affirmed that the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was an icon of giving and humanitarianism, and a force for good that benefitted all of humanity. In a statement marking Zayed Humanitarian Work Day, Sheikh Hamad said that ...

BLOOMBERG  The Bank of England (BOE) Chief Economist Huw Pill said officials may need to raise interest rates even as inflation falls to prevent resurgence in prices caused by households and companies trying to claw back their lost income. Inflation is set to drop sharply from the current 10.4% level in the coming months due to lower energy prices and ...