BLOOMBERG  The European Central Bank (ECB) said that financial markets will be vulnerable to negative shocks as it continues the fight against inflation, with real estate among the sectors at risk. Higher interest rates are testing the resilience of households, companies, governments and property markets, the institution said on Wednesday in its biannual Financial Stability Review. That’s leaves investors potentially …

BLOOMBERG  Thailand’s central bank raised its benchmark interest rate to the highest level in eight years, while making a case for retaining a tightening bias to anchor inflation firmly in the tourism-fuelled economy. The Bank of Thailand’s (BOT) Monetary Policy Committee (MPC) voted unanimously to raise the one-day repurchase rate by 25 basis points to 2% on Wednesday, as seen by …

BLOOMBERG  Citigroup Inc has begun to see signs of a rebound in investment banking, with an agreement to avert a US debt default poised to further boost deal volumes. The company had already begun to see a pickup in both investment-grade debt and equity underwriting, Tyler Dickson, co-head of Citigroup’s banking, capital markets and advisory unit, said in a Bloomberg …

DUBAI / WAM A delegation representing the UAE Ministry of Culture and Youth reviewed the country’s effort in protecting cultural property, harnessing tangible heritage for a sustainable future, its strategy to promote the creative economy and the cultural industries and leveraging digital technologies in protecting culture and heritage at the second G20 Culture Working Group (CWG) meeting in Bhubaneshwar, India, …

ABU DHABI / WAM The Ministry of Finance (MoF) has issued three new Ministerial Decisions for the purposes of Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses. These include Ministerial Decision No 132 of 2023 on Transfers within a Qualifying Group, Ministerial Decision No 133 of 2023 on Business Restructuring Relief, and Ministerial Decision No …

ABU DHABI / WAM AD Ports Group has announced the signing of a memorandum of understanding with Abu Dhabi Residents Office (Adro), Abu Dhabi Department of Economic Development’s arm to support the emirate’s thriving international community, to promote the benefits and initiatives which aim to attract and retain top talent in Abu Dhabi. The partnership will develop a joint strategy …

ABU DHABI / WAM Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice, received Stefan Blättler, Attorney-General of Switzerland, Massimo Badji, Swiss ambassador to the UAE, and the accompanying delegation. The meeting, which took place at the Minister of Justice’s office in Abu Dhabi, touched upon means to support judicial cooperation between the two friendly countries, especially in the …

ABU DHABI / WAM Khalifa Shaheen Al Marar, Minister of State and Envoy of the Minister of Foreign Affairs, conducted an official visit to the Iranian capital Tehran, during which he met with Hossein Amir-Abdollahian, Minister of Foreign Affairs of the Islamic Republic of Iran; Ali Bagheri Kani, Deputy Foreign Minister for Political Affairs; and Dr Mahdi Safari, Deputy Foreign …

ABU DHABI / WAM Burjeel Holdings has announced that its flagship Burjeel Medical City was selected for membership in the Worldwide Innovative Networking in Personalised Cancer Medicine (WIN) Consortium. This achievement marks another significant milestone for the healthcare provider as it continues to expand its network and expertise in the field of oncology and further strengthen its position as a …

ABU DHABI / WAM In a strong show of support for local companies in the manufacturing sector, Emirates Development Bank (“EDB” or “the Bank”), the financial engine for UAE economic development and industrial advancement, today unveiled a comprehensive set of approvals for financing deals totaling AED424 million. The announcement was made at the ‘Make it in the Emirates’ Forum, held …