BLOOMBERG Investors are demanding a higher premium for US debt most at risk of default after yet another round of talks on the borrowing limit ended without a deal. Yields on four-week Treasury bills climbed 3.5 basis points on Tuesday, bringing their rise since the beginning of May to more than 60 basis points. The two-year Treasury yield increased 7 …

BLOOMBERG Adani Group’s port unit became the first of its 10 entities to recoup all losses triggered by Hindenburg Research’s bombshell report in late January, as a recent rally in the conglomerate’s stocks gathered steam on Tuesday. All 10 Adani stocks climbed in early in Mumbai trading, with shares of Adani Ports and Special Economic Zone Ltd surging as much …

ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) has announced a collaboration with the government of Uzbekistan to explore strategic opportunities for investment in Uzbekistan’s power sector. These opportunities include new and existing power plants as well as associated power infrastructure and collectively could be worth more than $3 billion. A strategic framework agreement and an implementation agreement …

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Monday received a phone call from Australian Prime Minister Anthony Albanese, during which the two leaders discussed bilateral relations and opportunities for further collaboration. In addition to exploring ways to build on the strategic partnership between the UAE and Australia, His Highness Sheikh Mohamed bin …

NEW YORK / WAM Fortress Investment Group (Fortress) and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital (Mubadala Capital), on Monday announced that they have entered into definitive agreements to acquire 90.01 percent of the equity of Fortress that is currently held by SoftBank Group Corp, who have been the owners of Fortress since 2017. Terms …

KUALA LUMPUR / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met Anwar Ibrahim, Prime Minister of Malaysia, in Kuala Lumpur, to discuss opportunities to further strengthen the close friendship and cooperation between the UAE and the Malaysia to benefit both countries and their people. The meeting took place during a welcome …

BLOOMBERG  JPMorgan Chase & Co boosted its outlook for the boon from higher interest rates after its purchase of First Republic Bank. The biggest US bank raised its guidance for net interest income this year to $84 billion, excluding its trading business, up from a previous forecast of $81 billion, according to an Investor Day presentation on its website. The …

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has written to Rodrigo Chaves, President of the Republic of Costa Rica, with an invitation to the COP28 climate change conference to be held at Expo City Dubai in November. The invitation was presented to President Chaves by Rawdha Alotaiba, UAE ambassador to Costa Rica, at …

CAIRO / WAM The UAE International Investors Council (UAEIIC) has signed a memorandum of understanding (MoU) with the Egyptian-Emirati Business Council (EEBC) to enhance the existing investment partnerships. The MoU also aims at creating more investment opportunities in the sectors of the new economy, green projects, recycling, clean projects, the technological sector, new digital technologies and other areas of common …

DUBAI / WAM Sheikha Bodour bint Sultan Al Qasimi, the President of the American University of Sharjah (AUS), has been honored as one of Fast Company Middle East’s Most Creative People in Business 2023, specifically recognised in the “Bringing Good Things to More People” category. Expressing her gratitude upon receiving the award, Sheikha Bodour humbly acknowledged the recognition, expressing surprise …