BLOOMBERG The biggest two-day slide in Chinese stocks this year suggests traders may be losing faith in the market’s rebound as they reassess inherent risks including geopolitical tensions and a fragile economy. The CSI 300 benchmark has closed 1.2% lower to breach a key technical level, led by declines in technology and materials shares. That added to a 2% drop ...

BLOOMBERG European stocks and US equity futures struggled for direction as traders weighed the latest corporate earnings reports at the start of a week packed with economic data that may help illuminate the path for interest rates. The Stoxx Europe 600 was little changed, with energy companies leading declines as crude prices extended last week’s slump. Banks gained, with UBS ...

 DUBAI / GULF TIME Ethmar International Holding (EIH) signed a strategic partnership agreement with EFG Hermes, as part of the preparations for listing EIH as a joint stock company in the UAE stock market. The partnership agreement, whereby EFG Hermes will act as a strategic partner during the private offering process, represents a new milestone in the track record and ...

MIYAZAKI / WAM With hunger levels rising and domestic food prices inflation soaring in much of the world, collective actions are necessary to meet immediate and longer-term global food security objectives, QU Dongyu, Director-General of the Food and Agriculture Organisation of the United Nations (FAO), said on Sunday at the G7 Ministers of Agriculture Meeting, which concluded in Japan. “We ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan exchanged, over the phone, Eid Al Fitr greetings with Mohamed Ould Ghazouani, President of Mauritania; Mohammed Shiaa’ Al Sudani, Prime Minister of the Republic of Iraq; and His Eminence Dr Ahmed el-Tayeb, the Grand Imam of Al-Azhar. During the calls, they prayed to God to bestow His ...

ISTANBUL / WAM The UAE men’s national ice hockey team registered a historic victory and was crowned winner of the 2023 IIHF Ice Hockey World Championship Division II — Group B, held in Türkiye. The UAE team defeated Mexico 9-4 in the fifth and final round. The national team players erupted in cheers and sang the national anthem in the ...

GENEVA / WAM Hydrogen and electric aircraft could require 600-1,700 terawatt-hours (TWh) of clean energy by 2050, according to a new white paper from the World Economic Forum (WEF). For context, the total amount of renewable energy produced in 2021 was just over 8,000 TWh globally. To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would ...

ABU DHABI / WAM Abu Dhabi Marine Sports Club (ADMSC) has signed an agreement with Abu Dhabi Marine for the sponsorship of the 6th Dalma Historical Race Festival (60FT dhow sailing) organised from April 28 to May 7 on Delma Island. Salem Al-Rumaithi, Director-General of the ADMSC, and Capt Saif Al Mheiri, Managing Director of Abu Dhabi Maritime, signed the ...

SHARJAH / WAM The Hamriyah Free Zone Authority (HFZA) in Sharjah has wrapped up three days of successful participation at the International Exhibition and Conference (India Steel 2023), one of the largest and most important steel industry events in the world. The conference, which took place at the Mumbai Exhibition Centre, brought together industry leaders, experts, and stakeholders from around ...

BEIJING / WAM China’s industrial capacity utilisation rate came in at 74.3 percent in Q1 of 2023, down 1.5 percentage points from the same period a year earlier, official data showed, Xinhua News Agency reported. The figure dropped by 1.4 percentage points from the previous quarter, according to the National Bureau of Statistics. Among the three major sectors, the mining ...