BLOOMBERG The rally in the S&P 500 has been driven by only a handful of stocks, putting the index at risk of fresh lows if bond yields rise, according to Morgan Stanley’s Michael Wilson — one of the most bearish voices on Wall Street. The percentage of stocks outperforming the S&P 500 on a three-month rolling basis is the lowest …
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ABU DHABI / GULF TIME Harmony Medical Group, which specialises in dentistry, and pioneers in the health scene in the UAE capital, Abu Dhabi, held a special iftar party at the Four Seasons Hotel, Al Maryah Island, Abu Dhabi. The event was attended by Their Excellences: Sheikh Ahmed bin Hamdan bin Mohammed Al Nahyan, and Sheikh Nasser bin Mohammed Al …
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DUBAI / GULF TIME Get ready to be blown away by the ultimate Eid celebration at IMG Worlds of Adventure! Brace yourself for an unforgettable adventure at the bright, feisty 1.5 million square feet of the temperature-controlled indoor theme park with 6 epic zones. It is all set to take you on a thrilling journey filled with excitement and wonder. …
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DUBAI / GULF TIME Celebrations are starting early at OliOli(R) with the return of the iconic Museum of the Moon, to mark the last days of Ramadan and the joyous Eid al Fitr. The 5-meter replica of the moon, created by world-renowned artist Luke Jerram, will take over OliOli(R)’s Creative Lab, where families are invited to bask in the glory …
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BLOOMBERG Beleaguered US regional banks are assessing whether bond sales to replace lost deposits are worth the cost, as credit investors weigh whether they’re worth the risk. The arrival of quarterly bank earnings reports has spurred speculation on which financial institutions will brave an unpredictable bond market. Average corporate note yields jumped above 6% in the past 12 months and …
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BLOOMBERG The Swiss National Bank (SNB) may need to raise borrowing costs more, according to President Thomas Jordan. “We can’t exclude that we might have to tighten monetary policy again,†Jordan told reporters in Washington, where he’s attending meetings of the International Monetary Fund (IMF) and World Bank. The SNB has increased interest rates by 225 basis points in the …
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BLOOMBERG A quarter-point increase in interest rates is the most the European Central Bank (ECB) has to deliver at its next meeting, Governing Council member Mario Centeno said, playing down concerns over the strength of underlying inflation. Either a pause, or a slowdown in the pace of hikes is possible as headline price gains in the euro zone retreat and …
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ABU DHABI / WAM Former Sudanese Prime Minister Abdallah Hamdok warned in Abu Dhabi on Sunday that Sudan is at a ‘“catastrophic†moment as a result of the ongoing war and called the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) to immediately cease hostilities and announce a truce that allows safe corridors for citizens to move and …
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DUBAI / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, announced the launch of the Hub Nub app, a new government communications mechanism that facilitates instant, reliable and effective communication between Dubai government leaders and decision makers. Developed by Digital Dubai, the Hub Nub app serves …
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DUBAI / WAM The foreign trade sector in Dubai is actively pursuing the goals outlined in the Dubai Economic Agenda D33. This initiative was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with the objective of doubling Dubai’s economy over the next decade and solidifying its …
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