Bloomberg Pakistan’s rupee slumped to a fresh record ahead of a visit by the International Monetary Fund (IMF) team for negotiations over the resumption of its $6.5 billion bailout program. The rupee fell for a sixth straight day, according to data compiled by Bloomberg. It traded as low as 269 per dollar on Monday, according to the foreign-exchange desk at AKD ...

  Bloomberg Bank of New York Mellon Corp. (BNY) wants to do money managers’ trading for them with a new outsourcing service aimed at helping buy-side firms cut costs. The move builds on the trading that BNY Mellon already handles for $1.8 trillion of assets it manages, the firm said in a statement. The bank will target current and prospective ...

  Bloomberg Americans stashed more money away last month, pulling back on discretionary spending amid a cloudier economic outlook. The saving rate rose for a third month to 3.4% in December 2022, the highest level in seven months, according to Commerce Department data. Last month’s increase from 2.9% in November marked biggest jump since July 2021. Savings are creeping back ...

Bloomberg Dozens of Nigerians queued at an ATM machine in the heart of the country’s commercial hub to get new higher denomination naira notes ahead of a February 10 deadline that will render old bills expired. The ATM belonging to Guaranty Trust Bank Plc was the only one dispensing the new notes on one of the busiest streets in the ...

  Bloomberg Shares in Europe declined on Monday along with US equity futures as a note of caution crept in at the start of a week marked by interest-rate decisions and big-name company earnings on both sides of the Atlantic. The Stoxx Europe 600 index dropped about 0.6%, taking some of the luster off what was shaping to be the ...

  Bloomberg Taiwan’s benchmark stock gauge entered a bull market as trading resumed after the Lunar New Year holidays, with a broad rebound in chip shares boosting foreign buying in the market. The Taiwan dollar also strengthened. The benchmark Taiex index rose 3.8% on Monday, its best day since May 2021. That took gains from an October low to 22%. ...

  QUITO / WAM A delegation from the Emirates News Agency (WAM) discussed ways of boosting cooperation with media organisations in Ecuador. The discussions took place during a visit that the WAM delegation, led by Mohammed Jalal Al Rayssi, Director-General of WAM, made to the cities of Quito and Guayaquil in Ecuador, to review the outcomes of the inaugural the ...

  Dubai / WAM The Federal Tax Authority (FTA) launched the ‘Tax Support’ initiative to raise tax awareness among business sectors in the UAE through direct and sustained contact, as a means to enhance compliance with tax laws and regulations. The first workshop for 2023 under the initiative was held as a collaboration between the FTA and On Time Business ...

Sharjah / WAM The Sharjah Electricity, Water and Gas Authority (Sewa) installed 955 lighting poles to Al Bataeh cycling track project, which operate according to the best specifications. The project was completed in a record time of no more than two and a half months, in implementation of the directives of HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme ...

  Abu Dhabi / WAM Attended by HH Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, CEO of Alliances for Global Sustainability, the UAE Circular Economy Council convened its meeting, presided over by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment to discuss ‘Year of Sustainability’ initiatives and COP28. In her welcoming note, Mariam bint Mohammed Almheiri ...