BLOOMBERG A slump in the dollar after the Federal Reserve’s latest interest-rate hike will be a breath of fresh air for emerging-market policymakers as it puts a floor under their currencies and eases their efforts to control inflation. The greenback weakened across the board, resuming a downtrend that started in earnest six months ago, and allowing the South Korean won, …

BLOOMBERG Contracts for European equities fell and Asian shares edged lower on Friday as the malaise hanging over the global banking sector damped risk taking in markets. The yen rallied. Euro Stoxx 50 futures declined around 0.7%, while a gauge of Asian shares slid after earlier swings between gains and losses. Financials were among the worst-performing sectors on MSCI Inc’s …

DUBAI / GULF TIME Ramadan is a time for togetherness and reflection, and Homes r Us believes every home has a story to tell. In celebration of the Holy Month, the brand has put together a variety of ideas to help customers reflect on their style. In that spirit, the home décor and furniture brand launched its Ramadan 2023 collection. In this year’s …

BLOOMBERG Xi Jinping’s meetings in Moscow with Vladimir Putin put the Biden administration in an uncomfortable position: on the sidelines as two adversaries discuss a Ukraine peace proposal that the US has deemed unacceptable. US officials have publicly expressed deep skepticism about the Chinese idea, saying its call for a cease-fire would reward Moscow’s invasion by cementing its territorial gains. …

BLOOMBERG Rahul Gandhi, the senior leader of India’s main opposition Congress party, has been convicted by a local court of defamation and sentenced to two years in jail after allegedly making offensive remarks in 2019 about Prime Minister Narendra Modi’s surname. A court in the western city of Surat found Gandhi guilty, but granted him bail and suspended the sentence …

BLOOMBERG UK Prime Minister Rishi Sunak emerged unscathed from a day of Parliamentary drama after convincingly winning a key Brexit vote, while former Premier Boris Johnson cut a defensive figure as he denied lying to lawmakers during the so-called Partygate scandal. Sunak won the vote on a crucial element of the new deal he struck last month with the European …

BLOOMBERG China’s ambassador to Australia has dismissed concerns over a war between the two countries as unrealistic, as defense officials from both governments met for talks in Canberra in the latest sign of a diplomatic thaw. Ambassador Xiao Qian wrote an opinion piece published in the Sydney Morning Herald and the Age newspapers on Thursday, in which he criticised the …

NEW DELHI/ WAM India and Saudi Arabia are jointly working to create an “investment bridge” for accelerating pending bilateral investment projects and facilitating investors. Deliberations towards this objective took place at a meeting in Riyadh between Dr Ausaf Sayeed, Secretary in charge of the Gulf in the Indian Ministry of External Affairs and Saudi Arabia’s Deputy Minister for International Partnerships, …

DUBAI / WAM The Dubai Academic Health Corporation (DAHC), AXDEV Global, and Pfizer Global announced a public-private partnership to enhance care for patients diagnosed with chronic illnesses, supported by an independent grant from Pfizer Global Medical Grants. The goal of the collaboration is to establish an evidence-based model in performance and quality improvement to support the adoption of best practices …

ABU DHABI / WAM In 2022, Hub71, Abu Dhabi’s global tech ecosystem, experienced a remarkable 102% growth in its community, with more than 200 start-ups joining its ranks, including 51 early-stage companies relocating to the UAE’s capital to scale their businesses rapidly. Since its inception, these start-ups have collectively raised nearly AED4.5 billion ($1.2 billion) in venture capital and created …