Bloomberg European Central Bank (ECB) President Christine Lagarde said policymakers mustn’t let up in their battle with inflation — even as the spike in prices appears to have peaked. “We have to also stay that course of resilience that we observed in 2022,” Lagarde told a panel on Friday at Davos. “‘Stay the course’ is my mantra for monetary-policy ...

Bloomberg National Australia Bank Ltd (NAB) has created its own stablecoin pegged to the Australian dollar, a move it says will help large institutional customers with transactions that use blockchain technology. The Melbourne-based lender will start testing the token — named AUDN — before expanding its use cases and getting feedback on the needs of corporate clients, National Australia said ...

  Bloomberg Pakistan’s central bank governor Jameel Ahmad said the nation will see dollar inflows in the coming days after funding commitments from some nations, a move that could bolster finances for cash-strapped nation. The central bank’s biggest strain is limited resources, Ahmad said at an event hosted by the Karachi Chamber of Commerce & Industry. The governor also said ...

  Bloomberg The number of bankers and traders in the European Union (EU) earning more than €1 million ($1.1 million) rose to a record in 2021 as securities firms took in bumper revenue and investment banks relocated staff to the bloc after Brexit. The number of such “high earners” surged 42% from the previous year to 1,957, the European Banking ...

  Bloomberg This year’s extension of the powerful European equities rally leaves limited room for more gains, according to strategists. After making its best ever start to a year, the Stoxx 600 Index will end 2023 at 452 points, according an average response in the Bloomberg survey of 19 market forecasters, implying a 1.2% drop. That’s even after several investment ...

  Bloomberg US equity-index futures rose driven by brightening prospects for technology companies, while the dollar advanced amid concern over hawkish central banks, worsening economic data and earnings hiccups. Contracts on the Nasdaq 100 jumped 0.7%, climbing twice as fast as futures on the S&P 500 Index. In premarket New York trading, Google parent Alphabet Inc. rose after revealing a ...

  Abu Dhabi / WAM Abu Dhabi Chemicals Derivatives Company RSC Ltd (Ta’ziz) and Proman AG (Proman), one of the world’s leading producers of methanol, signed a shareholders’ agreement to develop the UAE’s first world-scale methanol production facility at the Ta’ziz Industrial Chemicals Zone in Al Ruways Industrial City, Abu Dhabi. The facility has an anticipated annual capacity of up ...

  Abu Dhabi / WAM Shargiil Bashir, Chief Sustainability Officer at First Abu Dhabi Bank (FAB), said that the bank facilitated over AED25.7 billion ($7 billion) for sustainable projects in 2022, noting that the bank has made significant progress by financing many projects across the energy supply, buildings, transportation, waste, water, and food sectors. In statements to the Emirates News ...

  Abu Dhabi / WAM Mubadala Energy has signed a memorandum of understanding with OMV Downstream GmbH (OMV) and Pak-Arab Refinery Limited (Parco) to explore opportunities in sustainable fuels and feedstock production in Pakistan. Under this agreement, the firms will explore the possibility of pursuing projects in circular economy initiatives, including plastics production and recycling, sustainable fuels and feedstock as ...

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) oversaw the signing of a memorandum of understanding (MoU) at Abu Dhabi Sustainability Week (ADSW), which will lay the groundwork for new plastic recycling facility in the UAE. Under the plans, a 12,000 tonnes per annum polyethylene terephthalate (PET) recycling plant has been earmarked for Abu Dhabi. ...