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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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. …
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Abu Dhabi / WAM Etihad Airways, the national airline of the United Arab Emirates, is ramping up flights between Abu Dhabi and Jakarta from daily to double-daily. From October 1, business and leisure travellers can look forward to 14 weekly non-stop flights between Abu Dhabi and the Indonesian capital, providing more choice, flexibility and convenience. The flights will be …
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Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) has confirmed the launch of the second mission of the UAE Astronaut Programme which is scheduled for no earlier than February 26. Aboard SpaceX Crew Dragon spacecraft, Sultan Al Neyadi along with two astronauts will launch to International Space Station from Launch Complex 39A at Nasa’s Kennedy Space Center …
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