Britain’s financial watchdog has been consulting private equity firms about the effects on the companies and their investors of rising rates and the bond market tumult triggered by the government’s failed mini-budget, the Financial Times (FT) reported on Sunday. Officials at the Financial Conduct Authority (FCA) contacted several buyout groups to try to find out how badly the turmoil had ...

The US budget deficit falls by a record in the 2022 financial year, a second straight drop that reflects the drying up of Covid-related aid spending alongside a surge in revenues propelled by the wage and employment gains. The deficit for the fiscal year through September narrowed to $1.38 trillion, from a revised $2.78 trillion the previous year, according to ...

TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban. That’s the conclusion of former national security officials and other experts as the Justice Department reviews an accord that would keep the popular video-streaming app, ...

Mobileye Global Inc, the self-driving technology company owned by Intel Corp, is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings. Intel had lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month. The company plans to ...

Mercedes-Benz Group AG is broadening its battery-powered line-up with a sport utility vehicle (SUV) that will take on Tesla Inc.’s Model Y in another step towards the automaker’s goal to go all-electric by the end of the decade. The EQE SUV, unveiled on the eve of the Paris car show, will edge out the cheaper Model Y with 590 kilometers ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) continued its strong growth trajectory during the first three quarters of 2022, recording a 16.9 percent surge in its benchmark index, the FTSE ADX 15 (FADX 15). The growth was driven by a rising number of institutional and individual investors on the exchange, a trading uptick on ADX’s fast-growing ...

  Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation summoned the ambassador of the Kingdom of the Netherlands to the UAE and informed him of the UAE’s strong protest and denunciation of the interference of his country’s ambassador to the Hashemite Kingdom of Jordan in Jordan’s internal affairs. The ministry affirmed the UAE’s solidarity with the ...

Dubai / WAM Hessa bint Essa Buhumaid, Minister of Community Development, and Ayman Al-Mufleh, Jordanian Minister of Social Development, signed a memorandum of understanding (MoU) on cooperation in social development issues between the governments of the UAE and Jordan covering seven areas. The areas include rehabilitation and empowerment of persons with disabilities (people of determination), family development, productive families, protection ...

  Abu Dhabi / WAM To mark the arrival of the first-ever hydrogen-based ammonia test cargo from the UAE to Germany, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, along with Dr. Robert Habeck, German Vice Chancellor and Federal Minister for Economy and Climate Action, on Friday attend a ...

  Abu Dhabi / WAM Safeen group’s offshore division, part of AD Ports group, has announced the acquisition of a support vessel to enhance the group’s subsea service capabilities. Built in 2014, the vessel will operate under the name ‘Safeen Surveyor’ and will undergo an extensive conversion prior to commencing operations, including installation of an integrated dive system to support ...