Bloomberg China’s yuan fixings have steadied over the past week, spurring speculation that the central bank wants to cap currency losses using a method last seen in the US-China trade war in 2019. The People’s Bank of China (PBOC) set the yuan reference rate near 7.1 per dollar for a seventh session, a move that would support the currency around ...

  Bloomberg UK bonds surged to head for their biggest weekly rally in a decade on mounting expectations the government is preparing an imminent retreat from plans for vast unfunded tax cuts. The rally came at the end of another tumultuous week for markets, with both bonds and the pound yo-yoing on changing sentiment. UK Prime Minister Liz Truss is ...

Bloomberg A shift towards private markets is cushioning many of the world’s largest investors from the wreckage wrought by runaway inflation and spiralling interest rates. The big question now looming over giants from China’s $1.2 trillion sovereign wealth fund to California’s public pension, the largest in the US, is how long those private bets will remain insulated as the economic ...

  Abu Dhabi / WAM Maqta Gateway, the digital arm of AD Ports group, Emirates Post Group, the official postal operator for the UAE, and SkyGo, an aerial logistics provider, are set to trial a new initiative that would provide a comprehensive aerial drone delivery and other services in Abu Dhabi. The three organisations will collaborate on a trial programme ...

  Abu Dhabi / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, the 21st World Congress of the International Society on Toxinology (IST), will be organised by Amsaal, the first of its kind company in the Middle East, during October 16-21 in Abu Dhabi. The event is ...

  Abu Dhabi / WAM du, from Emirates Integrated Telecommunications Company (EITC), is partnering with Masdar City, a global leader in sustainable innovation and development, to build a 5G Centre of Excellence (CoE) in Masdar City, Abu Dhabi. The memorandum of understanding (MoU) was signed at Gitex Global 2022, where du is presenting an innovative showcase under the theme “Powering ...

Dubai / WAM Bernard Caiazzo, President of the World Corporate Summit, said the UAE has the appropriate vision and components that will make it a source of innovation and inspiration for the future of international sports investing. The World Corporate Summit signed a memorandum of understanding (MoU) with Investopia, a new investment platform established by the UAE government in September ...

  Abu Dhabi / WAM Statistics Centre – Abu Dhabi (Scad) has signed service agreements with government entities in Abu Dhabi to strengthen data collaboration and provide statistical analyses using artificial intelligence (AI) applications and simulation models that can achieve efficient management of resources in Abu Dhabi. Under the agreements, the entities will get access to the SCAD’s Insights and ...

  Dubai / WAM Enoc Link, an Enoc group innovative digital venture company, on Thursday launched its newest eLink station, located in Living Legends, a residential community in Dubailand. The new eLink station, located in the Andalusia Courtyard, will offer residents and visitors to the community and neighbouring areas easy access and convenient fuelling services from 7 am to 11 ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday the award of a contract worth $980 million (AED3.6 billion) to Adnoc Drilling to hire two jack-up offshore rigs and associated manpower and equipment. The contract, awarded by Adnoc Offshore, will support the expansion of Adnoc’s production capacity as it responds to the growing global demand ...