Bloomberg The Philippine central bank will sustain its rate-hike cycle this quarter, following a surprise move in July, to quell broadening price pressures, according to Bloomberg survey of economists. The benchmark interest rate is expected to increase by another 75 basis points to 4% by the end of September, a survey showed. Bangko Sentral ng Pilipinas is seen to ...

  Bloomberg Australia’s central bank (RBA) signalled further interest-rate increases would come in the period ahead, while restating it will be guided by incoming economic data and the inflation outlook. “The board expects to take further steps in the process of normalising monetary conditions over the months ahead, but it is not on a pre-set path,” minutes of the Reserve ...

  Bloomberg Uruguay’s central bank raised its key interest rate for a ninth consecutive meeting to 10.25% with inflation expectations remaining stubbornly above its target. Policy makers tightened by 50 basis points and signalled more half point hikes later in the year. The increase marked the first time the central bank lifted borrowing costs into the double digits since it ...

  Bloomberg US stock-index futures decline as concerns over the Federal Reserve’s aggressive rate-hike path outweighed robust corporate earnings and China’s stimulus plans. September contracts on the S&P 500 Index slipped 0.5% after the equity benchmark posted modest gains amid a rally in retailer stocks. Nasdaq 100 futures retreated 0.7% signalling a selloff in technology names will continue. The dollar ...

  Bloomberg Tesla Inc whipsawed after a relentless surge that pushed the stock up 50% from its May bottom lost some momentum, with investors broadly souring on growth stocks. The electric-vehicle maker closed down 0.9% at $919.69 after fluctuating throughout the trading session. It jumped as much as 1.7%, taking the stock up 50% from the May 24 closing low ...

  Bloomberg Mounting concern over semiconductor demand is sending shudders through North Asia’s high-tech exporters, which historically serve as a bellwether for international economy. South Korean behemoths Samsung Electronics and SK Hynix Inc. have signaled plans to dial back investment outlays, while across the East China Sea, the world’s biggest contract chipmaker Taiwan Semiconductor Manufacturing Co. indicated a similar expectation. ...

  Abu Dhabi / WAM The UAE is continuing to strengthen its food security system, through a comprehensive range of policies that include promoting cooperation with other countries and markets, diversifying sources, and attracting local and foreign agricultural investment. The country’s food import rate increased by 21 percent in the first half of 2022, recording over 41,000 tonnes of imported ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, sent a written letter to General Evariste Ndayishimiye, President of the Republic of Burundi, congratulating him on the occasion of assuming the presidency of the East African Community. The letter was delivered by Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that its High-Water Usage Alert service has helped to reduce 217,370 tons of carbon emission since its launch three years ago and until June 30. These reductions were from identifying 1,062,781 water leakage reports, 23,199 defects, and 11,566 cases of increased load. The service sends instant notifications to customers ...

  Abu Dhabi / Gulf Time Waha Capital (Waha), an Abu Dhabi-listed investment management company, through its wholly owned subsidiary Waha Land, has agreed to the sale of 17 leased warehouse buildings situated on five plots at the Almarkaz Industrial Development to Peninsula Real Estate Management Limited (Peninsula), a real estate investment company incorporated in Abu Dhabi Global Market, for ...