Bloomberg Chart patterns indicate that a revival in China’s technology stocks is running into key technical tests.The Hang Seng Tech Index has rallied 39% since mid-March through June 10 on bets that Beijing is drawing the curtain down on a regulatory clampdown on the sector. That’s added $441 billion in market value across the 30-member gauge. The index lost ...

  Bloomberg The Indian rupee declined to a new record low and stocks slid as global risk-off sentiment spurred by expectations of aggressive Federal Reserve tightening weighed on emerging-market assets and stoked fears of more equity outflows. The local currency slid as much as 0.6% to 78.2825 per dollar on Monday, after having hit a series of lows in recent ...

  Bloomberg Bitcoin continued its selloff into Asia’s on Monday morning as part of broader declines in cryptocurrencies after a sharp rise in US inflation triggered risk-off sentiment. The world’s largest digital token tumbled as much as 6.4% to $25,593, its lowest level since May 12, in a seventh day of losses. Ether declines as much as 9% to $1,342.32. ...

  Dubai / WAM The Higher Committee of the Al Quoz Creative Zone Development Project held a meeting, presided over by HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council, to review the Project’s progress and achievements in its first year. As part of the ...

Bloomberg Saudi Telecom Co., the most profitable mobile operator in the Middle East, will increase its capital by 30 billion riyals ($8 billion) through the issuance of bonus shares. The stock rises. The company, which is controlled by the kingdom’s sovereign wealth fund, plans to issue 1.5 bonus shares for every existing share, through capitalising retained earnings, according to a ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Vladimir Putin of Russia on his country’s Independence Day celebrations, otherwise known as ‘Russia Day’. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent similar messages ...

  Bloomberg TotalEnergies SE became the first foreign company to win a stake in a multi-billion dollar project to boost Qatar’s gas exports. Qatar is expanding production of liquefied natural gas amid a worldwide energy crunch. Global demand for the fuel is soaring as European nations race to wean themselves off Russian gas supplies in the wake of Moscow’s attack ...

  DUBAI / WAM Mattar Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has confirmed that the use of advanced technology and artificial intelligence (AI) had contributed to improving the public bus service and its operational efficiency. Al Tayer noted that the Remote Bus Performance Monitoring Centre had also contributed to ...

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) is investing in its advanced smart grid and the latest technologies of the Fourth Industrial Revolution to enhance its leadership and global excellence in water network losses and is surpassing its global counterparts. In 2021, Dewa’s water network losses decreased to 5.3 percent. This is one of the best records ...

  Sharjah / WAM The Expo Centre Sharjah has announced that second edition of the ‘Hive Furniture’ Show, the region’s first dedicated event focusing on big box retailers and wholesale traders, is set to kick off on Monday, and run until Thursday, June 16. The new exhibition is part of the Expo Centre’s strategic plans to support the furniture industry, ...