Bloomberg Commerzbank AG is imposing more stringent policies for fossil-fuel clients as pressure mounts on the finance industry to stop providing capital to sectors at the heart of global warming. The German lender is giving existing clients that get at least 20 percent of revenue or power production from coal until 2025 to spell out how they’ll exit the ...

  Bloomberg Mexico’s central bank unexpectedly accelerated the pace of interest rate increases, a hawkish move that seeks to contain quickly-deteriorating inflation expectations. Policy makers led by outgoing central bank Governor Alejandro Diaz de Leon raised the benchmark rate by a half-point to 5.5%, their most aggressive hike since February 2017. They surprised all but eight of 25 economists surveyed ...

  Bloomberg For equity investors in South Korea, this was the year the metaverse arrived. Six of the nation’s 10 best-performing stocks in 2021 are linked to the virtual universe or non-fungible tokens, including Wemade Max Co, which has surged 1,500% as it seeks to be a blockchain game developer, and its top holder Wemade Co Virtual effects creator Giantstep ...

  Bloomberg Stocks in Europe edged higher on Wednesday along with US equity-index futures as investors assessed the economic implications of the omicron coronavirus outbreak. Treasuries and the dollar were steady. The Stoxx Europe 600 index nudged to within a whisker of another record, with retailers outperforming. Technology shares declined, following the sector’s retreat in Asia and the US. Contracts ...

  Bloomberg Global remittances will likely grow by $34 billion this year and about $31 billion in 2022, reversing last year’s decline, as economies recover from the impact of the coronavirus pandemic, according to the Asian Development Bank (ADB). Estimated remittance growth of 4.8% globally this year reflects a comparison to last year’s low base, as well as migrant workers’ ...

ABU DHABI / WAM Abu Dhabi Emergency, Crisis and Disasters Committee has updated the procedure to enter the emirate from within the UAE by requiring green pass for vaccinated individuals and a negative PCR test result for those who are not vaccinated. Effective December 30, in addition to using EDE scanners to rapidly detect potential Covid-19 cases, the new entry ...

  Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the general budget for the Emirate of Sharjah of AED 34.422 billion for the fiscal year 2022. The new budget aims to achieve the strategic vision of the Emirate in economic and social development, enhance financial sustainability and ...

  DUBAI / WAM Shaheen H. Al-Ghanem, CEO of Warba Bank, a leading Kuwaiti Islamic Bank, on Tuesday rang the market-opening bell to celebrate the listing of the bank’s $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai, in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). This is the third sukuk listing by Warba ...

  ABU DHABI / WAM The Emirates Development Bank (EDB) has announced that its Business Banking App has supported more than 500 UAE-based SMEs and start-ups by opening accounts for them in less than 48 hours over the past three months, reinforcing its growing demand and the significance. Designed to support the SMEs operating within the UAE, the app offers ...

ABU DHABI / WAM Abu Dhabi-listed tech-focused holding company Multiply Group (Multiply) has signed a binding commitment to invest $75 million in global visual content creator and marketplace Getty Images. With a broad portfolio that includes the Getty Images, iStock and Unsplash brands, the firm reaches and empowers a broad base of retained customers ranging from international enterprises to amateur ...