Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol said interest rates are still accommodative after two hikes since August, suggesting further tightening is in the pipeline as inflation risks mount in the recovering economy. The board considered the price pressures building in the economy and financial imbalances when it decided to raise rates by 25 basis points to 1%, Lee ...

Bloomberg The explosive growth in sustainability-linked loans has exposed a number of shortcomings that need to be resolved in order to avoid greenwashing, according to the global head of sustainable finance at Danske Bank. As things stand now, there are “clear risks,” Samu Slotte, who’s based in Danske’s Helsinki office, said in an interview. “There is room for improvement.” Among ...

Bloomberg New Zealand’s central bank will be closely watching inflation expectations to determine whether it needs to raise interest rates at a faster pace, Assistant Governor Christian Hawkesby said. “Inflation expectations are going to be absolutely key for us,” Hawkesby said in an interview with Bloomberg Television in Wellington. “There are things that could make us go faster, and I ...

Bloomberg Stocks in Europe rebounded and US equity futures rose along with Treasury yields as a semblance of calm returned to global markets while investors reconsidered their worst-case scenarios for the omicron coronavirus strain. The Stoxx Europe 600 index jumped more than 1%, recovering some of their worst drop in more than a year, with travel and energy stocks leading ...

Bloomberg The fate of global markets now depends at least in part on laboratories around the world probing the omicron Covid-19 strain, potentially leaving investors with weeks of uncertainty in the wait for answers. The variant detected in Africa is described as highly worrying and international travel bans are proliferating. Scientists are analysing whether it can evade inoculations and the ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved AED3.8 billion housing projects in Dubai. As part of the new projects, 2,000 plots of land will be distributed to Emirati citizens together with 900 ready-made villas. The projects also include an AED 500 million ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA) and GE Gas Power signed a memorandum of understanding (MoU) develop a roadmap to reduce greenhouse gas emissions from the operation of EGA’s existing GE natural gas turbines by exploring hydrogen as a fuel, as well as carbon capture, utilisation, and storage solutions. The MoU was signed by Abdulnasser bin Kalban, CEP ...

Abu Dhabi / WAM In commemoration of the UAE National Day 2021, Emirates Post Group (EPG) has raised the bar on postage stamp issuance by becoming the first in the region to issue non-fungible token (NFT) stamps. Each of the four NFT stamps carries a distinct design centered on the UAE national theme. The first one is a premium edition ...

Abu Dhabi / WAM American companies are creating a framework for future jobs, which is a new area of cooperation between the US and the UAE, a senior executive of an American business body told Emirates News Agency (WAM). “We’re actually creating a curriculum in American companies for jobs that don’t exist. So, the US and the UAE are having ...

ABU DHABI / WAM The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICA) has signed an explanatory memorandum with the General Administration of Customs of China, that includes a joint mechanism for implementing the Mutual Recognition Agreement of the Authorised Economic Operator Programme. The move aims at enhancing customs and trade cooperation; exchanging experiences, benefits, facilities, and customs ...