Bloomberg UniCredit has agreed to terminate a swap transaction with authorities in Sicily to end a dispute over deals entered into in 2005 and 2006. The transactions served to hedge Sicily’s long-term debt obligations. Both sides won’t be making any further comment on the resolution of the dispute, the Italian lender said in a statement. Disputes between a number banks ...

Bloomberg Deutsche Bank AG is targeting more business in the Nordic market by utilizing its balance sheet and bringing in additional bankers, according to the region’s chief executive officer. “We are selectively hiring, but also putting capital and balance sheet behind the right type of opportunities,” Jan Olsson said in a phone interview from London. The Nordic region “really stands ...

Bloomberg The yen dropped to a three-year low against the dollar, with analysts forecasting more weakness ahead as the nation’s yield differentials widen. The currency slipped as much as 0.5% to 112.75 per dollar on Monday, the weakest since December 2018, with Sumitomo Mitsui Banking Corp and Credit Agricole CIB predicting the yen could drop all the way to 115, ...

Bloomberg US futures dipped with European stocks as the highest oil prices since 2014 stirred fears that a spreading energy crunch will derail the global pandemic recovery. West Texas Intermediate crude rises past $80 a barrel and China’s coal futures reached a record as flooding shuttered mines. European equities were modestly lower, with declines led by travel and property firms. ...

Bloomberg Surging energy prices are kindling bullish bets on developing-nation exporters, with Russia emerging as traders’ favourite investment destination. Russia’s ruble has gained more than any other emerging-market currency this month, bolstered by the prospect of higher oil revenues, while the nation’s stocks outperformed as a broad gauge of developing equities sank. It marks an abrupt change of pace for ...

DUBAI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has affirmed that Expo 2020 Dubai embodies the aspirations of the GCC countries towards a promising and prosperous future, and “reflects a history of joint Gulf action with an inspiring and rich path that led us to achieve qualitative achievements across all ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree appointing Dr Maryam Buti Al Suwaidi, as the CEO of the Securities and Commodities Authority (SCA) at the grade of Under-Secretary. Dr Maryam Al Suwaidi is the first woman to occupy this position in the history of the Securities and Commodities Authority. ...

Dubai / WAM In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a vital player in global economic development and one of the smartest and happiest cities in the world, the Government of Dubai’s Department of Finance (DoF) on Sunday announced ...

ABU DHABI / WAM Abdullah Mohamed Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry, discussed with Maria Camilleri Calleja, Malta’s Ambassador to the UAE, the prospects of expanding economic cooperation between businesses in Abu Dhabi and Malta. This came during a meeting held at the Chamber’s headquarters in Abu Dhabi, in the presence of Mohamed Helal Al ...

MEXICO CITY / WAM Ahmed Hatem Al Menhali, UAE Ambassador to Mexico, has met with Tatiana Clouthier, Mexico’s Secretary of Economy, and Victor Villalobos, Mexico’s Secretary of Agriculture and Rural Development, to discuss ways to enhance cooperation between the two countries. During his meeting with the Mexican ministers, which took place on the sidelines of a forum organised by Mexico’s ...