Bloomberg China’s sovereign bonds have defied expectations for a selloff all year but their day of reckoning may be getting closer. The amount of cash in the banking system has been shrinking, while local government debt sales are set to double this week, hoovering up more funds. As a result, the overnight interbank interest rate rises to the highest level ...

Bloomberg Treasuries rise with the US dollar as investors debated the impact of resurgent inflation on monetary policy, while US index futures stalled with stocks near record highs. The 10-year yield falls back to 1.56% area with focus turning towards Thursday’s consumer-price data that may offer clues on how far the Federal Reserve can postpone a tapering of stimulus. Futures ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of the Democratic Republic of the Congo, Felix Tshisekedi, reviewed the prospects of growing economic, trade and investment cooperation between the two friendly nations. This came in a phone call His Highness ...

Bloomberg Oil slipped after touching $70 a barrel in New York for the first time since October 2018 as a rally driven by signs of a tightening market eased. Futures jumped 5% last week but were unable to rise beyond $70 on Monday. Europe’s cities are as congested as they were in 2019, and the number of passengers passing through ...

Bloomberg Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc and Goldman Sachs Group Inc for its first dollar-denominated Islamic bond sale. The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. The firm is raising cash to help fund its commitment to ...

ABU DHABI / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), sent on Monday 960 tonnes of urgent medical and food items to alleviate the humanitarian repercussions for about 20,000 families in the Gaza Strip. Implementing the directives of the Emirati leadership, the UAE sent 33 shipments through the Rafah Border Crossing, as part of the ...

ABU DHABI / WAM Five organisations that specialise in gauging global competitiveness have ranked the UAE among the top 20 countries 2020 across 13 indexes related to transport, adding to the country’s track record in this sector. The UAE has been making tireless efforts to drive its sustainable development while also preserving the environment. The UAE Vision 2021 comprises guidelines ...

DUBAI / WAM Boksha, an Emirati-founded tech startup, has secured $1 million from a group of investors, which includes Sandooq Al Watan and family offices. Founded in 2018, the platform is the largest online marketplace for independent fashion designers in the region offering Khaleeji themes. This is the company’s first raise; it has bootstrapped itself since then to offering over ...

SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 02. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

Abu Dhabi / WAM S&P Global Ratings has assigned ‘AA-‘ long-term issuer credit rating with stable outlook to Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda. The bank has also been assigned a ‘gcAAA’ long-term GCC regional scale rating by S&P Global Ratings, said a statement issued by EDB on Monday. ...