Bloomberg President Joe Biden plans to allow a pandemic-related ban on visas for certain temporary workers, enacted by former President Donald Trump, to expire Wednesday, according to people familiar with the matter. The moratorium, which affected H-1B visas used by technology companies to hire foreign coders and engineers, was imposed last June. Biden is opting not to renew it, said ...

Bloomberg Pakistan’s government will resume trade with India, in the latest sign that tensions are easing between the two nations. Prime Minister Imran Khan’s economic coordination committee approved importing cotton yarn until June, Finance Minister Muhammad Hammad Azhar said at a briefing in Islamabad on Wednesday. It will also purchase 500,000 tons of sugar to help stabilise prices since the ...

Bloomberg Standard Chartered Plc will formalise a hybrid working model for most of its UK staff as it moves forward with a sweeping overhaul of its working practices in the wake of the pandemic. The lender is rolling out the program to its 85,000 staff globally after 84% of the first wave of workers asked to keep the flexible arrangements ...

Bloomberg New Zealand’s central bank has eased restrictions on bank dividend payments, allowing them to distribute as much as 50% of net income to shareholders. The decision partially reverses steps the Reserve Bank took in April last year to provide more credit to the economy via the banking system. The remaining 50% limit will be lifted in July 2022 subject ...

Bloomberg Deliveroo Holdings Plc shares plunged as much as 31%, the worst performance in decades for a big UK initial public offering, dealing a blow to London’s efforts to establish itself as a hub for technology listings in the wake of Brexit. The stock dropped 23% to 299.55 pence at 9:49 am in London after the 1.5 billion-pound ($2.1 billion) ...

Bloomberg Treasury yields rise with commodities before US President Joe Biden unveils an economic plan including a $2 trillion infrastructure boost. Stocks were mixed as traders weighed inflation and the tax impact of the new plan. US index futures and European stocks were little changed after Asia’s equity benchmark posted a second-day decline. The dollar fluctuated between gains and losses, ...

DUBAI / WAM The UAE’s economy stands on the verge of a new era. One that will be marked with a dynamic industrial growth spurred by a raft of new local and foreign investments. This, thanks to the launch of “Operation 300bn”, the new strategy from the Ministry of Industry and Advanced Technology (MoIAT) which seeks to fortify the nation’s ...

Bloomberg Oil falls alongside a strengthening dollar as near-term risks to the demand recovery emerged ahead of a Opec+ meeting this week to decide on output policy. Futures in New York fall as much as 2.6%, with the Bloomberg Dollar Spot Index rising to the highest since November, thereby reducing the appeal of commodities priced in the currency. Weaker US ...

DUBAI / WAM Khalifa Fund for Enterprise Development and the Etihad Credit Insurance (ECI), the UAE federal export credit company partnered to shore up the export capabilities of the country’s small and medium enterprises (SMEs). A Memorandum of Understanding (MoU) was signed by Mouza Obaid Al Nasri, Acting CEO of Khalifa Fund and Massimo Falcioni, CEO of the ECI. The ...

Sharjah / WAM A new partnership between the Sharjah Entrepreneurship Centre (Sheraa) and Sharjah FDI Office (Invest in Sharjah) is poised to take Sharjah’s ecosystem offerings to the next level. The entities signed a Memorandum of Understanding, which paves the way for a series of strategic moves they will be jointly making to accelerate UAE’s post-Covid recovery. The core objective ...