BLOOMBERG The yen briefly weakened beyond 150 against the dollar again as the wide yield gap between Japan and the US continues to weigh on this year’s worst-performing major currency. It touched 150.11 per the greenback in early Asian trading on Monday before quickly recovering amid weight from options-related dollar selling and suggestions of algorithmic transactions. It was little changed ...

BLOOMBERG European stocks fell as the 10-year yield on Treasuries hit 5% for the first time since 2007. Europe’s Stoxx 600 index sank 0.4% and S&P 500 equity futures edged lower. The yield on the US 10-year note rose nine basis points as investors bet signs of a strong economy will keep interest rates higher for longer. Oil slipped to ...

BLOOMBERG In the ballroom of the five-star Shangri-La Singapore hotel, Anthony Tan celebrated a triumph for the country’s up-and-coming tech scene. “Today we shine a spotlight on Southeast Asia!” he told the adoring crowd. His company, Grab, the region’s answer to Uber, was about to make its stock market debut. Tan had launched Grab Holdings Ltd in 2012, just as ...

ABU DHABI/ WAM Abu Dhabi Fund for Development (ADFD) participated in the inauguration ceremony of the Gudule General Hospital in Juba, South Sudan. The AED36.73 million (US$10 million) project was funded by ADFD from a UAE development grant. This initiative aims to support the healthcare sector in South Sudan by establishing a 60-bed hospital containing modern equipment to meet the ...

GUANGZHOU/ WAM Abdulla bin Touq Al Marri, Minister of Economy, participated in the first GCC-China economy and trade ministerial conference held in Guangzhou, China, in the presence of Jasem Mohamed AlBudaiwi, GCC Secretary General, ministers of economy and trade of GCC countries, and Wang Wen Tao, Chinese Minister of Trade. Bin Touq said that under the guidance of its wise ...

ABU DHABI/ WAM Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu Dhabi announced the signing of a land lease agreement with Advanced Petro Services (APS), a leading provider of specialised services in the energy industry. KEZAD’s world-class industrial ecosystem is equipped with state-of-the-art infrastructure and services, which perfectly supports Advanced Petro Services’ ...

ABU DHABI/ WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today visited His Majesty King Hamad bin Isa Al Khalifa of the Kingdom of Bahrain at his residence in Abu Dhabi. During the meeting, the two leaders engaged in talks that reaffirmed the longstanding ties between the UAE and Bahrain, with both nations sharing a commitment to bolster ...

ABU DHABI/ WAM Abdullah bin Touq Al Marri, Minister of Economy, has announced that the Gulf Cooperation Council (GCC) countries will roll out a unified Gulf tourist visa within the next two years, which will allow visa holders to travel across the six Gulf countries. Al Marri said the seventh meeting of GCC tourism ministers in Oman has unanimously endorsed ...

DUBAI/ WAM The Artificial Intelligence, Digital Economy and Remote Work Applications Office has announced a strategic collaboration with the Abu Dhabi Global Market Academy (ADGMA) to facilitate the opportunity for 5,000 national talents to benefit from the academy’s digital programme during the Global Dev Slam at GITEX Global 2023. Saqr bin Ghalib, Executive Director at the Artificial Intelligence, Digital Economy, ...

ABU DHABI/ WAM EDGE, one of the world’s leading advanced technology groups for defence and beyond, will reinforce its presence in Southeast Asia by participating in the 11th edition of Defense & Security 2023, the Association of Southeast Asian Nations’ (ASEAN) most significant biennial tri-service exhibition, conference, and networking event, held in Bangkok, Thailand. Over the course of the four-day ...