NEW YORK/ WAM Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, today opened trading on Wall Street for the day at the New York Stock Exchange (NYSE). In ringing the bell at the heart of the financial world, Dr. Al Jaber had a clear and decisive message: the private sector must play its ...

DUBAI/ GULF TIME Danube Properties’ latest project Oceanz has sold out one of the two towers at launch due to growing investor trust in the developer’s strong property delivery credentials. The Dh2.5 billion Oceanz project was unveiled at an exclusive launch event where selected investors and home buyers from all over the world snapped up the launched units at the ...

BLOOMBERG Charles Schwab Corp said it has been temporarily affected by attrition from clients as it integrates TD Ameritrade, leading to a decline in net new money for the firm last month. The company had $4.9 billion of total core net new assets in August, a 64% decline from July and 89% from a year earlier, the company said. Core ...

BLOOMBERG UBS Group AG’s decision to completely integrate Credit Suisse’s domestic business brings with it a task that’s notorious for running behind schedule and over budget. Just ask Deutsche Bank. The Swiss lender must now figure out how to bring over some 1.5 million client accounts from Credit Suisse into its own IT framework. Depending on the state of the ...

BLOOMBERG China’s central bank ramped up efforts to accelerate an economic recovery, releasing more cash into markets as data show fresh encouraging signs for the country’s growth momentum. The People’s Bank of China (PBOC) added a net 191 billion yuan ($26.3 billion) into the financial system via a one-year policy loan, a day after announcing another cut to lenders’ reserve ...

BLOOMBERG Stocks fell as traders took risk off the table ahead of a raft of policy decisions this week that will reveal how major central banks view progress in the fight against inflation. Societe Generale SA slumped as much as 8.4% and was among the biggest drags on Europe’s Stoxx 600 Index after the French lender’s strategic plan included cuts ...

BLOOMBERG Chinese stocks listed in Hong Kong began the week with losses as persistent concerns about the health of the property sector offset optimism spurred by signs of stabilisation in some other parts of the economy. The Hang Seng China Enterprises Index slid 1.6% on Monday. On the mainland, the CSI 300 Index fell to its lowest level this year ...

ABU DHABI / WAM Fertiglobe, the strategic partnership between Adnoc and OCI Global, on Monday announced that it has signed a non-binding memorandum of understanding with AD Ports Group to explore logistics and supply chain opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE. The two companies will explore opportunities to leverage AD Ports ...

DUBAI / WAM AstraZeneca inaugurated its new sustainable offices in Dubai Science Park, a member of the Tecom Group PJSC. The offices mark a critical milestone along the company’s carbon footprint reduction journey in the UAE. The offices are part of a raft of measures by AstraZeneca to accelerate the transition to sustainable healthcare in the UAE, aligned with the ...

ABU DHABI / WAM Hamid AlZaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF), revealed that the UAE has completed a comprehensive review of AML/CFT progress made in the first half of 2023 which shows significant improvement across the board. In a statement to the Emirates News Agency (WAM), AlZaabi stressed that the review’s ...