BLOOMBERG Markets pointed to a recovery from a selloff on Wall Street as traders pinned hopes on talks in Washington to break a deadlock on raising the debt ceiling. The dollar climbed to the highest in more than five weeks. US stock futures rose and Treasuries steadied as White House and congressional negotiators continued to try to resolve their differences. ...

ABU DHABI / WAM Abu Dhabi Terminals (ADT) has announced that it has set a record by exceeding 10 million man-hours without lost time injury (LTI) and by handling 20 million twenty-foot equivalent units (TEU) containers. These achievements represent major milestones for ADT since inception. Recording more than 10 million man-hours without LTI is rare across the industry and reflects ...

ABU DHABI / WAM Alcoa and Emirates Global Aluminium (EGA) have announced a new multi-year agreement, with Alcoa set to supply EGA with smelter grade alumina. The agreement, spanning eight years starting in 2024, includes volume options that enable EGA to procure up to 15.6 million metric tonnes of alumina from Western Australia. This supply agreement represents a substantial portion ...

ABU DHABI / WAM Etihad Airways announced that it will fly to Osaka five times per week beginning from October 1. “We are delighted to introduce flights to Osaka for the first time,” said Antonoaldo Neves, Chief Executive Officer of Etihad Airways. “As one of the world’s most cosmopolitan cities, I know visitors will enjoy exploring its heritage and sampling ...

ABU DHABI / WAM Al Seer Marine, the global player across multiple marine sectors and a subsidiary of the International Holding Company (IHC), has secured a major cornerstone investment in Adnoc Logistics & Services PLC, the global energy maritime logistics leader with share value of AED 257 million ($70 million). The move comes as part of the company’s strategy to ...

ABU DHABI / WAM Adnoc Logistics & Services, a global energy maritime logistics leader, on Tuesday announced the offer price range and the opening of the subscription period for its initial public offering (IPO) on the ADX. The price range for the offering has been set between AED1.99 to AED2.01 per share, implying an equity value of $4.01 billion to ...

DUBAI / WAM In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to develop an integrated system to support the growth of family businesses, HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of ...

BLOOMBERG  Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, with China taking the biggest hit as deteriorating relations with the US and weaker economic growth curb dealmaking, people familiar with the matter said. The bank is likely to start communicating with affected bankers as soon as this week, with more than 40 jobs at risk, ...

BLOOMBERG  Global central banks tapped a record amount of the Chinese currency in foreign-exchange swap lines in the first quarter, in another indication of the yuan’s growing international status. The outstanding balance of all foreign currency swaps was 109 billion yuan ($15.6 billion) at the end of March, according to data released by the People’s Bank of China (PBOC). That ...

ABU DHABI / WAM Dr Bader Abdullah Al Matrooshi, UAE ambassador to Vietnam, met with General To Lam, Minister of Public Security of Vietnam. During the meeting, they discussed strengthening relations between the two countries in areas of common interest. Al Matrooshi stressed the depth of relations between the two countries and the keenness of the UAE leadership to reinforce ...