April, 2023

• 13 April

  Chinese diplomat says US must change attitude before any talks

  

  BLOOMBERG A veteran Chinese diplomat warned that unless the US fundamentally changes its attitude towards the nation, there’s no point in talks on ways to safeguard the relationship. “China-US relations are very much strained,” said Xu Bu, head of the China Institute of International Studies, a think tank affiliated with the country’s foreign ministry. “One of the most important causes ...

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• 13 April

  Estonian spy agency warns of Russian efforts to recruit refugees

  

  BLOOMBERG Russian security services have stepped up attempts to recruit Ukrainian refugees traveling to Estonia, the Baltic nation’s counterintelligence agency said in an annual report. The EU country bordering Russia provided refugee status to 45,000 Ukrainians fleeing Russia’s invasion. It’s one of the biggest influxes seen by any country on a per-capita basis, with many of the displaced Ukrainians arriving ...

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• 13 April

  Xi hosts Lula in diplomatic push for Ukraine ceasefire

  

  BLOOMBERG Brazil President Luiz Inacio Lula da Silva arrives in China as President Xi Jinping seeks to build momentum for talks to halt fighting in Ukraine more than a year after Russia’s invasion. Lula’s trip to Shanghai and Beijing comes as Xi embarks on a round of diplomacy in the weeks after visiting Moscow, where he strengthened political ties with ...

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• 13 April

  Korean EV battery stock that rallied 647% gets first sell rating

  

  BLOOMBERG A Korean EV battery stock that is the top performer on the country’s small-cap index this year just got its first sell rating, sounding a note of caution for retail investors who have been piling into the sector’s shares. Ecopro Co, the holding company of battery materials supplier Ecopro BM Co, slumped almost 17%, the most intraday since January ...

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• 13 April

  Top US banks to reveal $521b deposit drop, most in decade

  

  BLOOMBERG The largest US banks are about to reveal how they fared as customer deposits came under siege in the first quarter. Deposits at JPMorgan Chase & Co, Wells Fargo & Co and Bank of America Corp are expected to have tumbled $521 billion from a year earlier, the biggest drop in a decade, according to analysts’ estimates. The decline ...

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• 13 April

  US equity futures steady  before inflation lands

  

  BLOOMBERG US equity futures steadied as investors awaited US inflation data that may shed light on the Federal Reserve’s next policy move. Contracts on the S&P 500 erased a small gain to trade flat before the widely-watched report that could stoke fresh volatility. Treasury two-year yields rose, holding above 4%, while the dollar was broadly lower. US headline inflation is ...

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• 12 April

  UAE ministry, Cisco collaborate to launch digitisation initiatives for growth of SMEs

  

  ABU DHABI / WAM The Ministry of Economy and Cisco have launched a digitisation initiative as part of the “Entrepreneurial Nation 2.0” programme, aimed at boosting the growth of small and medium enterprises (SMEs) in the UAE. The ‘Scale Up track’ of the initiative offers SMEs the opportunity to participate in the “Cisco Product Innovation Lab” and benefit from Cisco’s ...

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• 12 April

  UAE President sends written letter including invitation to COP28 to Union of Comoros President

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a letter to President Othman Ghazali of Comoros, which included an invitation to COP28, which will be held in Dubai Expo City this November. The letter was delivered by Saeed Al Maqbali, UAE ambassador to the Comoros.

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• 12 April

  Fintechs, banks unite for innovation at DIFC event

  

  DUBAI / WAM Dubai International Financial Centre (DIFC) hosted the second Dubai FinTech Summit (DFS) Dialogues, powered by the Innovation Hub, where heads of 10 leading regional banks and fintechs discussed the challenges facing the financial sector and deliberated on how the industry can de-risk and build resilient, sustainable financial institutions. Mohammad AlBlooshi, Head of DIFC Innovation Hub and FinTech ...

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• 12 April

  ADX, Mashreq partner to offer instant trading access to clients

  

  ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has partnered with Mashreq Securities to simplify and streamline the digital onboarding process for Mashreq customers, providing them with instant access to trading on the Exchange. The partnership was formalised through a memorandum of understanding (MoU) with Mashreq and an access and process agreement with Mashreq Securities. As part of ...

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