February, 2023

• 17 February

  Riksbank deputy chief sees ‘benign’ inflation outlook

  

    Bloomberg Sweden’s Riksbank has “fairly good” prospects to bring inflation back towards its 2% target and avoid persistent price increases, though there will be short-term economic pain, Deputy Governor Per Jansson said. “Unfortunately there is no way out of this situation that doesn’t entail costs,” Jansson said in a speech in Stockholm. “It will be tough, no question about ...

  Read More »
• 17 February

  Hosie is Credit Suisse new global equities head

    Bloomberg Credit Suisse Group AG named Neil Hosie to lead the bank’s global equities team, amid ongoing management turnover and restructuring at the investment bank unit. Hosie will be based in London and report to co-head of markets, Michael Ebert, according to an internal memo seen by Bloomberg News that was confirmed by a spokeswoman. Hosie, who has been ...

  Read More »
• 17 February

  Morgan Stanley bullish on euro as economy can bear more hikes

  

  Bloomberg A closely-watched interest-rate metric has convinced Morgan Stanley strategists that the euro area can withstand further increases in borrowing costs, boosting their bullish view on the single currency. The near-term forward spread — the difference between the three-month rate and where investors see it in 18 months’ time — is inverted for markets including the US and New Zealand, ...

  Read More »
• 17 February

  Stocks drop on hawkish rate fears; dollar rallies

  

    Bloomberg US equity futures and European stocks dropped in the face of hawkish comments from Federal Reserve and European Central Bank (ECB) officials that ramped up investors’ expectations of higher interest rates. The dollar rallied and bonds fell. Contracts for both the S&P 500 and Nasdaq 100 retreated after the underlying indexes sank more than 1% on February 16. ...

  Read More »
• 17 February

  Hard landing to hit stocks in second half of 2023, says BofA

  

  Bloomberg The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. (BofA) strategists, who say a resilient economy thus far means interest rates will stay higher for longer. A team led by Michael Hartnett is among those predicting a scenario known as “no landing” in the ...

  Read More »
• 17 February

  Q launches new phase of Reem Hills gated community

  

    Abu Dhabi / Gulf Time Following the success of Phase One and Phase Two of the Reem Hills luxury residential community on Al Reem Island, Abu Dhabi, Q Properties, a subsidiary of Q Holding, announced the launch of a new phase of the leading gated community in the heart of the capital. “This project was designed to embody our ...

  Read More »
• 17 February

  UAE offers condolences over New Zealand cyclone victims

    Abu Dhabi / WAM The UAE has expressed its sincere condolences and solidarity with New Zealand for the victims of cyclone Gabrielle, which swept across the country and killed a number of people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the government of New Zealand, its people ...

  Read More »
• 17 February

  Written premiums of UAE’s insurance firms hit AED29b

  

    Abu Dhabi / WAM In 2022, the total written premiums for insurance firms listed in local financial markets increased on an annual basis by 13%, equivalent to AED3.34 billion while net profits reached AED1.52 billion. According to a report by the Emirates News Agency on the disclosures of 29 listed national insurance companies of their financial results on financial ...

  Read More »
• 17 February

  Annual upstream oil, gas investment needs to rise 28% to $640b by 2030

  

    Riyadh / WAM Annual upstream oil and gas investment needs to rise by 28% to reach $640 billion by 2030 to ensure adequate global supplies, according to a new report published by the International Energy Forum (IEF) and S&P Global Commodity Insights, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets. Capital ...

  Read More »
• 17 February

  Investopia signs strategic partnership with Mubadala

  

    DUBAI / WAM Investopia, the global investment platform launched by the UAE government, and Mubadala, the sovereign investor, announced a strategic partnership focused on Investopia’s second annual event, which will take place on March 2-3 in Abu Dhabi, under the theme “Envisioning Opportunities in Times of Change”. This strategic partnership will build on the successful participation of Khaldoon Al ...

  Read More »