February, 2023

• 22 February

  China to ‘show’ world it can broker Russia-Ukraine peace

  

  Bloomberg A year after declaring a “no-limits” partnership with Russia, China is now seeking to convince the world it’s a neutral actor that can help end the war in Ukraine. It won’t be easy. Chinese State Councilor Wang Yi is set to visit Moscow in the coming days after floating a fresh peace proposal to end the conflict triggered by ...

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• 22 February

  Sri Lanka election commission says lacks funds to hold local elections

  

    Bloomberg Sri Lanka’s election commission has instructed its lawyers to inform the Supreme Court about a lack of funds and the backing needed to hold local elections next month, the head of the government agency said. The commission has not received financial resources and the required support from other agencies, including the government printer and police, for the ballot ...

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• 22 February

  HSBC eyeing special payout on Canada sale after Ping An battle

  

  Bloomberg HSBC Holdings Plc will consider a special payout after the sale of its Canadian unit as the bank attempts to face down a campaign from its top shareholder to pursue a wider break-up of the business. Reporting fourth-quarter results that beat analyst estimates, HSBC said it may pay a special $0.21 dividend next year after the completion of the ...

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• 22 February

  BOK to keep weighing interest rate increases

    Bloomberg The Bank of Korea (BOK) said it will keep considering further interest-rate increases as inflationary pressures are expected to remain elevated for an extended period. The central bank said in a report to parliament on Tuesday that monetary policy needs to remain tight with a focus on reining in consumer prices. Even though inflation is likely to gradually ...

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• 22 February

  Stocks slide on Fed concern

  

    Bloomberg US equity-index futures and European stocks fell as investors worried about the prospects of interest-rates staying higher for longer and a deepening of geopolitical tensions. The dollar rebounded on haven appeal. Contracts on the S&P 500 and Nasdaq 100 indexes dropped at least 0.6% each with US markets set to return from a holiday. European stocks fell as ...

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• 22 February

  Adani selloff drags group’s market value to under $100 billion

  

    Bloomberg The combined equity market value of Adani group’s 10 companies slipped below $100 billion on Tuesday, as the embattled conglomerate struggles to reassure investors following a scathing report by a US short seller. The ports-to-power group has now lost more than $136 billion in market capitalisation since January 24, when US-based Hindenburg Research published a report alleging accounting ...

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• 22 February

  Son has 35% of his SoftBank shares pledged as collateral

    Bloomberg SoftBank Group Corp. founder Masayoshi Son increased the amount of stock pledged as collateral to financial institutions to 175.25 million shares, or about 35% of his total stake in the Japanese conglomerate. The 65-year-old billionaire disclosed an increase of about 4.3 million shares as of February 13, worth about 24.5 billion yen ($183 million) at current prices. This ...

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• 21 February

  Naser Taher awarded ‘chairman of the year’

  

    Dubai The Le Fonti Awards held on Thursday night at The Palace in Downtown Dubai at an international ceremony attended by prominent business leaders from around the globe. The annual awards seek to honor the highest levels of business excellence and are acclaimed across the industry as a true mark of quality. At the ceremony, Multibank Group was honored ...

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• 21 February

  Reem Hills’ recently-launched new phase completely sold out

  

    Abu Dhabi / Gulf Time After its recent phase launch earlier this week, Reem Hills, developed by Q Properties, announces that all available homes in the newly launched phase of the new AED8 billion gated community on Abu Dhabi’s Al Reem Island have been sold out. The phase includes five clusters of luxury residential units, ranging from spacious 3-bedroom ...

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• 21 February

  ERC continues to distribute aid to quake-affected people in Syria

  

  LATAKIA / WAM The Emirates Red Crescent (ERC) is continuing its distribution of humanitarian aid to those affected by the earthquake in Syria. The Emirati philanthropic organisation has intensified its relief efforts to reduce the humanitarian impact of the disaster on the lives of the local population and to alleviate their suffering under extremely difficult conditions, as part of Operation ...

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