February, 2023

• 2 February

  Barclays, Deutsche set to top European bond trading surge

  

    Bloomberg For the fifth straight quarter, European banks are set to match or beat Wall Street rivals after a debt trading surge last year saw revenues surge by almost 30%. Six of the region’s top investment banks — led by Barclays Plc and Deutsche Bank AG — are expected to show an average 29% increase in bond and currency ...

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• 2 February

  Zopa bank raises $92m to accelerate growth in 2023

    Bloomberg Zopa Ltd. has completed a funding round of £75 million ($92 million) and is on the lookout for deals as early as this quarter. The raise from existing investors “cements” the UK fintech’s status as a unicorn with a valuation of $1 billion, the bank said on Thursday. Zopa, backed by investors including Softbank’s Vision Fund and Northzone, ...

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• 2 February

  Adani crisis deepens as stock rout hits $108bn, bonds sink

  

    Bloomberg Gautam Adani’s businesses have lost $108 billion in a week, one of the biggest wipeouts in India’s history, after an explosive report by short-seller Hindenburg Research forced him to pull a stock sale at the 11th hour and led some lenders to reject his securities as collateral for client trades. Adani, who last year became the world’s second-richest ...

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• 2 February

  European stocks, US futures extend rally

  

    Bloomberg European stocks climbed with US equity futures, building on Wall Street’s advance after Federal Reserve Chair Jerome Powell said the central bank had made progress in its battle against inflation. The Stoxx Europe 600 index added about 0.6%, with traders now looking ahead to the European Central Bank’s policy decision after mixed inflation data reignited debate about how ...

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• 2 February

  Investopia partners with US fintech platform iConnections

  

  MIAMI / WAM Investopia, a global investment platform launched by the UAE government, announced a partnership with iConnections, a leading financial technology platform, at the iConnections Global Alts 2023 event in Miami. The partnership allows Investopia’s investment community, including asset allocators, private equity, and hedge funds, to leverage iConnections’ digital capabilities to connect and thrive. The partnership is in line ...

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• 2 February

  Opec+ keeps output steady on China, Russia uncertainty

  

  Bloomberg An Opec+ committee recommended keeping crude production steady as the oil market awaits clarity on demand in China and supplies from Russia. Saudi Arabia and its partners will continue to hold output at levels set late last year, when they announced a hefty cutback of 2 million barrels a day to balance markets amid a fragile economy, according to ...

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• 2 February

  Agthia group posts 14% rise in 2022 net profit

  

    Abu Dhabi / WAM Agthia group PJSC announced preliminary and unaudited results for the fiscal year ending December 31, 2022, reporting a rise of 14% year-on-year (YoY) in net profit to AED247 million. According to its report, the group’s net revenue increased 33% YoY to AED4.07 billion, with growth of 97% on a two-year basis. Revenue growth from our ...

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• 2 February

  UAE, Ireland to stimulate mutual investments in emerging sectors

  

  Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy, has highlighted the strong and solid relations shared between the UAE and Ireland with Dara Calleary, Irish Minister of State for Trade Promotion and Digital Transformation. In a meeting with Calleary – during the Irish government trade mission visit to the UAE – Al Marri said that these ...

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• 2 February

  Enoc to build world-class storage facility in Tanzania

  

  DAR ES SALAAM / WAM Enoc group and Tanzania’s Ministry of Energy have signed an MoU to build a national import gateway and oil and gas storage facility in Tanzania to serve the country and the Eastern and Central Africa region. The agreement supports the UAE’s 2023 priorities to expand economic partnerships in Africa and its goal of doubling the ...

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• 2 February

  Dubai sees 5.5% growth in energy demand in 2022

    Dubai / WAM Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), announced a 5.5% increase in energy demand in Dubai for 2022, reaching 53,180 GWh compared to 50,401 GWh in 2021. The increase reflects the robust performance of Dubai’s economy, population growth, and expansion across all key activities. In line with the vision ...

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