January, 2023

• 19 January

  BofA freezes most hiring to control costs, guard against downturn

  

    Bloomberg Bank of America Corp (BofA) started telling executives to pause hiring except for the most vital positions, as it tries to keep a lid on costs and prepare for a possible economic downturn. The move is an escalation of the company’s decision late last year to slow hiring after fewer employees decided to leave of their own accord, ...

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• 19 January

  Norway’s central bank pauses rate hiking

    Bloomberg Norway’s central bank paused monetary tightening while signalling a likely quarter-point increase in borrowing costs in March is still needed to bring inflation under control. Norges Bank kept the key deposit rate on hold at 2.75% on Thursday, as forecast by the majority of economists in a Bloomberg survey. Governor Ida Wolden Bache said the benchmark “will most ...

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• 19 January

  Treasuries rise, stocks slide on global recession worries

  

    Bloomberg Treasuries rallied and equities declined as growing signs of a global economic slowdown raised investor concern that the start-of-the-year rally in risk assets may have gone too far. Contracts on the S&P 500 Index dropped 0.4% after the benchmark slumped the most in a month on Wednesday amid weaker-than-expected economic data. Nasdaq 100 futures also lost 0.4%. Europe’s ...

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• 19 January

  Tesla drops out of top ten stocks in $1.3bn Korean EV fund

  

    Bloomberg Tesla Inc dropped out of the top 10 holdings of a South Korean electric-vehicle (EV) mutual fund for the first time ever amid its epic selloff last year. The Korea Investment Management Co. fund has steadily reduced its Tesla exposure to less than 2% of its net asset value in order to reduce volatility. The US EV giant previously ...

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• 19 January

  Sheikh Mohamed, US Vice President discuss ties

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, received a phone call from Kamala Harris, Vice President of the United States, on the occasion of the first anniversary of the Houthi terrorist attacks on some civilian sites and facilities in the UAE during the past year. During the call, Vice President Harris affirmed her ...

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• 19 January

  Dubai completed 55 realty projects worth $3.24 billion

  

  Dubai / WAM Dubai’s real estate sector ended another exceptional year with annual transactions setting new records, marking the sector as a major contributor to the goals of the Dubai Economic Agenda D33 announced recently by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agenda outlines ambitious ...

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• 19 January

  AD Ports, KazMunayGas partner to develop marine, tanker fleet

  

    Abu Dhabi / WAM In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, AD Ports Group signed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a memorandum of understanding (MoU) with the Kazakhstan Ministry of Industry and Infrastructural Development for strategic cooperation in ...

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• 19 January

  Masdar, Dewa to back UAE sustainability objectives

  

    Abu Dhabi / WAM Abu Dhabi Sustainability Week (ADSW) and Dubai Electricity and Water Authority (Dewa) announced on Wednesday the signing of a three-year partnership agreement to sponsor annual Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show. The agreement was signed at ADSW 2023 by Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of ...

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• 19 January

  Etihad, Satavia sign multi-year commercial deal

  Abu Dhabi / WAM Etihad Airways, the national carrier of the UAE, has signed a ground-breaking contrail management contract with Satavia, a leading UK-based green aerospace firm. The partnership will build on a previous proof-of-concept engagement to expand the scope for contrail management within day-to-day flight operations. The partnership also incorporates an agreement to collaborate on the generation of future ...

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• 19 January

  UAE President hosts meeting wth GCC, Jordan, Egypt leaders

  

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Wednesday held a fraternal consultative meeting with leaders of a number of brotherly countries. His Highness Sheikh Mohamed held the meeting with Sultan Haitham bin Tariq of Oman; King Hamad bin Isa Al Khalifa of Bahrain; Emir Sheikh Tamim bin Hamad Al-Thani of Qatar; King Abdullah ...

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