February, 2023

• 8 February

  BNP Paribas plans $5.4b of buybacks after US unit sale

  

    Bloomberg BNP Paribas SA plans to buy back €5 billion ($5.4 billion) of shares after the sale of its US unit, and raised its profitability targets as traders posted a quarter that beat many Wall Street peers. The Paris-based bank is set to distribute about €4 billion related to the sale of Bank of the West and €962 million ...

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• 8 February

  India raises cost of borrowing to 6.5%

    Bloomberg India’s central bank (RBI) slowed the pace of interest-rate increases while keeping the door open for further policy tightening to curb core inflation. The RBI’s six-member Monetary Policy Committee voted 4-2 to raise benchmark repurchase rate by a widely expected quarter-point to 6.50%, slowing from the 35 basis-point hike in December. The panel also retained its stance of withdrawing ...

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• 8 February

  US futures retreat, stocks advance; oil extends gain

  

    Bloomberg US futures retreat amid mixed earnings reports, while stocks caught up with late advances on Wall Street spurred by a sanguine rates outlook. Oil extended an advance. Contracts on the three major US gauges fell, following Tuesday’s rally after Federal Reserve Chair Jerome Powell refrained from pushing back against investor optimism. Chipotle Mexican Grill Inc. dropped in premarket ...

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• 8 February

  Masayoshi Son now owes SoftBank group’s $5.1 billion on side deals

  

  Bloomberg Masayoshi Son is now personally on the hook for about $5.1 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, as losses mounted at its core Vision Fund venture capital arm. Son, whose stake in SoftBank grew in recent months, also owns portions of the company’s key investment vehicles. While these holdings have ...

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• 8 February

  Celebrate this Valentine’s Day with MaximiliaN London

  

    Dubai / Gulf Time MaximiliaN London, which was founded in London in 1999, presents a varied collection of fine jewelries for Valentine’s Day. The collection contain new additions which reflect the aesthetic and nuanced designs created by elite artists, designers and jewelers from all over the world, who share one passion which is Gemstones. MaximiliaN London produces a collection ...

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• 8 February

  Danube Sports World – the region’s largest indoor multi-sport facility – is now open

  

    Dubai / Gulf Time Danube Sports World, the newest venture under the prestigious Danube Group, is all set to become the region's favourite indoor sports destination. The facility officially opened its doors to sports and fitness enthusiasts in Dubai on February 4 with a grand event that was attended by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance ...

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• 8 February

  UAE offers condolences over victims of wildfires in Chile

    ABU DHABI / WAM The UAE has expressed its sincere condolences and solidarity with the Republic of Chile over wildfires affecting several areas of the country, which resulted in numerous deaths and injuries. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the Chilean government and the families of ...

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• 8 February

  UAE, Thailand discuss ways to boost economic relations

  

  SHARJAH / WAM The first Emirati-Thai Business Council was launched during the UAE-Thai business forum, organised by the Federation of UAE Chambers of Commerce and Industry (FCCI). The forum discussed ways to boost economic relations between the two countries. The Sharjah Chamber of Commerce and Industry (SCCI) hosted the meeting in conjunction with a visit from a Thai business delegation ...

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• 8 February

  Partnerships are key to unlocking Africa’s vast potential: Bin Sulayem

  

  Dubai / WAM DP World’s Group Chairman and CEO, Sultan Ahmed Bin Sulayem, called for unlocking private sector infrastructure investments in Africa, to address challenges faced by the continent’s development. Speaking at the 2nd Dakar African Infrastructure Financing Summit in Senegal, he said that the cost of moving goods domestically around Africa is five times higher than in the US ...

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• 8 February

  Etihad Cargo inks deal to expand African network

    Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Airways, has signed a memorandum of understanding (MoU) with Astral Aviation Ltd to expand the partnership between the two parties and enhance the cooperation between Abu Dhabi and Nairobi, further growing Etihad Cargo’s reach into the African market. Through the comprehensive MoU, Etihad Cargo’s customers will ...

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