January, 2023

• 25 January

  BNP Frankfurt office raided in cum-ex probe

    Bloomberg BNP Paribas SA’s Frankfurt offices were raided by German prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has swept up Wall Street’s biggest banks. A spokesperson for the bank confirmed the search and said it’s cooperating. A Cologne prosecutors’ spokesman said that the agency raiding a bank in Frankfurt since January 24 without ...

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• 25 January

  Philippine central bank chief sees rate peaking this quarter

  

    Bloomberg The Philippine central bank will likely end its monetary tightening with one or two more rate increases this quarter that will bring the key rate to around 6%, according to its governor. “The most likely scenario is that the last increase is the March meeting,” Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said in an interview in his ...

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• 25 January

  Shares drop after Microsoft signals darker tech outlook

  

    Bloomberg Equity markets slipped on Wednesday after tech giant Microsoft Corp. and a slew of other major firms forecast slowing earnings, while lackluster US business activity data reminded investors of the likelihood of recession in the world’s biggest economy. Contracts for the Nasdaq 100 fell more than 0.5%, after a two-day rally in the underlying index ground to a ...

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• 25 January

  Bitcoin eyeing first two-day drop of 2023

  

    Bloomberg Bitcoin is flirting with its first back-to-back drop since the start of the year following a poor revenue outlook from technology bellwether Microsoft Corp. that dented wider investor sentiment. The largest token fell as much as 2.5% and was trading at about $22,650 as of 6:11 am in London on Wednesday after edging lower in US hours. A ...

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• 25 January

  President appoints Abu Dhabi Executive Council members

    Abu Dhabi / WAM In his capacity as the Ruler of Abu Dhabi, President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a resolution to appoint members of the Abu Dhabi Executive Council. The resolution stipulates the appointment of Mohamed Ali Al Shorafa, member of the Abu Dhabi Executive Council, as the Chairman of the Department of ...

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• 25 January

  Edge invests $14mn in UK firm High Lander

  

  Abu Dhabi / WAM The UAE’s Edge group has announced a strategic investment in High Lander, the company behind Universal UTM, a drone-agnostic unmanned traffic management solution which provides the automation, coordination, and safety much needed in increasingly crowded skies. The $14 million investment creates a ground-breaking partnership and is already forging ongoing deals and high-value opportunities in both the ...

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• 25 January

  India-UAE summit calls for economic tie-ups to drive development plans

  

    Dubai / WAM Celebrating the special economic relations between India and the UAE, Dubai Chambers on Tuesday hosted the India-UAE Partnership Summit at its headquarters in Dubai. Hon. Piyush Goyal, Minister of Commerce and Industry, Government of India, inaugurated the summit with an opening keynote where he highlighted that the UAE-India Comprehensive Economic Partnership Agreement (CEPA) has given a ...

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• 25 January

  SIF 2023 brings together 50 international speakers

  

    Sharjah / WAM The highly-anticipated 6th edition of the Sharjah Investment Forum (SIF), organised by the Sharjah FDI Office (Invest in Sharjah), is set to take place on February 8-9 at the Jawaher Reception and Convention Centre in Sharjah. The annual event brings together a distinguished list of local and international officials, thought leaders, and economic experts to deliberate ...

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• 25 January

  Dubai reports AED1.5b realty deals in one day

  

    Dubai / WAM Dubai real estate market recorded 520 sales transactions worth AED1.22 billion, in addition to 72 mortgage deals of AED216.8 million, and 15 gift deals amounting to AED98.13 million on Tuesday, data released by Dubai’s Land Department (DLD) showed. The sales included 440 villas and apartments worth AED902.79 million, and 80 land plots worth AED321.11 million. The ...

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• 24 January

  UAE cuts fees for 14 services to enhance business environment

  

    Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) has reduced the fees for 14 main and sub services and waived the fee for one service as of January 1. The move aligns with the objectives of the ‘’Make in the Emirates” initiative to create an attractive business environment for local and international investors and support ...

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