September, 2022

• 27 September

  Hungary to hike key rate as forint plunges again

    Bloomberg Hungary will raise its key interest rate to a new European Union high as a standoff with the bloc over the rule of law complicates the central bank’s efforts to end its monetary-tightening cycle. Policy makers will raise the benchmark interest rate by a full percentage point to 12.75%, according to 8 out of 12 analysts in a ...

  Read More »
• 27 September

  BOE lays out stress test scenario for banks

    Bloomberg The Bank of England’s (BOE) stress tests are meant to provide an unlikely ‘tail risk’ scenario designed to test the resilience of British lenders. The current UK market turmoil means this year’s scenario is looking increasingly plausible. The scenario released amid a UK sell off includes the UK base rate rising rapidly to 6% in early 2023 before ...

  Read More »
• 27 September

  Nigeria’s naira crashes to record low

    Bloomberg Nigeria’s naira declined further to record lows in both official and unauthorised markets ahead of the central bank of Nigeria rate decision. The local currency unit weakened 1.18% in early morning trading to 436.42 against the dollar in the spot market as of 9 a.m. in the commercial capital of Lagos. It slipped to 720 a dollar in ...

  Read More »
• 27 September

  Dubai has become a global centre for green economy

  

    Dubai / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, inaugurated the 24th Water, Energy, Technology and Environment Exhibition (Wetex) and Dubai Solar Show (DSS). Wetex & DSS is organised by Dubai Electricity and Water Authority (Dewa) under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...

  Read More »
• 27 September

  DP World donates $2.5mn for flood victims in Pakistan

  

    Dubai / WAM DP World Chairman and CEO Sultan Ahmed Bin Sulayem visited Pakistan last week, where he pledged logistics support and donated $2.5 million to help people in the south of the country following the recent devastating floods. After visiting flood-affected areas, the Chairman met with Pakistan’s President Arif Alvi and Chief of Army Staff General Qamar Javed ...

  Read More »
• 27 September

  Etihad Credit Insurance sets up new office in Sharjah

  

    Sharjah / WAM Etihad Credit Insurance (ECI) has established its new representative office in Sharjah to boost the country’s economic diversification programmes and support its export, re-export, and foreign investment to increase the non-oil trade contribution to the national GDP. The launching of the new representative office is aimed at expanding ECI’s reach in the northern emirate with the ...

  Read More »
• 27 September

  flydubai begins direct service to Namangan

    DUBAI / WAM flydubai, the Dubai-based airline, continues to grow its operations in Uzbekistan with the launch of a twice-weekly service to Namangan International Airport (NMA). The carrier’s inaugural flight touched down in Namangan to a traditional water cannon salute as part of a warm welcome by local officials, airport representatives and members of the media. flydubai is the ...

  Read More »
• 27 September

  GMU highlights importance of simulation-based training

  

    Ajman / Gulf Time Gulf Medical University (GMU) commended ‘Global Healthcare Simulation Week’ at the Center for Advanced Simulation in Healthcare Department, raising awareness about the value of simulation among health professionals, students and faculty. The event also introduced the techniques of latest simulators offered by partnered distributors, subsequently providing a better learning on how to access, experience and ...

  Read More »
• 27 September

  US proposes requiring new airline fee disclosure rules

  

  Bloomberg President Joe Biden will unveil new regulations designed to tackle persistent inflation by requiring airline companies and Internet-service providers to be more transparent about hidden fees, as the White House battles rising costs threatening Democrats’ prospects in November elections. A proposed rule requiring airlines to disclose more information about the fees they charge — such as those levied on ...

  Read More »
• 27 September

  Canada to lift travel curbs from October 1

  

    Bloomberg Prime Minister Justin Trudeau’s government will let its mandatory vaccination, testing and quarantine requirements for international travellers expire at the end the month. The removal of border restrictions puts Canada alongside dozens of countries in entering a new phase of the Covid-19 pandemic by ending measures meant to slow the spread of the virus. From October 1, travellers ...

  Read More »