August, 2022

• 2 August

  Colombia lifts key rate to most since 2009

    Bloomberg Colombia raised interest rates to the highest level since 2009 as a slump in the peso adds to inflationary pressure in Latin America’s fastest-growing major economy. The central bank increased its benchmark rate by 1.5 percentage points for a second straight month, to 9%, governor Leonardo Villar told reporters after the meeting. Six board members voted for the ...

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• 2 August

  European stocks advance as bank earnings show upside

  

  Bloomberg European stocks ticker higher as corporate earnings continued to deliver upside surprises while investors assessed remarks from central bankers that higher interest rates are needed to bring inflation under control. The Stoxx 600 Index rises 0.2%, led by banks, as HSBC Holdings Plc posted better-than-estimated profits. S&P 500 contracts slipped following the best month for US stocks since November ...

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• 2 August

  Bitcoin declines after best month of 2022

  

    Bloomberg Bitcoin declined after reaching the highest levels since mid-June on Saturday amid optimism that the market may have recovered from its worst levels. The largest cryptocurrency dropped as much as 2.8% to $23,130 on Monday after hitting $24,658 on Saturday, its highest since June 13. Its 27% gain in July made for the best month since October. Ether ...

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• 1 August

  CBUAE eases borrowing norms for Sheikh Zayed Housing Programme

  

    ABU DHABI / WAM The central bank of the UAE (CBUAE) issued a notice to all banks and finance companies operating in the UAE on housing loans granted to beneficiaries of Home Finance of Sheikh Zayed Housing Programme (SZHP). The notice included details of the CBUAE decision, in agreement with SZHP and in line with Article (5) of the ...

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• 1 August

  Oil notches first back-to-back monthly decline since 2020

  

  Bloomberg Oil falls for a second-consecutive month as a deteriorating demand outlook offset concerns over tight physical supplies. West Texas Intermediate rises, bringing this week’s gain to around 4%. Futures nevertheless recorded their first back-to-back monthly decline since 2020 as fears of an economic slowdown fueled bearish sentiment across markets. The US economy shrank for a second quarter as rampant ...

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• 1 August

  UAE President, VP receive New Hijri Year greetings

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, has received congratulatory cables from the Kings, Presidents and Princes of Arab and Muslim countries, on the occasion of the new Hijri Year. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received similar cables ...

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• 1 August

  Sharjah’s exhibition season back with eventful calendar

  

  Sharjah / WAM Sharjah’s exhibition and conference season will soon kick off with a wide range of major local, regional, and international events hosted and organised by the Expo Centre Sharjah during the last four months of 2022. From August 26 to January 1, 2023, Sharjah will host a total of 11 business, commercial, and cultural events that will draw ...

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• 1 August

  NBF profit hits AED150.5mn in H1 2022

    Fujairah / Gulf Time The National Bank of Fujairah (NBF) announces its results for the six month period ended June 30. The bank recorded year-on-year growth of 97.5% to close the six month period at a net profit of AED150.5 million compared to AED76.2 million in corresponding period of 2021, up 49.4% quarter-on-quarter and 163.6% for three month period ...

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• 1 August

  Hamriyah Free Zone, Rafid to set up integrated technical centre

  

    Sharjah / WAM The Hamriyah Free Zone Authority (HFZA) has partnered with Rafid Automotive Solutions to establish an integrated technical centre within the free zone and provide vehicle repair, maintenance, inspection, as well as registration services and roadside assistance. In addition to promoting Sharjah’s competitive edge, the partnership agreement will also fuel the effort by both parties to upgrade ...

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• 1 August

  CBUAE eases borrowing norms for Sheikh Zayed Housing Programme

  

    Abu Dhabi / WAM The central bank of the UAE (CBUAE) has issued a notice to all banks and finance companies operating in the UAE on housing loans granted to beneficiaries of the Home Finance of the Sheikh Zayed Housing Programme (SZHP). The notice included details of the CBUAE decision, in agreement with SZHP and in line with Article ...

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