July, 2022

• 21 July

  IMF agrees $236m for Kenya, urges to keep reform program

  

    Bloomberg The International Monetary Fund (IMF) approved the disbursement of a $235.6 million loan to Kenya as the East African nation met the lender’s targets and made progress in addressing debt vulnerabilities. The approval brings the IMF’s total disbursements to Kenya to $1.21 billion, out of a total of about $2.34 billion available under a 38-month program approved in ...

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• 21 July

  UK audit watchdog slams firms for ‘quality of work’

  

  Bloomberg The UK’s accounting watchdog blasted Mazars and BDO for the “unacceptable” quality of their audits after carrying out an annual review of the industry’s seven largest firms. The Financial Reporting Council (FRC) said that four of the eight audits reviewed at Mazars and five of the 12 audits reviewed at BDO required more than limited improvements. The regulator added ...

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• 21 July

  ‘New crypto bill unlikely to get Senate vote’

    Bloomberg A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the US Senate, according to one of the lawmakers driving the effort. Wyoming Senator Cynthia Lummis said that the full bill she released last month with Democrat Kirsten Gillibrand would probably not be ...

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• 21 July

  Barclays joins peers in targeting German firms for growth

    Bloomberg Barclays Plc aims for a bigger slice of the business with German companies after adding employees and hiring a new country head. The London-based lender, which gets the majority of its revenue in Germany from retail clients, wants to double its market share in investment and corporate banking to around 6%, Ingrid Hengster, who took over as country ...

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• 21 July

  US equity futures drop with stocks as haven bid returns

  

    Bloomberg US equity futures fell with stocks amid rising concern that Europe will lose access to Russian gas, sending the region into a recession that could have global repercussions. Contracts on the Nasdaq 100 and the S&P 500 turned lower, reversing earlier gains, along with the Stoxx 600 Index as the European Union (EU) laid out preparations for a ...

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• 21 July

  China tech stocks gain on renewed bets of crackdown ending

  

    Bloomberg Chinese tech stocks advanced following a report that regulators are wrapping up an investigation into Didi Global Inc with a hefty fine, with traders again hoping this will herald an end to a crackdown on the sector. The Hang Seng Tech Index gained 1.6%, with Meituan and NetEase Inc contributing the most to the rise. The move also ...

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• 20 July

  Adnoc, TotalEnergies sign strategic partnership deal

  

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) and TotalEnergies signed a strategic partnership agreement to deepen their long-standing partnership and explore new opportunities for growth across the energy value chain. The agreement was signed by Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and group CEO, and Patrick Pouyanné, Chairman ...

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• 20 July

  UAE leaders offer condolences to King Hamad of Bahrain

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to King Hamad bin Isa Al Khalifa of Bahrain on the death of Shaikha Mathayel bint Ali bin Isa bin Salman Al Khalifa. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

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• 20 July

  Dubai sees 25% growth in new business licences

  

    Dubai / WAM Dubai issued 45,653 new business licences in the first half (H1) of 2022, registering a growth of 25% compared to same period last year. The numbers reaffirm the success of the government’s innovative new strategic approaches and policy amendments that have revitalised the economy and stimulated a strong flow of local and foreign investment, enabling the ...

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• 20 July

  Abu Dhabi int’l food exhibition to kick off in Dec

    Abu Dhabi / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of the Presidential Court, and Chairman of the Board of Abu Dhabi Agriculture and Food Safety Authority (Adafsa), the first edition of the Abu Dhabi International Food Exhibition (Adife) is scheduled to be launched on December 6-8 at the Abu ...

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