July, 2022

• 25 July

  Worst of market selloff may be over: Julius Baer

  

    Bloomberg Julius Baer Group Ltd said the worst of the market selloff may be over for the Swiss wealth manager after a first half that was one of the most difficult in decades. Clients have started to come back and will probably look for ways to make money again in the second half, CEO Philipp Rickenbacher said. First-half profit ...

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• 25 July

  US futures rise as investors look to tech earnings, Fed

  

    Bloomberg Stocks and US equity futures reversed earlier declines on Monday as earnings expectations outweighed concerns about a possible recession. S&P 500 and Nasdaq 100 futures rose, while European stocks extended gains after their best week since May. China’s property shares pushed higher amid a report that officials plan a fund to support struggling developers. Treasury yields advanced and ...

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• 25 July

  Chinese property stocks, bonds rally on fund help

  

    Bloomberg Chinese property stocks and dollar bonds rallied on Monday, as a reported move by Beijing to establish a fund to support developers fuelled optimism about a turnaround for the struggling sector. A Bloomberg Intelligence index of the country’s real estate firms jumped 1.7%, the most in a week. China’s high-yield dollar notes, predominately issued by developers, rose at ...

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• 25 July

  Oil declines for third week with anemic demand, economic data

  

  Bloomberg Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market’s outlook. West Texas Intermediate falls 1.7% to slip below $95 a barrel in a choppy session. Crude posted a weekly decline as broader markets swayed oil prices in sessions characterised by sharp swings and low liquidity. On July 22, ...

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• 25 July

  UAE announces private sector holiday for Islamic New Year

    DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Saturday, July 30, will be an official paid holiday for all private sector employees in the UAE on the occasion of Islamic New Year, 1444 AH. This comes in line with the decree issued by the UAE cabinet to unify the number of holidays between ...

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• 25 July

  RTA, Cruise to operate two electric vehicles to prepare digital maps

  

    DUBAI / WAM Cruise, the self-driving car service, will start this month the operation of two Chevrolet Bolt electric vehicles (EVs) to prepare digital maps for Cruise’s self-driving vehicles. The process is a prelude for the launch of the actual service in 2023, rendering Dubai the first city in the world to commercially operate Cruise self-driving vehicles outside America. ...

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• 25 July

  Dewa commissions 287 11kV substations in H1

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned 287 11kV substations in Dubai in the first half of 2022. This is part of its efforts to provide a state-of-the-art infrastructure according to the highest international standards. These stations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf, and Burj Khalifa areas. Building these ...

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• 25 July

  NBQ’s H1 net profit reaches AED165.30m

    Umm Al Qaiwain / Gulf Time National Bank of Umm Al-Qaiwain has posted a net profit of AED165.30 million for the six months of the year 2022. Net profit has cost to income stood at 29.38% during six months, reflecting the bank’s operational efficiencies and disciplined cost management. The bank is focused on exercising prudence and building up provisions ...

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• 25 July

  UAE President appoints chiefs for unitary federal authority

  

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued federal decrees appointing the Directors-General of the Federal Authority for Identity, Citizenship, Customs and Port Security. As per the decrees, Major General Suhail Saeed Al Khaili will serve as the Director-General of the Federal Authority for Identity, Citizenship, Customs and Ports Security. The decrees ...

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• 25 July

  Dewa commissions 287 11kV substations in first half of ’22

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has commissioned 287 11kV substations in Dubai in the first half of 2022. This is part of its efforts to provide a state-of-the-art infrastructure according to the highest international standards. These stations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf, and Burj Khalifa areas. Building these ...

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