July, 2022

• 1 July

  Asian central banks spend billions to slow currency declines

  

  Bloomberg After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to $221.4 billion as of June 17, in data released late last week. That was the lowest in more than two years. Monthly figures show that Indonesia’s stash is at ...

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• 1 July

  Bitcoin rally falters as inflation fears weigh on crypto assets

  

  Bloomberg Bitcoin, fresh off its biggest-ever monthly decline, whipsawed traders with wild swings on Friday as digital assets struggle to regain their footing. The largest token rallied as much as 11.3% in Asia on Friday, briefly closing in on the $21,000 level. Bitcoin then quickly gave up most of those gains, trading around $19,400 at 11:30 am in London. June’s ...

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• 1 July

  US stock futures fall

  

  Bloomberg US equity futures fall as risk aversion lifted bonds and havens following epochal six-month losses across major markets. Contracts on S&P 500 and Nasdaq 100 pointed to extended declines for US stocks after the S&P 500 suffered its biggest first-half drop in over 50 years. The 10-year US Treasury yield slid below 3% to the lowest since early June. ...

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• 1 July

  Seha, Jaheziya partner to boost education, research

  

    Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, signed a memorandum of understanding (MoU) with Jaheziya, the UAE’s largest and most comprehensive training initiative established on December 19, 2020. The agreement was signed at Seha’s headquarters in Abu Dhabi with the goal of fostering cooperation between the two entities to develop educational ...

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• 1 July

  EDB approves trade finance facility for JLW to execute data centre in Masdar

  

    Abu Dhabi / WAM The Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, has announced the approval of a trade finance facility to JLW Middle East, to design, build and handover a 60 megawatts (MW) data centre (with a day 1 capacity of 31.8MW) located in Masdar City, Abu Dhabi. ...

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• 1 July

  Dubai, Japan to enhance ties in real estate sector

  

    DUBAI / WAM Sultan Butti bin Mejren, Director-General of Dubai Land Department (DLD), received Noboru Sekiguchi, Consul-General of Japan in Dubai, to witness DLD’s pioneering position in the real estate sector, especially in the real estate registration field, and strengthen methods of cooperation between Dubai Land Department and the authorities concerned with real estate registration in Japan. During the ...

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• 1 July

  Dubai’s Yiwu Market opens doors to public

    DUBAI / WAM Dubai’s Yiwu Market, a hybrid shopping complex that will empower regional and global supply chains, held its official opening ceremony on Thursday, reinforcing Dubai’s status as a global trade hub connecting the East with the West A partnership between DP World and China Commodity City Group (CCC), the AED600 million Yiwu Market is the first phase ...

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• 1 July

  Sheikh Hasher bin Maktoum opens new store of ‘Carter & White’

  

    Dubai / Gulf Time Sheikh Hasher bin Maktoum Al Maktoum inaugurated the third store of the UAE brand “Carter & White”, a company specialised in designing and manufacturing clothing, in City Centre Mirdif in Dubai. Sheikh Hasher bin Maktoum Al Maktoum had a tour at the new store, which is the largest in terms of size and department stores, ...

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• 1 July

  Etihad Airways returns to Beijing

    Abu Dhabi / WAM Etihad Airways has announced that it resumed passenger flights between Abu Dhabi and Beijing. Etihad Airways inaugural flight EY888 landed in Beijing on Thursday morning at 05:25 (local time), becoming the first regular direct international passenger service to return to Beijing under the latest mandate of the Joint Prevention and Control Mechanism of the State ...

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• 1 July

  Mercedes models most in demand in UAE

  

    Sharjah / Gulf Time Anas Waheed, Executive Director of the Mohammed Waheed Motors Corporation, confirmed that the car trade economy in the UAE has triumphed over the global epidemic, as it has witnessed rapid growth and a clear recovery in the sales and export sector. He noted that Mercedes-Benz cars of all categories and modern models are highest in ...

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