June, 2022

• 15 June

  China puts monetary easing on hold with Fed set to hike

  

  Bloomberg China’s central bank abstained from cutting a key policy interest rate, avoiding further policy divergence from the US that could add pressure on the yuan. The People’s Bank of China (PBOC) kept the rate on its one-year medium-term lending facility at 2.85% on Wednesday, in line with most forecasts in a Bloomberg survey of economists. The PBOC also rolled ...

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• 15 June

  Europe stocks gain as ECB holds emergency meeting after selloff

  

    Bloomberg European stocks rallied after their longest slump since March 2020 as the European Central Bank (ECB) announced an emergency meeting “to discuss current market conditions” and ahead of the Federal Reserve rates decision. The Stoxx Europe 600 rises 1.1% at 9:45 am in London. Italy’s FTSE MIB index was up 3%, led by banks, while Italian bonds surged ...

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• 15 June

  Bitcoin’s unrelenting slowdown puts prices on verge of $20,000

  

    Bloomberg Bitcoin prices tumbled once again, driving the token to the brink of $20,000 on evidence of deepening stress within the crypto industry. The largest cryptocurrency sank 8% to $20,180, the lowest level since December 2020. Bitcoin has fallen for nine days, the longest losing streak since 2014. Losses continued to be widespread, with Ether plunging 10% to $1,062. ...

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• 15 June

  Oil gains as investors weigh tight supply, demand risks

  

    Bloomberg Oil rises as investors weighed a tight supply outlook and the potential responses from consumers and policy makers alike. West Texas Intermediate gained for a second session, trading above $122 a barrel. President Biden will travel to Saudi Arabia next month and will discuss energy production, according to US National Security Counsel Coordinator John Kirby. The meeting will ...

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• 15 June

  Adex signs financing deal with Capital Bank of Jordan

  

    Abu Dhabi / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has announced the signing of a financing agreement with Capital Bank of Jordan, whereby a credit line of approximately AED73.4 million ($20 million) will be opened to support collaborative efforts to enhance UAE’s exports to the region and boost economies ...

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• 15 June

  UAE supports multilateral trade to help WTO deliver positive change

  

    Geneva / WAM The UAE delegation has concluded its participation in the 12th Ministers Conference (MC12) of the World Trade Organisation (WTO) in Geneva, Switzerland, the four-day gathering of trade and economy ministers from around the world – and its first in-person meeting since the start of the global pandemic. The UAE delegation, led by Abdullah bin Touq Al ...

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• 15 June

  National Bonds to strengthen UAE youth’s financial literacy

  

    DUBAI / WAM Initiating a movement in financial literacy amongst the UAE’s youth, National Bonds, an investment company owned by the Investment Corporation of Dubai, has entered a partnership with Taaleem, one of the country’s leading education providers, to empower children of all ages with essential financial planning skills. In a signing ceremony, National Bonds group CEO, Mohammed Qasim ...

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• 15 June

  Emirates wins triple gold for 3rd year for safety

    DUBAI / WAM Emirates, renowned for its world-leading air transport services, has also been recognised for its outstanding ground transport services with awards in multiple categories, at the RoSPA awards, held for the first time in Dubai. The only airline to have achieved commendations three years in a row, the Emirates team took gold awards in three main categories: ...

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• 15 June

  UAE ranks first globally for workforce business skills

  

    Abu Dhabi / WAM The UAE has enhanced its ranking to be first globally in overall business skills proficiency, according to Coursera’s latest Global Skills Report. In last year’s report, the country ranked second in the world and led the Middle East and North Africa region. Learners in the UAE were placed in the top 100 percentile, compared to ...

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• 15 June

  Adex signs financing deal with Jordan’s bank to boost exports

  

    Abu Dhabi / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has announced the signing of a financing agreement with Capital Bank of Jordan, whereby a credit line of approximately AED73.4 million ($20 million) will be opened to support collaborative efforts to enhance UAE’s exports to the region and boost economies ...

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