May, 2022

• 22 May

  Philippine raises key rate for first time since 2018

  

    Bloomberg The Philippine central bank raised its key interest rate for the first time since 2018 to combat Southeast Asia’s second-fastest inflation. Bangko Sentral ng Pilipinas increased the benchmark rate by 25 basis points to 2.25%, it said in a statement, as forecast by 14 of 21 economists in a Bloomberg survey. The rest saw no change. Philippines joined ...

  Read More »
• 22 May

  Galaxy Digital braces for $300m hit this quarter

    Bloomberg Galaxy Digital Holdings Ltd. is anticipating a loss of $300 million in net comprehensive income this quarter, as uncertainty swirls across the broader cryptosphere. The crypto merchant bank revealed the potential hit in a preliminary update “in light of recent market conditions.” Comprehensive income typically combines both a company’s net income as well as any yet-to-be realised financial ...

  Read More »
• 22 May

  Nomura explores metaverse in digital push to lift profit

  

  Bloomberg Nomura Holdings Inc is building a team to help firms tap opportunities in the metaverse, as Japan’s biggest brokerage pushes deeper into digital services and private markets to boost profit. The Tokyo-based firm is considering using its investment banking knowledge to help companies in the virtual space raise money and advise on how to navigate regulations as they emerge, ...

  Read More »
• 22 May

  Mercedes says luxury is future

  

    Bloomberg Mercedes-Benz AG will cut back its entry-level suite of cars as part of a strategic overhaul that will channel more than three-quarters of the carmaker’s investment to its higher-end vehicles. Mercedes unveiled its plans to major investors, placing the drive for greater profitability on its so-called top end vehicle segment, home to the iconic G-Wagon, the flagship S-Class ...

  Read More »
• 22 May

  Apple shows headset to board in sign of progress on key project

  

    Bloomberg Apple Inc executives previewed its upcoming mixed-reality headset to the company’s board, indicating that development of the device has reached an advanced stage. The company’s board, made up of eight independent directors and Apple Chief Executive Officer Tim Cook, convenes at least four times a year. A version of the device was demonstrated to the directors during the ...

  Read More »
• 22 May

  Google creates wallet app for credit cards, tickets, car keys

  

    Bloomberg Alphabet Inc’s Google will let consumers store and use credit cards, event tickets and car keys in a new Wallet app that it’s separating from its long-time Pay app. Consumers in the US and Singapore will have access to both apps, with Pay used for financial management and transferring money to friends or family, while in 39 other ...

  Read More »
• 22 May

  Harley-Davidson halts operations

  Bloomberg Harley-Davidson Inc has told investors privately it will be able to make up for lost production later this year after halting operations because of a problem with a supplier part. The motorcycle maker tumbled after saying it would halt almost all assembly and shipments for two weeks because of a “regulatory compliance matter” with a part from one of ...

  Read More »
• 21 May

  Oil heads for weekly gain as fuel demand drives outlook

  

    Bloomberg Oil headed for a fourth straight weekly gain as optimism about the outlook for demand eclipsed concerns about tighter monetary policy and an economic slowdown that have combined to roil wider financial markets. West Texas Intermediate futures traded near $112 a barrel, and are heading for the best run of weekly increases since mid-February. Prices has been pushed ...

  Read More »
• 21 May

  UAE leaders wish Cameroon president on National Day

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Paul Biya of Cameroon on his country’s National Day, which is marked on May 20. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent similar message to ...

  Read More »
• 21 May

  Dubai sees AED7.2b in week-long realty deals

  

    Dubai / WAM A total of 2,043 real estate transactions worth AED7.2 billion were conducted during the week ending May 20, according to figures released by the Dubai Land Department. A total of 228 plots were sold for AED1.14 billion, 1,328 apartments and villas were sold for AED3.58 billion. The top three transactions were a land in Hadaeq Sheikh ...

  Read More »