May, 2022

• 31 May

  Northern Ireland govt on hold as protocol deadlock remains

  

  Bloomberg Northern Ireland’s devolved government remains effectively suspended after a move to elect speakers to the Assembly failed amid a stand-off over Brexit. “The Assembly has been unable to conduct its first business therefore we can proceed no further,” Acting Speaker Alex Maskey said. Until a speaker is elected, there can be no nominations to the region’s joint top ministerial ...

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• 31 May

  Australian PM’s party gets parliament majority

    Bloomberg Australian PM Anthony Albanese’s Labor Party clinched a parliamentary majority after day of ballots getting counted in tightly contested seats, giving his government the heft to push through bills on issues ranging from climate change to anti-corruption measures. Labor is projected to secure the seat of Macnamara in the heart of Melbourne, Australia’s ABC said, giving the party ...

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• 31 May

  Ex-attorney general adds to Tory calls for Johnson to quit

    Bloomberg Boris Johnson faces a drip-drip of Conservative MPs calling on him to resign, as former Attorney General Jeremy Wright said the so-called partygate scandal had done “lasting damage” to the government. The prime minister had been hoping that with Parliament on holiday to mark Queen Elizabeth II’s 70 years on the throne, Tory rebels would be keeping relatively ...

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• 31 May

  China opens exchange bond markets to foreign investors

  

    Bloomberg China will allow foreign institutional investors to trade bonds on its smaller exchange market in its latest step to attract more capital inflows by opening its financial markets, after a record selloff of Chinese holdings by foreign investors. Qualified foreign institutional investors, which can include central banks, sovereign funds, commercial banks and pension funds, will be allowed to ...

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• 31 May

  Lagarde prepares for ECB liftoff with yet more record inflation

  

  Bloomberg The European Central Bank’s debate over how aggressively to tighten monetary policy is likely to intensify this week in the prelude to a pre-decision blackout period as data probably show a new record for inflation. All but one economist surveyed by Bloomberg foresee an acceleration in annual price increases, with the median estimate at 7.8%. Out of the four ...

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• 31 May

  Citi says go underweight yuan with risk assets vulnerable

  

    Bloomberg Citigroup Inc is advising investors to limit exposure to the yuan and remains cautious on emerging markets more broadly, saying China hasn’t done enough to ease the risk that its economic slowdown will threaten growth worldwide. China’s deepening slump, fears of a US recession and the Federal Reserve’s moves to shrink its balance sheet mean that any correction ...

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• 31 May

  European stocks climb as easing China curbs boost risk sentiment

  

    Bloomberg European equities rose to the highest level in more than three weeks, trimming their monthly drop, after China relaxed some of the strictest virus controls of the pandemic, fuelling risk-on sentiment for economic recovery. The Stoxx 600 advanced 0.7% at 9:44 am in London, rising for a fourth day in the longest winning streak since March. Consumer and ...

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• 31 May

  Amundi turns bullish on China stocks, still cautious on tech

  

    Bloomberg Investors should be ready for China’s stocks to outperform as potential positive catalysts loom, according to Europe’s largest asset manager Amundi. The firm is turning more bullish on the country’s equities market after trimming exposure during first quarter’s harsh selloff, according to Vincent Mortier, Amundi’s chief investment officer. Key developments to watch include the potential rollout of a ...

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• 30 May

  UAE represents successful model of moderate Islam: British writer

    Sharjah / WAM The 31st edition of the Abu Dhabi International Book Fair (ADIBF) continued to offer thought-provoking discussion and valuable insights for attendees, with one of its latest sessions themed ‘Islam and the West: Past, Present and Future’. Ed Husain, a prominent British writer and a professor at Georgetown University in Washington DC, affirmed that Emirati diplomacy was ...

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• 30 May

  Dubai’s newly opened road to slash travel time by 50%

  

    Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has officially opened the Dubai-Al Ain Road Improvement Project built at a cost of AED2 billion. Undertaken as part of Dubai’s master transport plan, the project affirms Dubai’s efforts to accelerate its economic development with major projects. ...

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