April, 2022

• 13 April

  French economy slows

    Bloomberg France’s economy is slowing more than previously expected as industry suffers from soaring energy costs and worsening supply constraints following Russia’s invasion of Ukraine, according to a monthly report by the central bank.

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• 13 April

  Deutsche Telekom edges closer to T-Mobile control

    Bloomberg Deutsche Telekom AG paid $2.4 billion to SoftBank Group Corp. to increase its stake in T-Mobile US Inc., taking it closer to its goal of holding a majority of the US division. The Bonn-based telecommunications company now holds 48.4% of the company after buying 21.2 million shares at an average price of $113 per T-Mobile share.

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• 13 April

  Valuation bloat in stocks, bonds is catching up with bull market

  

    Bloomberg The economic cycle is advancing to a point where valuations may finally matter again for stock and bond investors. Fortress-like in their refusal to bend for the better part of a decade, both asset classes have come under pressure thanks to the ever-stiffening resolve of central banks to restore order to the global economy. The S&P 500 has ...

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• 13 April

  Billions are pouring into chipmaker ETFs stung by stock drops

  

  Bloomberg Investors are flooding into exchange-traded funds focused on semiconductor stocks, wagering the industry will rebound from the supply-chain snags and chip shortage that have dragged the shares lower. Semiconductor ETFs have seen roughly $6.8 billion of inflows since the beginning of the year, surpassing the $5.2 billion for all of 2021 and the $2.1 billion for the year before, ...

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• 13 April

  UAE calls on UNSC to facilitate closure of vaccination gap

  New York / WAM The United Arab Emirates has called for continued commitment from the United Nations Security Council to close the stark Covid-19 vaccination gap around the world. Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, delivered the UAE’s statement at a council meeting on the implementation of two resolutions that call for international cooperation and ...

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• 13 April

  UAE expresses solidarity with Philippines over storm victims

    ABU DHABI / WAM The United Arab Emirates expressed its sincere condolences and solidarity with the brotherly Republic of Philippines over the victims of landslides and floods caused by the tropical storm that hit several areas of the Philippines this year, killing and injuring dozens. In a statement on Tuesday, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) ...

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• 13 April

  Dewa starts trading on Dubai Financial Market

  

    Dubai / WAM Dubai Electricity and Water Authority (Dewa) started trading on the Dubai Financial Market (DFM) on Tuesday under the ticker symbol “Dewa”. After pricing its shares last week at AED2.48 per share, Dewa opened the day’s trading as the largest company on the DFM, with a market capitalisation of AED124 billion ($33.8 billion). Dewa sold 9 billion ...

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• 13 April

  Abu Dhabi Chamber keen to expand economic cooperation with Rwanda

  

    Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the Embassy of Rwanda in Abu Dhabi have discussed trade cooperation and economic partnerships between businesses in both countries. This came during the visit of the ambassador of Rwanda to UAE, Emmanuel Hategeka and the accompanying delegation to the chamber, where they were received by ...

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• 13 April

  AED, SAR account for 25% of inter-Arab payments

  

  Abu Dhabi / WAM Dr Abdulrahman bin Abdullah Al Hamidy, Director-General and Chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF), has said that the Buna Payment Platform is the first Arab regional payment system that complies with universal standards. The platform allows payments in six currencies, including in four Arab currencies, the Emirati dirham (AED), ...

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• 13 April

  Dewa, Transco to raise UAE’s water security

    Dubai / WAM Dubai Electricity and Water Authority (Dewa) and Abu Dhabi Transmission and Despatch Company (Transco), a subsidiary of Abu Dhabi National Energy Company (Taqa Group), will install three interconnections that can transfer 117 MIGD to different areas in Abu Dhabi and Dubai, supporting reliable water supplies to customers across the nation. The move reinforces a shared national ...

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