February, 2021

• 24 February

  China’s overseas energy lending tumbles

  

  Bloomberg China’s overseas energy financing dropped to the lowest level since 2008 after the pandemic hampered deal-making in developing nations. Financing for foreign energy projects, including power plants and mines, fell by 43% to $4.6 billion, according to Boston University’s Global Energy Finance Database, which tracks data from two state-owned development banks. More than half of lending was for a …

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• 23 February

  Europe stocks fall with futures as tech weighs

  

  Bloomberg European stocks dropped with US equity futures on Tuesday as the jump in bond yields and commodity prices continued to hammer technology shares. The Stoxx 600 Index turned lower, with tech among the laggards for a second straight day while energy shares outperformed. HSBC Holdings Plc edged lower even after results beat estimates in the fourth quarter. Hong Kong …

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• 23 February

  BlackRock turning bearish on credit, government bonds

  

  Bloomberg BlackRock Inc. said it’s turned bearish on credit and government bonds, downgrading the two asset classes to underweight over the long-term because of high valuations and inflation expectations. A stronger economy on the back of the Covid-19 vaccine rollout, combined with the potential for as much as $2.8 trillion of additional fiscal stimulus and higher inflation will drive up …

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• 22 February

  UAE, Qatar meet to follow up on Al-Ula declaration

  KUWAIT / WAM Official delegations representing the United Arab Emirates and the State of Qatar met in the brotherly State of Kuwait on Monday in the first meeting between the two sides to follow up on the Al-Ula Declaration. The two sides discussed joint mechanisms and procedures to implement the Al-Ula Declaration and underscored the importance of preserving Gulf unity, …

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• 22 February

  Bahrain-based Investcorp acquires KSM Consulting

  

  BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of its affiliates has acquired a majority ownership position in KSM Consulting, a leading consulting firm specialising in data analytics, technology and digital transformation, from Renovus Capital Partners, which will continue to maintain a minority stake in KSMC. …

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• 22 February

  Bond yields surge, stocks dip as metals push higher

  

  Bloomberg The bond selloff continued on Monday as Treasury yields climbed and sovereign debt in Australia and New Zealand slid on concerns about faster inflation, tempering stock market optimism from positive vaccine news. Ten-year Treasury yields climbed to the highest in about a year and an Asian stock gauge turned lower amid a surge in metals that put the focus …

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• 22 February

  Sasol calls off $2b share sale, profit more than triples

  

  Bloomberg Sasol Ltd., the South African chemicals and fuel maker, called off a potential $2 billion share sale and announced first-half profit more than tripled. The shares jumped to the highest in a year. The company said it has raised enough cash through asset disposals and cost savings to reduce debt and avoid a rights offer. “A decision was made …

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• 22 February

  UAE has made new technology cornerstone of growth trajectory

  

  NEW YORK / WAM At the 59th Session of the Commission for Social Development at the UN, the UAE underscored the importance of digital technologies, universal accessibility, and affordable connectivity to achieve the Sustainable Development Goals and promote social development at the UN. Hessa Tahlak, Assistant Undersecretary of Social Development, reflected on how the UAE has made new and emerging …

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• 22 February

  UAE, Brazil discuss ways to bolster cooperation

  

  BRASILIA / WAM Saleh Ahmed Al Suwaidi, UAE Ambassador to Brazil, discussed with Tarcísio Gomes de Freitas, Minister of Infrastructure of Brazil, ways of advancing overall cooperation between the UAE and Brazil, most notably in the infrastructure and investment sectors. They also addressed Brazil’s participation in Expo 2020 Dubai. During the meeting, Al Suwaidi stated that relations between the two …

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• 22 February

  Post-Brexit Britain plots fintech big bang with hubs, tech visas

  

  Bloomberg UK Chancellor Rishi Sunak plans to introduce new visas for financial technology workers in next month’s budget, part of a package of proposals in a report aimed at boosting the industry in the country, according to newspapers. The fast-track visa program is designed to lure global talent to Britain’s fintech companies and will mirror a similar policy for scientists, …

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