February, 2022

• 14 February

  PBOC encourages bank lending to counter economic slowdown

  

    Bloomberg The People’s Bank of China (PBOC) reiterated it will encourage banks to expand lending to meet demand and bolster a slowing economy. The central bank will “keep liquidity reasonably ample, guide financial institutions to effectively expand loan extension, and make the overall credit growth more stable,” it said in the quarterly monetary policy published Friday. The PBOC will avoid ...

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• 14 February

  Poland hikes rate to highest since 2013 to fight inflation

  

    Bloomberg Poland increased borrowing costs for a fifth consecutive month to an almost nine-year high as pressure grows on the central bank to tame record inflation in eastern Europe’s largest economy. The council that sets interest rates lifted the benchmark 50 basis points to 2.75%, in line with the median estimate of 32 economists in a Bloomberg survey. The ...

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• 14 February

  Iceland makes its biggest rate hike since 2008

    Bloomberg Iceland’s central bank delivered its biggest interest-rate hike since the 2008 crisis, trying to quell inflation spurred by a rampant housing market. The Monetary Policy Committee in Reykjavik lifted the seven-day term deposit rate by 75 basis points to 2.75%, the highest level in almost two years. The increase was forecast by the nation’s two biggest banks, Landsbankinn ...

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• 14 February

  Samsung ends Note, bets big on foldables

  

    Bloomberg Samsung Electronics Co is making the biggest change to its smartphone strategy in years by reorganising around its big-selling Galaxy S and foldable Galaxy Z series of devices. The company plans to discontinue its Note lineup of stylus-equipped phones and instead distribute that capability across its portfolio while pushing premium foldables in its challenge to Apple Inc. “In ...

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• 14 February

  Mercedes cars more profitable than ever amid chip shortage

  

  Bloomberg Mercedes-Benz AG vehicles are more profitable than ever after the chip crisis sparked a worldwide shortage of cars, boosting the selling prices for models such as the flagship S-Class. The automaker exceeded its profitability target last year and the return on sales in the final quarter was the highest on record, a spokesman said. The global dearth of high-tech ...

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• 14 February

  Apple to launch tap-to-pay feature in challenge to Square

  

    Bloomberg Apple Inc confirmed plans to release its much-anticipated Tap to Pay feature on the iPhone later this year, giving merchants an alternative to Block Inc.’s Square technology. The option will let sellers accept payments through Apple Pay, credit cards and digital wallets without additional hardware, the company said in a statement. The system relies on near field communication, ...

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• 14 February

  Twitter gains as ad revenue holds up

    Bloomberg Twitter Inc’s sales jumped 22% in the fourth quarter, signalling that the social network’s digital advertising business has held up even as changes to Apple Inc.’s data-collection rules hurt some larger rivals. Sales in the holiday quarter rose to $1.57 billion, compared with $1.58 billion analysts had predicted. Revenue in the current period will be $1.17 billion to ...

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• 12 February

  UAE highlights efforts to help global community recover from Covid-19

  

    NEW YORK / WAM The United Arab Emirates highlighted its ongoing efforts to help countries around the world recover from the Covid-19 pandemic during the 60th session of the United Nations’ Commission for Social Development. Covid-19 assistance that the UAE has provided includes more than 2,000 tonnes of supplies and nearly 200 medical assistance flights sent to 135 countries. ...

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• 12 February

  Taqa reports net income of AED6 billion in 2021

  

    Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) on Friday reported consolidated financial results for the year ended December 31, 2021 with net income (Taqa-share) of AED6.0 billion, an increase of AED3.2 billion, thanks to greater contribution from the oil & gas segment and reflecting the AED1.5-billion post-tax impairment charge in the previous year. The group revenues ...

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• 12 February

  WAM, Djibouti enhance media cooperation

    Dubai / WAM The Emirates News Agency (WAM) has signed a memorandum of understanding (MoU) with Djibouti Information Agency (Agence Djiboutienne D’Information) in the news service exchange and media content fields. This came during a meeting between Mohammed Jalal Al Rayssi, Director General of WAM, and Abdoulrazak Ali Dirneh, Director-General of Djibouti Information Agency and in line with distinguished ...

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