March, 2022

• 1 March

  Commerzbank raises payout promise for shareholders

  

    Bloomberg Commerzbank AG raised the prospect of higher shareholder payouts and lifted a key profit target as the turnaround under Chief Executive Officer Manfred Knof gathers pace. The German lender on Tuesday said it may pay out as much as 5 billion euros ($5.6 billion) to shareholders until 2024, compared with up to 3 billion euros promised last year. ...

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• 1 March

  Barclays hires for electronic trading role

    Bloomberg Barclays Plc named JPMorgan Chase & Co veteran Urvashi Batra as its head of equities electronic trading for the Americas. Batra’s page on the Financial Industry Regulatory Authority BrokerCheck website and her LinkedIn page both show the move, and Barclays formally announced the hire in a statement Tuesday. In her new role, she’ll oversee electronic equities client offerings ...

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• 1 March

  Hong Kong banking regulator lobbies to cut Covid quarantine

  

  Bloomberg Hong Kong’s banking regulator told finance executives in recent weeks that it’s lobbying the government to shorten the strict hotel quarantine placed on incoming travelers as it seeks to prop up confidence in the city’s status as a financial hub. Hong Kong Monetary Authority told a group of banks that it will start engaging with the government to reduce ...

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• 1 March

  European stocks fall with US equity futures; crude oil rises

  

    Bloomberg A fresh wave of volatility hit global markets as the conflict in Ukraine intensified amid mounting penalties against Russia. Stocks in Europe fell along with US equity futures, while bonds gained and oil pushed sharply higher. Utilities, car makers and travel stocks lead a decline of more than 1% in the Stoxx Europe 600 index as traders assessed ...

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• 1 March

  Gold climbs as Russia sanctions fuel fears over global economy

  

  Bloomberg Gold advanced as sweeping sanctions on Russia for its invasion of Ukraine heightened fears of a hit to global economic growth. Bullion surged as much as 2.2% after penalties were placed on the Bank of Russia to prevent it from using foreign reserves to blunt sanctions. They also excluded some Russian lenders from the SWIFT messaging system that underpins ...

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• 1 March

  Bitcoin advances in tentative comeback as haven asset

    Bloomberg Bitcoin advanced amid mounting signs that the war in Ukraine is bolstering demand for cryptocurrencies. The largest cryptocurrency rose 4.3% to $43,453 in London, gaining along with other major digital tokens. A fresh wave of turbulence hit global markets on Tuesday as the conflict in Ukraine intensified amid mounting penalties against Russia, as stocks in Europe fell along ...

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• 1 March

  UAE cabinet OKs AED12b budget for Sheikh Zayed Housing Programme

  DUBAI / WAM Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet meeting adopted a number of initiatives and legislations aimed at further developing government work. The meeting was held at Expo 2020 Dubai, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid ...

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February, 2022

• 28 February

  EGA’s 2021 net profit soars record 1,140% to AED 5.5b

  

    DUBAI / WAM Emirates Global Aluminium (EGA) on Monday reported a net profit of AED5.5 billion ($1.5 billion), an increase of 1,140 percent compared to AED445 million ($121 million) in 2020. EGA reported record adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) more than doubled to AED9.0 billion ($2.5 billion) for 2021, from AED4.1 billion ($1.1 billion) ...

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• 28 February

  UAE sends humanitarian aid plane to Gambia

    ABU DHABI / WAM The UAE has sent an aid plane containing 48 metric tons of food supplies to Gambia, to strengthen the government’s continued support in alleviating the humanitarian situation and improving living conditions across many of the regions. Sultan Ali Al-Harbi, Non-Resident Ambassador of the UAE to Gambia, underscored the UAE’s keenness to provide humanitarian assistance to ...

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• 28 February

  Sharjah Islamic Bank increases foreign ownership limit to 40%

  

    SHARJAH / WAM Shareholders of Sharjah Islamic Bank (SIB) have approved increasing the percentage of foreign ownership of the bank’s shares to 40%, at the Annual General Meeting headed by Abdul Rahman Al Owais, Chairman of the Board of Directors. They also approved the distribution of 8% of cash profits to shareholders after SIB achieved net profits of AED514.1 ...

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