February, 2022

• 3 February

  Citi to work with black-owned banks

    Bloomberg Citigroup created a new team inside its trading division that will focus on working more closely with minority depository institutions and diverse broker dealers and asset managers. The firm’s new diverse financial institutions group team will be led by Harold Butler, a senior banker who spent 16 years covering the US Treasury Department and the Federal Reserve System ...

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• 3 February

  Thailand poised to join global rush for virtual banks

  

    Bloomberg Thailand is preparing rules for the setting up of virtual banks, set to join peers including Singapore and Malaysia in promoting financial technology to spur competition and wider access to banking services. The Bank of Thailand (BOT) plans to issue guidelines for digital banks by June and may allow existing lender and new applicants to seek licenses, Assistant Governor ...

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• 3 February

  US futures, Europe stocks decline on earnings shock

  

    Bloomberg The rally in global stocks faltered following disappointing earnings from technology bellwethers and as traders await more clues on how quickly key central banks will tighten the monetary policy. US equity futures dropped, with contracts on the technology-heavy Nasdaq 100 losing 1.8%, after Facebook parent Meta Platforms Inc and streaming service Spotify Technology SA plunged in late trading ...

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• 3 February

  Buffett strikes gold as Japan trading houses see record profits

  

    Bloomberg Warren Buffett’s surprise bet on Japan’s trading houses is paying off as the companies expect a record-breaking rebound in profits. The trading companies, known as “sogo shosha” in Japan, boosted their net income outlook after the rebound in prices of everything from crude oil to iron ore. Buffett shocked the world in 2020 when Berkshire Hathaway Inc announced ...

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• 3 February

  Oil retreats from seven-year high as Opec+ hikes output

  

    Bloomberg Oil retreated from a fresh seven-year high as Opec+ agreed to another modest hike in output and Iran said its ready to supply markets quickly if sanctions are removed. West Texas Intermediate edged lower 0.2% after hitting its highest level since 2014 earlier in the session. Global benchmark Brent traded near $89 a barrel, with prices steeply backwardated ...

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• 3 February

  UAE welcomes Somalian prime minister’s initiative

    Abu Dhabi / WAM The UAE has welcomed the apology made by Mohamed Hussein Roble, Prime Minister of the Federal Republic of Somalia, for the incident that took place at Mogadishu Airport in April 2018, involving seizure of funds and aid sent to support the people of Somalia. The Ministry of Foreign Affairs and International Cooperation said in a ...

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• 3 February

  UAE, Japan bilateral trade hits $30.5 billion in 2021

  

    Abu Dhabi / WAM Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (Added), urged Japanese investors and entrepreneurs to benefit from investments opportunities in Abu Dhabi and the suitable business environment to thrive and enhance relations. Bilateral trade between the UAE and Japan reached $30.5 billion last year; UAE exports to Japan rose to ...

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• 3 February

  DP World inks deal to develop Angola’s trade, logistics sector

  

    DUBAI / WAM DP World, the leading provider of smart logistics solutions, and the Government of Angola, on Wednesday signed a memorandum of understanding (MoU) with the aim of cooperating to further develop the country’s trade and logistics sector. The MoU was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, ...

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• 3 February

  Mubadala, Trafigura sell Spanish mining firm Matsa

  

    ABU DHABI / WAM Following receipt of the necessary regulatory approvals, Mubadala Investment Company and Trafigura completed the sale of 100 percent of Spanish mining operation Minas de Aguas Teñidas (Matsa) to the Australian mining and exploration company Sandfire Resources. Matsa owns and operates two mines in the municipality of Almonaster La Real and one mine in the province ...

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• 3 February

  Dubai adds 1,343 new food outlets in 2021

    Dubai / WAM The number of food establishments in Dubai has been increased by 50% during the past year. Dubai Municipality’s Food Safety Department has registered 1,343 new food establishments in 2021. As a result, the number of inspections also increased by 12% compared to 2020. The department carried out 76,195 inspection visits to food establishments in emirate last ...

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