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Bloomberg Global stocks headed for the biggest four-day rally since November 2020 as companies from the US to Europe reported better-than-forecast earnings and dip-buying returned to technology shares. Futures on the Nasdaq 100 Index jumped 1.1%, while those on the S&P 500 added 0.4%. Europe’s Stoxx 600 Index traded above its 50-day moving average for the first time since ...
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February, 2022
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3 February
Bitcoin’s decline from 2-week peak highlights key technical hurdle
Bloomberg Bitcoin slipped back on Wednesday after touching a near two-week high, spotlighting the token’s struggle to vault a key technical hurdle and reclaim the $40,000 level. The world’s largest cryptocurrency retreated about 1.3% to $38,300 as of 3:40 pm in Singapore, after touching $39,267 a day earlier. Ether, the second-largest coin, falls some 1.5%. A Bitcoin price trendline ...
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2 February
New UAE labour law comes into effect from February 2
ABU DHABI / WAM The UAE is continuing to advance its laws and procedures to facilitate business and enhance the competitiveness and productivity of the national labour market. The new law represents progress in the efforts to improve the national labour market’s sustainability. Recent statistics issued by the Ministry of Human Resources and Emiratisation revealed the number of registered ...
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2 February
ECI issues AED6bn worth of revolving credit guarantees
Dubai / WAM Massimo Falcioni, CEO of Etihad Credit Insurance (ECI), has said that since its launch in 2018, ECI has supported various sectors with its trade credit solutions, improving the competitiveness of the UAE non-oil trade and export. Over the past four years, ECI recorded a new milestone by issuing AED6 billion worth of revolving credit guarantees, which ...
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2 February
UAE’s Al Hosn wins ‘App of the Year 2021’ award
ABU DHABI / WAM The US-based Global Excellence Award (GEA) has awarded Al Hosn app the “App Of The Year 2021” in the Covid-19 Response category. The achievement is the result of the collaboration between the Ministry of Health and Prevention (MoHAP), Alhosn National Health System, and the health sector at large. It also reflects the advanced level of the ...
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2 February
Aldar acquires Al Hamra Mall in Ras Al Khaimah
RAS AL KHAIMAH / WAM Aldar Properties (Aldar), through its Aldar Investment business, has made its first investment in Ras Al Khaimah, acquiring the 27,000 square metre Al Hamra Mall developed by Al Hamra, a Ras Al Khaimah based real estate development and investment company, for a total consideration of AED410 million. The transaction adds further scale and diversification ...
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2 February
DP World, Congo government begin work on Banana Port
DUBAI / WAM DP World, the world’s leading provider of smart logistics, and the government of the Democratic Republic of the Congo (DRC), on Tuesday laid the first stone to mark the start of construction of the new Banana Port. The ceremony was attended by Félix-Antoine Tshisekedi, President of DRC, and Sultan Ahmed bin Sulayem, Group Chairman and CEO ...
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2 February
G42 Cloud-Kyndryl deal to spur cloud adoption in UAE
ABU DHABI / WAM G42 Cloud, a UAE-based cloud computing provider, on Tuesday announced a strategic collaboration with Kyndryl, the world’s largest IT infrastructure services provider. Through this collaboration, G42 Cloud and Kyndryl aim to accelerate cloud adoption in the UAE and the Middle East. The companies will also look to help drive IT and business reinvention for customers ...
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2 February
Sanad launches new strategy
ABU DHABI / WAM Sanad, a wholly-owned subsidiary of Mubadala Investment Company, on Tuesday launched its new strategy to expand the business beyond the aerospace sector. The company has also appointed Mansoor Janahi, currently Deputy Group CEO of Sanad, as the new Group CEO to lead the growth stage under the new strategy. The strategy and leadership announcements follow ...
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2 February
UAE’s Al Hosn wins ‘App of the Year 2021’ award
Abu Dhabi / WAM The US-based Global Excellence Award (GEA) has awarded Al Hosn app the “App Of The Year 2021” in the Covid-19 Response category. The achievement is the result of the collaboration between the Ministry of Health and Prevention (MoHAP), Alhosn National Health System, and the health sector at large. It also reflects the advanced level of ...
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