February, 2022

• 1 February

  Payments firm SumUp seeks new funds at $22 billion value

    Bloomberg SumUp is considering raising new money in a funding round that could value the UK payments company at about 20 billion euros ($22.6 billion), according to people familiar with the matter. London-based SumUp could seek more than 500 million euros from investors, the people said, asking not to be identified as the matter is private. A fundraising of ...

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• 1 February

  Australia central bank scraps bond buying

  

    Bloomberg Australia’s central bank has signalled it’ll remain at the dovish end of the global policy spectrum even as it ended one of its crisis-era tools. The Aussie dollar and bond yields whipsawed as markets that had bet on accelerated interest-rate tightening digested Governor Philip Lowe’s pledge to remain patient in assessing inflation. Lowe, who announced a scrapping of ...

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• 1 February

  Some African central banks to hold rates

    Bloomberg Central banks in some of Africa’s biggest economies will likely look past high inflation and US policy tightening and hold interest rates over the coming weeks to shore up their recoveries from the Covid-19 stasis. Since monetary policy makers on the continent last met, US consumer prices soared to a near four-decade high, setting the stage for the ...

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• 1 February

  India’s RBI not behind the curve with easy policy, says official

  

    Bloomberg India’s central bank has not fallen behind the curve, having maintained an easy monetary policy stance even as other economies across the world have started tightening, a top official said. “India held its ground and is among a few countries that have retained an accommodative monetary policy, despite some views that we have fallen behind the curve,” Reserve ...

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• 1 February

  US futures trade lower while global stocks rally

  

    Bloomberg Global stocks extended a rally as Federal Reserve officials cautioned against disruptive policy tightening and US companies signaled another strong earnings season. US index futures swung from gains to losses in line with volatile moves seen over the past several days. Futures on the Nasdaq 100 Index were little changed, while those on the S&P 500 Index were ...

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• 1 February

  India’s benchmark bond yields surge

  

    Bloomberg India’s benchmark bond yields surged to the highest in two and a half years after the government unveiled plans to issue record amount of bonds in the next financial year. The selloff was exacerbated as the annual budget announcement lacked the widely expected measures to facilitate inclusion of the nation’s debt into global bond indexes. Elevated bond sales ...

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• 1 February

  Zayed II Military College one of UAE’s most important educational edifices

  

    ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has said that Zayed II Military College is one of the most important and oldest military educational edifices in the UAE, noting that its founding coincided with the UAE’s establishment. In a speech ...

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• 1 February

  UAE destroys ballistic missile from Houthis

    ABU DHABI / WAM The UAE’s Ministry of Defence (MoD) announced on Monday that its air defence forces had intercepted and destroyed a ballistic missile launched by the Houthi terrorist group at the UAE. The ministry confirmed in a statement that “there were no casualties resulting from the attack and the fragments of the ballistic missile fell in different ...

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• 1 February

  Oil set for strongest gain in decades as market tightens

  

    Bloomberg Oil markets opened the week higher and were heading for the biggest gain in at least 30 years as robust demand outpaced fresh supply. The global crude benchmark rises 1.3%, paring earlier gains, but remains on track for a 17% gain this month. West Texas Intermediate futures traded above $87 a barrel. Traders were greeted on Monday with ...

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• 1 February

  Masdar City, MBRIF join hands to cultivate entrepreneurship

  

    Abu Dhabi / WAM Masdar City and the Mohammed Bin Rashid Innovation Fund (MBRIF) on Monday announced a strategic partnership designed to cultivate entrepreneurship and economic development in the UAE and at an international level. The initiative will extend support to innovative SME’s, while also sharing industry knowledge and collaborating to develop the entrepreneurship ecosystem at home and abroad. ...

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