January, 2022

• 21 January

  Sharjah Islamic Bank’s profit up 27%

    Sharjah / WAM Sharjah Islamic Bank (SIB) recorded net profit of AED514.1 million for the year ended in December 31, 2021, an increase of 26.7% compared to AED405.8 million for the same period in 2020. The bank also reported AED850.7 million in operating profits , an increase by 21.9%, compared to AED697.7 million in the previous year. Despite the ...

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• 21 January

  A vaccine to prevent all Covid is within reach

  

    Pfizer Inc and Moderna Inc are starting to churn out doses of omicron-specific vaccines, and they say they could have data on whether the shots are effective as soon as March. But is this the best way to build and maintain protection against Covid-19? The world is breeding new variants so fast, it may not make sense to chase ...

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• 21 January

  European gas storage is half-empty

  

  On Christmas eve, Gazprom, the Russian state-owned natural gas giant, tweeted a rather unfestive message: Gas inventories in Europe were depleting quickly. Since then, Gazprom has been reminding the world of the trend every few days. “It should be noted that gas reserves in Europe’s UGS (underground gas storages) are currently at their lowest for the season in the long ...

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• 21 January

  London bankers, your jobs and bonuses look safe

    Britain’s decision to leave the European Union has imperiled London’s status as the region’s financial center. So far, the loss of jobs has been more of a dribble than an exodus. But the current hiatus masks a longer-term threat, as companies choosing where to house new positions expand elsewhere. At the moment, British banking is thriving. UK financial-services firms ...

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• 21 January

  Microsoft’s $69b Activision deal could be a blunder

    Microsoft Corp is going all in on gaming. The technology behemoth announced an agreement to buy Activision Blizzard Inc for $69 billion in cash. If the deal goes through, it would become the biggest acquisition in the company’s history. But is this mega-deal a smart move? At first blush, the merger makes sense. Gaming is one of the largest ...

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• 21 January

  Biden expects Russia to ‘move in’ on Ukraine; warns of sanctions

  

    Bloomberg President Joe Biden said he thinks Vladimir Putin doesn’t want a full-blown war but will “move in” on Ukraine after amassing 100,000 troops on its border, part of an extraordinarily blunt assessment of Russian intentions and the West’s likely response. “I’m not so sure he has — is certain — about what he’s going to do,” Biden said ...

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• 21 January

  UN chief sees progress toward peace in Ethiopia

    Bloomberg Ethiopia’s government and Tigray forces are making progress in efforts to end a 14-month conflict, United Nations Secretary General Antonio Guterres said. “I am delighted that after over a year of armed conflict which has affected millions of people across Ethiopia and the rest of the region, there is now a demonstrable effort to make peace,” Guterres said. ...

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• 21 January

  ECB has every reason not to act as quickly as Fed: Lagarde

  

    Bloomberg The European Central Bank (ECB) has “every reason” not to respond as forcefully as the Federal Reserve to soaring consumer prices, according to President Christine Lagarde. “We’re all in very different situations,” Lagarde told the France Inter radio station on Thursday in an interview. Inflation is “clearly weaker” in the euro area, while the region’s economic recovery is ...

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• 21 January

  Citi hires 5,500 young employees in Asia, ahead of 2023 target

  

    Bloomberg Citigroup Inc said it has hired 5,500 young employees for its Asia businesses over the last two years, ahead of its target to recruit 6,000 by 2023, after stepping up efforts to help cushion the region from soaring youth unemployment amid the pandemic. Consumer banking operation has taken up 48% of the overall hires, followed by 31% for ...

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• 21 January

  Riksbank will be forced to hike rates twice next year: Swedbank

  

    Bloomberg The Riksbank may soon have to abandon its dovish monetary policy and start raising rates in response to inflation overshooting its 2% target, according to Swedbank economists. The bank’s main scenario is that a first policy rate hike in early next year will be followed by a second one later in 2023. However, there is a risk that ...

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