February, 2022

• 14 February

  BofA aims to offer card-free online purchases following investment

  

    Bloomberg Bank of America (BofA) Corp has led a $20 million funding round into UK startup Banked Ltd, a tie up that will give customers of e-commerce companies in the UK the option to make card-free purchases. The US lender is teaming up with the fintech to offer a ‘Pay by Bank’ solution that will enable users to pay ...

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• 14 February

  DBS CEO cautions on Fed hikes after profit surge

  

    Bloomberg DBS Group Holdings Ltd Chief Executive Officer Piyush Gupta said investors in Southeast Asia’s largest lender should be cautious about uncertainties stemming from Federal Reserve interest rate hikes and slowing Chinese growth. That tone followed the release of strong profit growth for the fourth quarter, wrapping up a year which he described as the bank’s best financial performance ...

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• 14 February

  SMBC mulls increasing stake in Rizal Bank

    Bloomberg Sumitomo Mitsui Banking Corp is considering increasing its stake in Philippine lender Rizal Commercial Banking Corp as the Japanese firm seeks to expand its footprint across Southeast Asia, according to people familiar with the matter. Tokyo-based SMBC is working with financial advisers as it prepares to boost its roughly 5% stake in RCBC, the people said, asking not ...

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• 14 February

  HSBC to double some junior banker bonuses in race for talent

  

    Bloomberg HSBC Holdings Plc plans to as much as double bonuses for some of its junior investment bankers and traders in a bid to catch up with rivals on compensation. The lender, which paid less than most rivals a year ago after cutting the bonus pool at its global banking and markets division by 15%, wants to avoid losing ...

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• 14 February

  Global stocks tumble as Ukraine tensions mount

  

    Bloomberg Stocks fell around the world as geopolitical risks over Ukraine rippled through global markets, adding to concerns about inflation and the prospect of aggressive Federal Reserve interest-rate hikes to tame it. US futures dropped, with airlines sliding in premarket trading as Ukraine tensions hit travel stocks and companies exposed to Russia and eastern Europe were under pressure. Expensive ...

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• 14 February

  Russian stocks sink, yields spike over Ukraine row

  

    Bloomberg Russian stocks and bonds slumped as traders weighed the risks of escalating tensions over Ukraine. The benchmark MOEX index was down more than 3%, dragged lower by losses in Sberbank PJSC and natural-gas exporter Gazprom PJSC. Russia’s cost of borrowing in dollars surged the most in two years as yields on 2029 bonds jumped nearly 60 basis points. ...

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• 14 February

  Oil surges to $95 as Ukraine tensions stoke supply fears

  

    Bloomberg Oil rises for an eighth straight week as tensions between Ukraine and Russia heightened concern about tight global supplies. The global benchmark rose 1.3% this week, touching $95 a barrel before paring gains. National Security Advisor Jake Sullivan said that the US believes Russia could take offensive military action or attempt to spark a conflict inside Ukraine as ...

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• 14 February

  Gulfood opens in Dubai with over 4,000 firms

  

    Dubai / WAM His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai World Trade Centre Authority (DWTCA), on Sunday opened the 27th edition of Gulfood, the world’s largest food and beverage sourcing event, at the Dubai World Trade Centre (DWTC). HH Sheikh Ahmed toured the show accompanied by Mariam Al Mheiri, UAE Minister of Climate Change ...

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• 14 February

  ADSG, Udacity to foster collaboration in key fields

  

    ABU DHABI / WAM The Abu Dhabi School of Government (ADSG) and Udacity signed a memorandum of understanding (MoU) on Sunday that fosters collaboration in scientific and training fields of common interest. Through this MoU, the parties will combine efforts to launch targeted and tailored programmes to uncover the digital and leadership career potential of Abu Dhabi government employees, ...

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• 14 February

  Dewa: 400km of FO ducts added to smart grid

    DUBAI / WAM Dubai Electricity and Water Authority (Dewa) completed the extension of 394 kilometres of fibre optic (FO) ducts in 2021 across different areas in Dubai. This increased the total length of these cable ducts since 2015 and until the end of last year to 3,275 kilometres. The external FO ducts protect and direct all fibre optic cables ...

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