January, 2022

• 10 January

  South Korea’s won slides to 17-month low

    Bloomberg South Korea’s won dropped to the weakest level in more than 17 months as traders geared up for a quicker pace of US interest-rate hikes and North Korea test-launched another ballistic missile. “The won’s weakness is expected to ease soon,” as China’s yuan — which Korea’s currency closely follows — will attract bullish bets in the first quarter, ...

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• 10 January

  Credit Suisse chair to get warning on quarantine breaks

  

    Bloomberg Credit Suisse Group AG Chairman Antonio Horta-Osorio is likely to receive a warning, rather than a dismissal, from the bank’s board of directors after a probe into his repeated violations of quarantine rules last year, Tages Anzeiger reported. The bank’s board of directors is expected to publicly issue a reproach of Horta-Osorio’s conduct in the coming weeks, the ...

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• 10 January

  Asia stocks advance amid bond turmoil; dollar rises

  

    Bloomberg Stocks in Asia nudged higher on Monday as investors brace for the bond-market volatility and stimulus withdrawal. The dollar rose. Shares in Hong Kong advanced as technology stocks rebounded. They fall in South Korea, while China edged higher. US futures inched upward after the S&P 500 posted the worst start to a year since 2016, as expectations of ...

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• 10 January

  India’s benchmark yield jumps to two-year high

  

    Bloomberg India’s benchmark yield jumped to the highest in two years as demand for bonds at recent auctions dwindled amid concern over the central bank’s consistent sales of the nation’s debt in the secondary market. The 10-year bond yield rises five basis points to 6.59%, highest since January 2020. That’s after underwriters stepped in to buy nearly 44 billion ...

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• 10 January

  Oil rides into 2022 on bullish wave as demand fears fade

  

    Bloomberg Oil has started off 2022 with a bang. A market that was supposed to suffer a ballooning surplus instead surpassed $80 a barrel last week as global demand shrugs off the Omicron variant, while a host of supply constraints hit producers from Canada to Russia. With investment banks calling for higher prices, and options contracts invoking the prospect ...

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• 10 January

  ‘Extreme Weekends’ begin at Sheikh Zayed Festival

    ABU DHABI / WAM “Extreme Weekends”, a series of astonishing live motorcycle shows taking place at the Sheikh Zayed Festival in Al Wathba, has begun with thrilling shows on its first weekend, and will continue until January 30. On day one of the event, four world-renowned bikers performed mind-boggling stunts on a special track set near the Emirates Fountain, ...

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• 10 January

  UAE, Norway discuss boosting cooperation

  

    Abu Dhabi / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has discussed with Anniken Huitfeldt, Minister of Foreign Affairs of the Kingdom of Norway, the cooperation relations between the two countries. In a phone call, the two sides also reviewed a number of issues related to the work programme of the ...

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• 10 January

  RTA adds 2219 new vehicles to Dubai taxi fleet

    Dubai / WAM Dubai’s Roads and Transport Authority (RTA) signed a contract for the procurement of 2,219 new vehicles to enhance the fleet of the Dubai Taxi Corporation (DTC). The new batch includes 1,775 hybrid vehicles powered by fuel and electricity. Therefore, the total number of hybrid vehicles in Dubai Taxi fleet jumps to 4,105 vehicles, which constitutes 71 ...

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• 10 January

  SteelFab 2022 kicks off with over 150 exhibitors

  

    SHARJAH / WAM The 17th “SteelFab 2022”, Mena’s largest event of its kind, will kick off on Monday at Expo Centre Sharjah. Running from January 10-13, the 4-day event is organised by Expo Centre Sharjah with the support of Sharjah Chamber of Commerce and Industry. With over 150 exhibitors of the major local and international players in metalworking field, ...

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• 10 January

  Mohammed issues decrees to regulate Dubai Chambers

  

    Dubai / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The legislations are aimed at helping Dubai Chambers achieve their strategic objectives, reinforcing Dubai’s ...

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