April, 2021

• 28 April

  Zimbabwe’s biggest bank to cut staff

  

  Bloomberg Zimbabwe’s CBZ Bank Ltd., the country’s biggest lender, begun voluntary job cuts as it deals with the fallout from the coronavirus pandemic on the corporate landscape. The bank needs to review its structures and operations to adapt to new ways of working, according to a memo from group CEO Blessing Mudavanhu and its chief human resources officer. “The manner ...

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• 27 April

  Kuroda to miss price goal as Japan’s inflation hunt drags on

  

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda will fail to reach his goal of stable 2% price growth during his term after what will have been more than a decade of stimulus to stoke inflation, according to the Bank of Japan’s latest forecasts. Even with an economy expected to show a faster recovery from the pandemic, a slew of ...

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• 27 April

  Bond investors take riskier bets in hunt for returns

  

  Bloomberg Bond investors, emboldened by a recovering economy and a global vaccine rollout, are taking on more risk, sometimes a lot more risk. Insurers, pension systems and high-grade credit managers in the US and Europe are buying bigger amounts of junk-rated debt to offset shrinking yields, forcing high-yield investors to jostle for allocations of BB rated bonds — the safest ...

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• 27 April

  Thai stocks face hurdles over worst virus outbreak

  

  Bloomberg Thai equities face new hurdles as the country’s worst Covid-19 outbreak will further squeeze corporate earnings and delay an economic recovery, according to Thailand’s second-biggest private money manager. Investor optimism over prospects for a return of foreign tourists has been eroding amid a new wave of the virus that took hold this month, said Vasin Vanichvoranun, executive chairman at ...

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• 27 April

  UAE, EU host session on combating money laundering, terror financing

  

  ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) held a virtual workshop with European Union (EU) officials, discussing the importance of a multi-agency approach to parallel investigations. The sessions explored ways to employ Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) intelligence to disrupt and dismantle illicit networks. The sessions also addressed cooperation among ...

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• 27 April

  Abu Dhabi’s IHC acquires 40% stake in healthcare firm RPM

  

  ABU DHABI / WAM International Holding Company (IHC), one of Abu Dhabi’s leading conglomerates, acquired 40 percent stake in Response Plus Medical Services (RPM) through one of its subsidiaries. RPM was established in 2010 and has become one of the UAE’s largest provider of on-site healthcare management and medical emergency transfers from remote work sites. It provides medical support for ...

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• 27 April

  Bahrain-GCC trade hits $1.76 billion in Q1 2021

  

  Manama / Emirates Business The total value of trade between the GCC and Bahrain in Q1 2021 reached $1.76 billion, a rise of 6 percent compared to the same period last year, according to the latest figures released by Bahrain’s eGovernment and Information Authority. Accounting for more than a third of this figure, non-oil bilateral trade between the UAE and ...

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• 27 April

  Oil buckles under pressure from India’s Covid-19 resurgence

  

  Bloomberg Oil falls as India’s worsening Covid-19 crisis weighed on the near-term outlook for demand ahead of a key Opec+ meeting later this week. Futures in New York slid 1.7% towards $61 a barrel. Signs of strain on India’s refiners are starting to emerge. Mangalore Refinery & Petrochemicals Ltd. has cut processing rates, while Indian Oil Corp has so far ...

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• 27 April

  HFZA remains first choice for foreign investments

  

  Sharjah / WAM The Hamriyah Free Zone (HFZA)-based Awail Al-Sham, owner of the Al Awail brand for prayer times clock and other innovative e-products, has announced that its products have become available in 100 markets worldwide, as opposed to 50 markets in 2013, the year in which the company has opted for the HFZA as its new headquarters, achieving a ...

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• 27 April

  Etihad partners with Esports team Nigma

  Abu Dhabi / WAM Etihad Airways on Monday announced a partnership with World Champion Esports team “Nigma”, the organisation founded by The International 7 champions. Nigma will be the first esports team ever to be sponsored by a major airline and the Abu Dhabi based Etihad Airways will make sure the team and its support staff will arrive, relaxed, refreshed ...

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