February, 2021

• 16 February

  US energy crisis deepens with nearly 5mn in dark

  

  Bloomberg The energy crisis crippling Texas’s power system continued to spread, with nearly 5 million people across the US plunged into darkness as authorities fought to avoid a total collapse of the grid. Homes and businesses from North Dakota to Texas are losing power in the middle of an unprecedented deep freeze that has broken daily temperature records in hundreds ...

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• 16 February

  Global stocks set for longest winning streak in 17 years

  

  Bloomberg Global stocks are in the midst of the longest run of gains in 17 years as optimism over the economic recovery sweeps across markets. The MSCI benchmark for emerging and developed market stocks has risen for 12 straight sessions, while US equities were set to open higher after a public holiday. In Japan, the Nikkei 225 Stock Average extended ...

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• 16 February

  HSBC among top bank share gainers in Asia on reflation bets

  

  Bloomberg HSBC Holdings Plc and Standard Chartered Plc’s Hong Kong shares are among top gainers of bank stocks across the region on optimism faster economic growth and higher interest rates will stoke profits. HSBC shares jumped as much as 6.9%, while Standard Chartered gained 6.3% on Tuesday after a two-day market close. The MSCI AC Asia Pacific Financials Index rise ...

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• 16 February

  Imax leads China film stocks higher on record ticket sales

  Bloomberg Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed local box-office revenue hit a record high for the Lunar New Year. Ticket sales for the first five days of the Lunar New Year holidays starting Feb. 11 touched 5.7 billion yuan ($880 million), about 33% more than the same period in 2019, which was ...

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• 15 February

  Edge signs tri-party defence pact valued at AED3.67b

  

  ABU DHABI / WAM Edge, the UAE’s advanced technology group for defence and beyond, on Monday announced it signed a tri-party strategic cooperation agreement with Ukrainian state-owned defence conglomerate UkrOboronProm, and Ukrspecexport, a Ukrainian state-owned arms trading company. The agreement will enable the three entities to exchange and develop advanced technologies that could lead to over $1 billion worth of ...

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• 15 February

  UAE, Africa non-oil trade totals AED149b in 9 months of 2020

  

  ABU DHABI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the value of non-oil trade between the UAE and Africa totalled $40.7 billion in the first nine months of 2020, compared to $36.9 billion in the same period of 2019, underscoring the growing trade between the UAE and African countries despite the ...

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• 15 February

  Adnoc Distribution Q4 profit reaches AED851m

  

  ABU DHABI / WAM Adnoc Distribution on Monday reported that its net profit for the fourth quarter of 2020 grew to AED851 million, with underlying EBITDA (EBITDA excluding one-offs and inventory gains/losses) of AED1.1 billion. For the year 2020, net profit was AED 2.4 billion, while underlying EBITDA stood at AED3.6 billion. Adnoc Distribution has maintained a strong balance sheet ...

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• 15 February

  UAE rulers condole King Salman on death of Saudi Princess

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, sent a cable of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on the death of Princess Lamia bint Hathloul bin Abdulaziz Al Saud. HH Sheikh Khalifa expressed his heartfelt condolences and solace on the death of Princess Lamia. His ...

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• 15 February

  Bahrain’s Investcorp acquires industrial assets in South Wales

  

  BAHRAIN/ WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of Investcorp’s affiliates has acquired a portfolio of 13 multi-let industrial assets in South Wales. The acquisition continues Investcorp’s strategy of investing in industrial real estate and represents its first real estate investment in the Welsh market, the company ...

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• 15 February

  Mubadala, Ukrainian firms explore investment prospects

  

  ABU DHABI / WAM Mubadala Investment Company has announced the signing of a number of Memoranda of Understanding with various Ukrainian government and private entities. Held at Masdar City during a visit by Ukrainian President Volodymyr Zelensky, the First Lady of Ukraine Olena Zelenska, and other high-level government officials and dignitaries, three MoUs were signed with Ukrainian government entities that ...

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