June, 2023

• 13 June

  UBS plans HK investor event to carry on Credit Suisse legacy

  

  BLOOMBERG  UBS Group AG will host a major conference in Hong Kong next year to carry on the tradition of Credit Suisse Group AG after acquiring its former Swiss rival earlier this week. The event will be held from May 27 to 29 next year in Hong Kong, according to Tim Wannenmacher, co-head of global markets for Asia-Pacific at UBS. ...

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• 13 June

  Shell chief’s latest strategy sees long-term future for natural gas

  

  BLOOMBERG  Shell Plc sees a long-term role for natural gas in the world’s energy mix and aims to expand in key growth markets as Chief Executive Officer Wael Sawan revises the company’s strategy. Liquefied natural gas (LNG) teams are being urged to do more business in China and India, and the company is providing higher bonuses for deals struck in ...

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• 13 June

  Vietnam’s factories boost operations as power shortages ease

  

  BLOOMBERG  Severe power shortages in northern Vietnam are beginning to ease, allowing manufacturers to extend operating hours after blackouts curtailed production. Thousands of factories in the region, which houses plants owned by Samsung Electronics Co and suppliers to iPhone-maker Apple Inc, have gone without sufficient power since nationwide outages began last month. Northern provinces, including Bac Giang, have been worst ...

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• 13 June

  SoftBank-backed firm raises $464mn for solar-leasing unit

  

  BLOOMBERG  The SoftBank-backed solar power startup Enpal said that it has raised €430 million ($464 million) in debt funding to finance its leasing business. DWS and Phoenix Life Limited joined existing investors BlackRock and ING in the refinancing round, according to the company. BlackRock upped its commitment in this round by €100 million, and ING increased its own by an ...

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• 13 June

  TCR Arabia, an Indian JV company, completes 15 successful years in Kingdom of Saudi Arabia

  

  SAUDI ARABIA /GULF TIME TCR Arabia is a company that specializes in engineering services specifically in the field of Material Testing, Advanced Non-Destructive Testing and Metallurgical investigation. Founded in 2007 as a joint venture between TCR Engineering Services (India) and GAS Arabian Service (Saudi Arabia). The company is based in Saudi Arabia and has rapidly established a reputation for reliability ...

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• 13 June

  Kenya’s once-booming stock market buckles under dollar shortages

  

  BLOOMBERG Kenya’s crippling dollar shortage is driving away investors, turning a once-booming stock market into the worst in the world. Nairobi’s All-Share Index has plunged 19% this year, the steepest drop among the almost 100 global indexes tracked by Bloomberg. The nation is in the grip of a foreign-exchange crunch, with major companies and investment firms facing weeks of delay ...

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• 13 June

  Stocks rise as traders dial back Federal Reserve’s bets on CPI

  

  BLOOMBERG Wall Street got some encouragement to keep pushing stocks higher after a slowdown in inflation bolstered speculation the Federal Reserve will pause its tightening campaign on Wednesday. That’s not to say investors are betting the Fed is done with its interest-rate hikes just yet. While swap traders lowered their wagers on a June increase to about 10%, they still ...

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• 12 June

  UAE, India celebrate one year of Cepa, review latest trade data

  

  NEW DELHI / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has held a bilateral meeting with Piyush Goyal, India’s Minister of Commerce and Industry in New Delhi, India, to celebrate the first year of the Comprehensive Economic Partnership Agreement (Cepa) between the two nations and review the newly released trade data. Initial figures from ...

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• 12 June

  Sinaha to build Abu Dhabi facility for sustainable automotive manufacturing

  

  ABU DHABI / WAM Sinaha Platform has announced the signing of an agreement with international partners to build the first automobile facility in Abu Dhabi that manufactures automobiles from recyclable materials. This move aims to establish Abu Dhabi as a prominent auto hub for sustainable production. This initiative marks a significant milestone for the country’s automotive industry, contributing to the ...

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• 12 June

  Sheikh Mohammed: Arab World is home to thousands of Hope Makers

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is calling upon hope makers in the Arab world as the 4th edition of Arab Hope Makers initiative for 2023 kicks off. The largest initiative of its kind in the Arab region, the Hope Makers initiative celebrates individuals ...

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