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Bloomberg After a rout that rivalled the burst of the US dot-com bubble, things are looking better for Chinese tech stocks in 2023 as regulatory headwinds ease and earnings prospects improve. The sector, once dubbed “uninvestable”, has regained favour among Wall Street analysts and investors as China’s reopening spurs hopes for an economic recovery and a long-standing auditing spat with ...

Bloomberg UK stocks suffered record annual outflows in 2022, marking the seventh year in a row that investors have fled the country’s markets. UK equity funds have had $26.3 billion of redemptions so far this year, according to data from EPFR Global. That coincides with a slump of 20% for the domestic-skewed benchmark FTSE 250 Index, the most since 2008. ...

  Abu Dhabi / WAM Madiyar Menilbekov, Ambassador of Kazakhstan to the UAE, stressed that the ambitious objectives, similar aspirations and mutual respect of the UAE and Kazakhstan have strengthened their bilateral relations. At a press conference held at the embassy’s headquarters in Abu Dhabi for the launch of a book on the 30th anniversary of the establishment of diplomatic ...

Muscat / WAM Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, stressed that the digital economy of the Gulf Cooperation Council (GCC) region is advancing at a rapid and significant pace, noting its major importance to GDP. He also noted the importance of promoting cooperation between the GCC and its international partners to increase the ...

  Dubai / WAM Dell Technologies and G42 Cloud have signed a memorandum of understanding (MoU) to help customers in the UAE accelerate their digital transformation drive by collaborating on cloud, security and IT and managed services. The MoU was signed by Walid Yehia, General Manager – UAE, Dell Technologies, and Talal Al Kaissi, CEO of G42 Cloud, at the ...

  Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy, highlighted the deep-rooted relations between the UAE and Canada, and noted that they have witnessed significant overall growth, aided by the support of their leadership. He made this statement during his meeting with Omar Alghabra, Canadian Minister of Transport, at headquarters of Ministry of Economy in Dubai. ...

Sharjah / WAM A survey conducted by Nama Women Advancement, in partnership with UN Women, found that 77.6% of women-owned businesses (WOB) in the UAE are led by those under the age of 40. Of the 1,000 female business owners who took part in the survey, 48.8% are CEOs and 61.4% are sole proprietors, a clear indicator that Emirati entrepreneurs, ...

  Dubai / WAM Dell Technologies and G42 Cloud have signed a memorandum of understanding (MoU) to help customers in the UAE accelerate their digital transformation drive by collaborating on cloud, security and IT and managed services. The MoU was signed by Walid Yehia, General Manager – UAE, Dell Technologies, and Talal Al Kaissi, CEO of G42 Cloud, at Dell ...

  Abu Dhabi / WAM The UAE economy has quickly survived the economic impact of the Covid-19, with near-term economic growth being strong, underpinned by a rebound in domestic activity, while elevated oil prices support high surpluses in the fiscal and external balances, according to a top IMF official. “Economic growth has been robust this year, led by a strong ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Programme following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses. The launch of the programme was announced during a media briefing held on Thursday by the ministry to raise public awareness of corporate tax in the UAE and abroad. ...