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  Bloomberg Citigroup joined other investors in helping mPharma, a Ghanaian health startup, to raise $35 million for further expansion in Africa. Jam Fund Management II, Social Capital and Lux Capital Management provided equity of $30 million, while Citigroup approved a loan of $5 million for the venture, mPharma CEO Gregory Rockson said. Founded in 2013, mPharma is building a drug ...

  Bloomberg Wells Fargo & Co Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. Norton, 55, will retire from the bank at the end of June, and a replacement will be named in coming weeks, Wells Fargo told staff in a memo. “Strengthening our risk and ...

  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, ...

  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 ...

  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 ...

  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 ...

  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 ...

  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, ...

  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 ...

  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 ...