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Bloomberg The central bank of Kenya needs “teeth” to rein in more than 100 lenders, who charge interest rates as high as an annualised 500% for loans disbursed over digital channels, according to Governor Patrick Njoroge. The regulator wants the mobile-phone based and online lenders to disclose more information, including the source of funds and details on ownership for the ...

Bloomberg American stock-index futures were mixed on Wednesday as investors evaluated a surprise US inflation jump that stirred the debate on how long the Federal Reserve will maintain ultra-loose policy. Contracts on the S&P 500 fluctuated, while those on the Nasdaq 100 gained after US tech giant Apple Inc. was said to have prepared suppliers for a boost in next-generation ...

Bloomberg Count small-cap stocks among the casualties of the quickly unraveling reflation trade. The Russell 2000 Index fell more than 1% as the fastest inflation since 2008 fueled concern over pricing pressures and the growth potential of smaller US companies. The retreat contrasts with a gain in the Nasdaq 100, where technology megacaps are increasingly favoured for their strong earnings ...

ABU DHABI / WAM Taulant Balla, Deputy Speaker of the Albanian Parliament, has affirmed that the UAE is a beacon of peace and tolerance in the region, expressing his appreciation for the UAE and its wise leadership for providing continuous support to Albania and its people. In an interview with the Emirates News Agency (WAM), Balla said that the Emirati-Albanian ...

ABU DHABI / WAM Masdar on Tuesday announced that it is expanding its footprint in the Republic of Uzbekistan, with the signing of agreements to develop two photovoltaic (PV) power projects in the country for a combined capacity of 440 megawatts. Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed the Investment Agreements for ...

ABU DHABI / WAM Mohammed Thani Murshid Al Rumaithi, Chairman of the Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber) and Chairman of the UAE Federation of the Chambers of Commerce and Industry, has received Jorge Agustin Arambarri, Ambassador of Argentina to the UAE, at the Chamber’s tower in Abu Dhabi to discuss trade and economic cooperation between ...

TUNIS / WAM The UAE has dispatched an aircraft carrying 500,000 doses of the Covid-19 vaccine to Tunisia to curb the spread of the virus. This urgent response comes in line with the directives of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to enhance the health conditions ...

Abu Dhabi / WAM – Bloomberg World hunger spiked last year, outpacing population growth and probably reaching the highest since 2005, as the Covid-19 pandemic curbed incomes and access to food, according to the United Nations. As many as 811 million people — about a 10th of the global population — were undernourished in 2020, a UN report said. The ...

Bloomberg Hotel occupancy in the capital of the United Arab Emirates surged in June to the highest level since the start of the coronavirus pandemic. Abu Dhabi hotels were 68.5% full last month, according to preliminary data from research firm STR. Revenue per available room, a key measure of profitability, was 219.81 dirhams ($59.67), the highest since February. Room rates ...

Abu Dhabi / WAM Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, on Tuesday announced the start-up of the second phase of its expansion to Al Taweelah smelter in Abu Dhabi. The expansion adds 26 new reduction cells to Potline 2, boosting production capacity by over 30,000 tonnes of hot metal ...