German business confidence falls on Russia gas fear

Bloomberg German business confidence unexpectedly deteriorated on mounting fears over energy supplies from Russia that are raising the prospect of a recession in Europe’s biggest economy. A gauge of expectations by the Munich-based Ifo Institute fell to 85.8 in June from 86.9 in May, defying analyst predictions that two months of gains would continue. An index of current conditions edged ...

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Global equity funds see their biggest outflows in 9 weeks

  Bloomberg Global equity funds saw their biggest outflows in nine weeks as investors piled into cash amid fears that the US economy could be headed for a recession. About $16.8 billion exited global stock funds in the week through June 22, with US equities seeing their first outflow in seven weeks at $17.4 billion, Bank of America Corp (BofA) ...

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European stocks to rally after tough first half, say analysts

Bloomberg After what is poised to be the worst first half since 2008 for European equities, strategists are optimistic that at least some of the losses will be clawed back by the end of the year. The Stoxx Europe 600 Index will end December at 467 index points, according to the average of 15 forecasts in Bloomberg’s monthly survey. That ...

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Abu Dhabi’s Taqa lists nine bonds worth $8.3b on ADX

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) on Thursday announced that Abu Dhabi National Energy (Taqa) PJSC has made a secondary listing on the ADX of nine bonds with a total value of $8.25 billion, maturing between 2023 and 2051. The bonds were largely issued as part of Taqa’s Global Medium Term Note Programme and are ...

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UAE to issue dollar-denominated dual-tranche sovereign bonds

  ABU DHABI / WAM The Federal Government of the UAE, represented by the Ministry of Finance, has announced the plan to issue a Dual-tranche USD Benchmark Size Bonds with a ten-year tranche and a 30-year Formosa tranche. The ten-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on ...

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Dubai to help to modernise Romania’s Constanta Port

  Dubai / WAM The Romanian government has signed an agreement with Dubai’s Ports, Customs and Free Zone Corporation (PCFC) and DP World to develop new infrastructure at the Port of Constanta. The agreement with the Dubai entities will help modernise and turn the Port of Constanta into one of the Black Sea’s most important cargo and vehicle hubs. The ...

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UAE receives 41% share of FDI projects attracted by Arab nations

Kuwait / WAM / Kuna The United Arab Emirates has received a 41 percent share of foreign direct investment projects Arab countries attracted between 2003 and 2021. According to the Arab Investment Export Credit Guarantee Corporation (Dhaman), Arab countries have attracted 14,443 foreign projects with a total capex of $1.3 trillion over the last 19 years. The corporation said in ...

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EIG inks deal to supply gas to projects of Q Properties

  Abu Dhabi / WAM Emirates International Gas (EIG), a subsidiary of EHC Investment, has signed a memorandum of understanding (MoU) with Q Properties, a subsidiary of Q Holding, to supply gas to Q Properties projects. Under the MoU terms, EIG will provide the development company with a range of services related to the supply of gas to properties, including ...

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UAE President orders aid air bridge to provide relief to Afghan-quake victims

Abu Dhabi / Agencies Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, an air bridge carrying food and medical supplies has begun operating to Afghanistan, and a medical team and field hospital have been dispatched. The aid shipment comes as part of the UAE’s efforts to address the current situation in Afghanistan and its effective ...

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Etihad Rail signs AED1.2b deal for passenger trains with Spain’s CAF

Abu Dhabi / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Crown Prince Court and Chairman of Etihad Rail, has visited the final package of Stage Two of the UAE National Rail Network, which extends for 145 kilometres from Sharjah to Fujairah Port and Ras Al Khaimah, to review the progress of rail construction works ...

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