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BLOOMBERG Indian central bank’s policy to keep the rupee stable at weaker levels may make the currency vulnerable to “speculative attacks” in case of large risk events, according to Australia & New Zealand Banking Group (ANZ) . Policymakers are focused on bolstering manufacturing and exports, but it’s not without costs, economists Dhiraj Nim and Sanjay Mathur wrote in a note. ...

BLOOMBERG HSBC Holdings Plc has hired Alex Hong from Evercore Inc to lead the bank’s dealmaking efforts in Singapore. Hong, who has been at Evercore for almost a decade, is set to join HSBC in September, a spokesperson for the UK lender confirmed in response to a Bloomberg News query. He will report to Sandeep Pahwa, head of investment banking ...

BLOOMBERG The recent selloff in crypto markets is likely near an end, with long-position liquidations “largely behind us,” according to a research report by JPMorgan Chase & Co. The fading of some positive legal and regulatory news induced a wave of selling in recent weeks that is “still reverberating,” though the unwinding appears to be at its end phase, based ...

DUBAI / WAM Dubai Future Foundation (DFF) announced 33 government entities in Dubai have proposed 79 project ideas in the third cycle of the Dubai 10X initiative. Launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council, and Chairman of the Board of Trustees at Dubai Future Foundation, Dubai 10X, ...

AMDJARASS / WAM The Emirati humanitarian team present in Chad continued distributing food parcels to Sudanese refugees and the local community in the villages of Amdjarass in coordination with the UAE Aid Coordination Office. The UAE humanitarian team comprises the Emirates Red Crescent (ERC), the Zayed Bin Sultan Al Nahyan Charitable and Humanitarian Foundation, the Khalifa Bin Zayed Al Nahyan ...

DUBAI / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, stated that the National Strategy for Empowerment of Emirati Women launched by HH Sheikha Fatima bint Mubarak (Mother of the Nation), Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF) ...

BLOOMBERG Alan Joyce is bowing out at Qantas Airways Ltd with an unprecedented cash splurge, underscoring the profitability of the post-Covid era and reigniting concerns about the soaring cost of air travel. The Australian airline sprayed money in all directions as it reported record earnings. Qantas simultaneously spent billions of dollars on Boeing Co and Airbus SE jets, returned A$500 ...

BLOOMBERG Rolex SA is upending the world of luxury watch retailing by buying Bucherer AG in a deal that gives the Swiss brand a major presence in consumer sales for the first time. In a move that could have long-term consequences for rival retailers, the world’s largest luxury watchmaker will now control Bucherer’s more than 100 stores globally. Although the ...

BLOOMBERG  The owner of Amsterdam’s airport urged the Dutch government to provide clarity about the highly-contested plans to restrict capacity at the hub following the collapse of the ruling coalition. Royal Schiphol Group said plans to cut capacity by 8% starting this winter were at an impasse amid legal challenges to the measures by airlines as well as Prime Minister ...

BLOOMBERG Gap Inc reported second-quarter comparable sales and revenue that missed the average analyst estimate, underscoring ongoing weakness at the retailer’s four brands. The results come three days into Chief Executive Officer Richard Dickson’s tenure, who joined the company from Mattel Inc after his success with the Barbie franchise. While Dickson has yet to lay out a vision for the ...