January, 2023

• 17 January

  China’s PBOC adds less cash than expected before lunar holidays

  

    Bloomberg China’s central bank added less cash than expected into the banking system via policy loans while keeping the rate unchanged this month even with funding demand on the rise into Lunar New Year holidays. The People’s Bank of China (PBOC) injected a net 79 billion yuan ($11.8 billion) via its one-year medium-term lending facility this month, less than the ...

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• 17 January

  ‘UBS doesn’t plan to buy US firms, Credit Suisse’

  

    Bloomberg UBS Group AG doesn’t plan acquisitions in the US “in the foreseeable future” and has no intention to buy Credit Suisse Group AG, the bank’s chairman Colm Kelleher told Swiss newspaper Neue Zuercher Zeitung. UBS hasn’t yet realised its full potential in the US, Kelleher said in an interview. “We need to get our wealth management business up ...

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• 16 January

  US banks see consumers piling on debt, boosting bottom lines

  

    Bloomberg US banks see tougher times ahead for consumers. That may not be so bad for the banks. The heads of the nation’s four largest lenders — JPMorgan Chase &, Bank of America Corp., Wells Fargo & Co. and Citigroup — took turns in calls describing customers who are drawing down savings, piling up debt on credit cards and ...

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• 16 January

  Yen option cost advances to three-year high

      Bloomberg The cost to hedge against volatility in dollar-yen over the coming week has risen to the highest level in almost three years as traders brace for any more Bank of Japan (BOJ) surprises on Wednesday. By raising the cost of the contracts, option sellers are trying to reduce the expense of being caught off guard again after ...

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• 16 January

  Equity rally declines amid unease about macro risks

  

    Bloomberg Global equities faltered after their best start to a year in a generation as investors assessed whether the rally has gone too far given the outlook for the inflation, growth and earnings. The MSCI ACWI Index slipped for the first time in seven days after posting the biggest advance for the first two weeks in data going back ...

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• 16 January

  FOMO stirs again in Bitcoin’s best start since before pandemic

  

    Bloomberg Bitcoin has bolted out of January’s starting gates with a climb of more than 28%, turning up the heat on bears who anticipated more challenges for riskier investments after sharp selloffs in 2022. The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit. ...

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• 16 January

  UAE launches $43.2b worth of eco-friendly energy projects

  

  Abu Dhabi / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said the UAE has launched 11 environmentally-friendly energy projects worth AED159 billion ($43.29 billion) in 2022. In an interview with the Emirates News Agency (WAM), Al Mazrouei stated that the UAE’s clean energy production in 2021 totalled 7,035.75 megawatts (MW), underscoring the country’s pioneering efforts in the ...

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• 16 January

  UAE, Serbia explore ways to boost bilateral cooperation

  

    Abu Dhabi / WAM President of Serbia, Aleksandar Vučić, has received HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, in the capital Belgrade. During the meeting, HH Sheikh Abdullah conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the President of Serbia and his wishes for more progress ...

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• 16 January

  UN official hails Sheikha Fatima’s efforts in empowering women

    Abu Dhabi / WAM Martha Pobee, United Nations Assistant Secretary-General for Africa, hailed the efforts of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Chairwoman of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF) (Mother of the Nation), in empowering Emirati women. Pobee also lauded the efforts ...

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• 16 January

  Suqia board of trustees discuss plans for 2023

  

    Dubai / WAM The Board of Trustees of the UAE Water Foundation (Suqia UAE), under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives, discussed Suqia’s plans for 2023 in its meeting. The meeting was chaired by Saeed Mohammed Al Tayer, Chairman of the Board of Trustees, and in the presence of the board members, who included ...

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