January, 2023

• 6 January

  Britain house prices may decline by 8% this year, says Halifax

  

  Bloomberg UK house prices are on track to drop 8% this year after declining for four months in a row, one of the nation’s biggest mortgage lenders said. Halifax said its measure of property prices fell 1.5% last month after a 2.4% decline in November. The figures are similar to a reading from Nationwide Building Society, which last week reported ...

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• 6 January

  GSK, CureVac plan further patient trials

    Bloomberg GSK Plc and CureVac NV are planning further patient trials of their messenger RNA vaccines for flu and Covid-19 after promising early results, though the partners still lag behind rivals in the race to expand use of mRNA technology. The partners’ second-generation vaccine candidates showed promising abilities to spur the immune system in early-stage trials, CureVac said. The ...

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• 6 January

  Euro-zone inflation’s sharp drop masks underlying pressures

  

  Bloomberg Euro-area inflation returned to single digits for the first time since August, fuelling hopes that the bloc’s worst-ever spike in consumer prices has peaked. December’s reading came in at 9.2%, Eurostat said, with slower growth in energy costs the only reason for the moderation. The figure reflects slowdowns in Germany, France, Italy and Spain and was less than the ...

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• 6 January

  China to reclaim third of global emerging-market stock gauge

  

    Bloomberg China’s equities are poised to claim back a one-third weighting in a benchmark emerging-markets index, following a sharp outperformance sparked by an easing of strict Covid-19 curbs and a pivot to pro-growth policies. Stocks listed in the mainland and Hong Kong now account for 32.2% of the MSCI Emerging Markets Index, up from 26.8% in October. The MSCI ...

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• 6 January

  Citigroup strategists prefer cheaper Europe stocks over US equities

  

    Bloomberg European stocks better reflect the coming slide in earnings than pricey US peers, according Citigroup Inc. strategists. A team led by Robert Buckland raised European equities to overweight on Friday, saying valuations already discount a 15% drop in earnings. At the same time, they cut US shares to underweight on the grounds that earnings expectations are still too ...

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• 6 January

  Sheikh Theyab launches ‘Qidfa Development’ project in Fujairah

  

  Fujairah / WAM HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Emirates Council for Balanced Development, has launched the ‘Qidfa Development’ in the emirate of Fujairah, which is the first project of the ‘Emirates Villages’, an initiative aimed at creating a sustainable development model. HH Sheikh Theyab said ...

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• 6 January

  UAE strongly condemns terrorist attack in Somalia

    Abu Dhabi / WAM The UAE strongly condemned the terrorist attack that took place in the Hiraan region, central Somalia, which resulted in the death and injury of numerous people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed that the UAE expresses its strong condemnation of these criminal acts and its permanent rejection of ...

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• 6 January

  Adib ups stake in Egyptian unit to more than 52.6%

  

  Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) has announced the increase of its ownership in Adib Egypt to more than 52 percent. In a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday, Adib stated that it had acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4% of Adib Egypt’s share capital. The deal has ...

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• 6 January

  Alpha Dhabi, Mubadala form JV to invest AED9b in global credit market

  

    Abu Dhabi / WAM Alpha Dhabi Holding and Mubadala Investment Company on Thursday announced the formation of a joint venture (JV) to co-invest in credit opportunities. Alpha Dhabi and Mubadala aim to collectively deploy up to AED9 billion over the next five years, leveraging Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers, ...

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• 6 January

  Mukesh Ambani focuses on $75 billion green bet

  

    Bloomberg Mukesh Ambani, the billionaire chairman of Reliance Industries Ltd, will be focusing his attention on the Indian conglomerate’s pivot to green energy, according to people familiar with the matter, after putting his children in charge of other businesses. The 65-year-old will oversee strategy, including the building of gigafactories and blue hydrogen facilities, will assess acquisition targets, and is ...

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