December, 2022

• 23 December

  MUFG weighs share buybacks to boost returns as cash grows

  

    Bloomberg Japan’s biggest bank sees value in further share buybacks as its $7.5 billion deal to sell a US regional lender adds to a growing cash pile. “We are always looking for growth investment opportunities,” Hironori Kamezawa, chief executive officer of Mitsubishi UFJ Financial Group Inc, said in an interview, adding that the lender will consider acquisitions in Asia ...

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• 23 December

  Credit Suisse files complaint against Zurich financial blog

  

    Bloomberg Credit Suisse Group AG has filed a criminal complaint against a Zurich financial blog, ratcheting up a legal attack begun over readers’ comments attached to a series of stories it ran about the Swiss bank earlier this year. The complaint, which the blog Inside Paradeplatz confirmed, follows a 265-page civil lawsuit filed over comments that the bank said ...

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• 23 December

  Naira heads for its worst losing streak in 2 years

    Bloomberg Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar in the spot market. The currency has dropped 6.3% this year in the official market, where the rate is tightly controlled ...

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• 23 December

  UBS, Deutsche Bank target India rich as China’s appeal cools

  

    Bloomberg Global private banks are rushing to hire advisers for India’s rich, as China’s slowdown and a gloomier global outlook turn the nation into a bright spot for wealth management. UBS Group AG, Deutsche Bank AG, and Julius Baer Group Ltd are among firms hiring private bankers to serve clients from the world’s fifth-biggest economy, which has an estimated ...

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• 23 December

  China tech stocks are winning back investors after awful year

  

  Bloomberg After a rout that rivalled the burst of the US dot-com bubble, things are looking better for Chinese tech stocks in 2023 as regulatory headwinds ease and earnings prospects improve. The sector, once dubbed “uninvestable”, has regained favour among Wall Street analysts and investors as China’s reopening spurs hopes for an economic recovery and a long-standing auditing spat with ...

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• 23 December

  UK suffers record equity outflows in year of turmoil

  

  Bloomberg UK stocks suffered record annual outflows in 2022, marking the seventh year in a row that investors have fled the country’s markets. UK equity funds have had $26.3 billion of redemptions so far this year, according to data from EPFR Global. That coincides with a slump of 20% for the domestic-skewed benchmark FTSE 250 Index, the most since 2008. ...

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• 23 December

  Emirati, Kazakh ties a successful model of bilateral cooperation

    Abu Dhabi / WAM Madiyar Menilbekov, Ambassador of Kazakhstan to the UAE, stressed that the ambitious objectives, similar aspirations and mutual respect of the UAE and Kazakhstan have strengthened their bilateral relations. At a press conference held at the embassy’s headquarters in Abu Dhabi for the launch of a book on the 30th anniversary of the establishment of diplomatic ...

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• 23 December

  Digital economy in GCC region advancing rapidly

  

  Muscat / WAM Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, stressed that the digital economy of the Gulf Cooperation Council (GCC) region is advancing at a rapid and significant pace, noting its major importance to GDP. He also noted the importance of promoting cooperation between the GCC and its international partners to increase the ...

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• 23 December

  Dell Technologies, G42 Cloud ink deal to accelerate digital transformation efforts

  

    Dubai / WAM Dell Technologies and G42 Cloud have signed a memorandum of understanding (MoU) to help customers in the UAE accelerate their digital transformation drive by collaborating on cloud, security and IT and managed services. The MoU was signed by Walid Yehia, General Manager – UAE, Dell Technologies, and Talal Al Kaissi, CEO of G42 Cloud, at the ...

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• 23 December

  UAE, Canada to enhance ties in transport sector

    Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy, highlighted the deep-rooted relations between the UAE and Canada, and noted that they have witnessed significant overall growth, aided by the support of their leadership. He made this statement during his meeting with Omar Alghabra, Canadian Minister of Transport, at headquarters of Ministry of Economy in Dubai. ...

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