December, 2022

• 12 December

  China’s credit stays subdued despite PBOC’s lending push

  

    Bloomberg China’s credit expanded at a slightly slower pace than expected in November after plunging in the previous month, despite efforts by the central bank to boost lending and ease restrictions on property loans. Aggregate financing, a broad measure of credit, was 2 trillion yuan ($287 billion) last month, the People’s Bank of China (PBOC) said, marginally below the ...

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• 12 December

  Star Southeast Asia unicorns see $51bn gone since listings

  

  Bloomberg Global investors who put their faith in three of Southeast Asia’s high-profile tech startups are facing a grim reality that’s seen the firms lose $51 billion in value in the past year-and-a-half since their equity debuts. Singapore-based ride-hailing firm Grab Holdings Ltd., which listed in New York about a year ago, has shed over 70% of its market value. ...

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• 12 December

  Morgan Stanley, Goldman Sachs say earnings are biggest risk for stocks

  

  Bloomberg This week’s US inflation print and Federal Reserve decision might be at the forefront of most investors’ minds, but for some of Wall Street’s most prominent strategists it’s the prospect of future profit downgrades that’s the biggest worry for stocks. According to notes from Morgan Stanley’s Michael Wilson and Goldman Sachs Group’s David Kostin, earnings could contract more than ...

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• 12 December

  Saudi Arabia’s economy grows 8.8% in Q3 2022

  

  Riyadh / WAM Saudi Arabia’s real gross domestic product (GDP) grew by 8.8 percent in the third quarter of 2022 compared to the same period last year driven by an increase in oil activities, according to a report released by the General Authority for Statistics (Gastat). Gastat noted that the real GDP growth in the third quarter was up 2.1 ...

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• 11 December

  UAE wishes transitional President of Burkina Faso on Republic Day

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a congratulatory cable to Ibrahim Traoré, the President of the transitional period and President of Republic of Burkina Faso, on the occasion of his country’s Republic Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler ...

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• 11 December

  Nature-based solutions can generate 20mn new jobs: UN

  

    Geneva / WAM Some 20 million jobs could be created by investing in policies that support nature and address climate change, disaster risk, food insecurity, and other major challenges, according to a UN report Launched by the International Labour Organization (ILO), UN Environment Programme (UNEP) and International Union for Conservation of Nature at the UN’s Biodiversity Conference (COP15) in ...

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• 11 December

  Air India nears deal for 150 Boeing 737 Max jets

  

    Bloomberg Tata group-owned Air India Ltd. is close to signing a deal with Boeing Co to buy up to 150 737 Max planes, marking the first major aircraft order after the carrier’s privatisation, the Economic Times reported, citing people it did not identify. Air India is likely to place a firm order for 50 737 Max jets with an ...

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• 11 December

  Museum of the Future receives global award

    Dubai / WAM The Museum of the Future received a global award recognising its commitment to diversity, accessibility, inclusion, and equity, reflecting its vision for a brighter future that is designed with everyone in mind. The museum won a Roy L Shafer Leading Edge Award, also known as an ‘Edgie’, which is presented by the Association of Science and ...

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• 11 December

  VP witnesses historic launch of UAE-built Rashid Rover

  

    Dubai / WAM The United Arab Emirates launched its latest space mission, Rashid Rover, as part of the Emirates Lunar Mission, representing a pioneering national endeavour in the space sector and a historic moment that, if successful, will be the first Emirati and Arab mission to land on the surface of the moon. His Highness Sheikh Mohammed bin Rashid ...

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• 11 December

  Free zones play a key role in supporting economies

  

    Dubai / WAM Dr Mohammed Al Zarooni, Chairman of the World Free Zones Organisation (World FZO), headed a delegation from the World FZO on an official visit to the Dominican Republic and the Republic of Cuba to outline trends and factors to advance the future growth of free zones, in addition to identifying bilateral cooperation mechanisms to support the ...

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