December, 2022

• 22 December

  Smaller rate increases in play as Indonesia turns eye to growth

  

    Bloomberg Indonesia’s central bank slowed the pace of its monetary tightening, in a move seen to support growth as inflationary pressures ease. Bank Indonesia (BI) opted to raise the key rate by a quarter-point to 5.5%, marking a shift to “more measured” moves after three successive half-point actions to tame inflation. As the outlook for the global economy deteriorates ...

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• 22 December

  ECB’s Guindos says half-point hikes may become ‘new norm’

  

  Bloomberg European Central Bank (ECB) Vice President Luis de Guindos said interest-rate hikes like half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation. Despite forecasts for a winter recession in the 19-nation euro zone, monetary-policy tightening must continue, Guindos told France’s Le Monde in an interview published on the ECB’s ...

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• 22 December

  Former Credit Agricole trader alleges racial bias

    Bloomberg A former senior trader at Credit Agricole in New York sued the bank alleging he was subject to “stereotypically offensive, overtly racist, and degrading comments” as a Latinx person and denied career advancement and monetary rewards. Jose Ruiz, onetime head of emerging-markets foreign-exchange trading at Credit Agricole, filed suit in federal court in Manhattan. The complaint named as ...

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• 22 December

  JPMorgan announces slew of emissions reductions targets

  

    Bloomberg JPMorgan Chase & Co is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers. The largest US bank said in this year’s climate report that it plans to reduce the carbon intensity of its aviation financing portfolio by 36% by 2030 from a 2021 ...

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• 22 December

  US stocks falter after rally, assess economic outlook

  

    Bloomberg US equity futures faltered, struggling to hold the momentum that propelled the S&P 500 to its best daily gain in three weeks, as investors assessed whether the world’s biggest economy can skirt worst-case recession scenarios. Futures contracts on the S&P 500 and the Nasdaq 100 index flat-lined after Wednesday’s 1.5% boost for the underlying indexes as US consumer ...

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• 22 December

  Energy stocks will be hot again in 2023

  

    Bloomberg After two straight years of big gains, energy stocks could outperform the market again in 2023, but this time it will be higher dividends rather than oil that will spur appetite for the sector. In an effort to lure income investors, energy firms have aggressively boosted dividends over the last 12 months. Diamondback Energy Inc increased its payout ...

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• 22 December

  UAE gears up to host International Summit of Women 2023 in February

  

  Abu Dhabi / WAM The UAE is preparing to host the International Summit of Women 2023, which will take place in Abu Dhabi on February 21-22, 2023, under the theme “Role of Female Leaders in Establishing Peace and Social Integration, and Driving Prosperity”. The event will be held under the patronage of HH Sheikha Fatima bint Mubarak, Chairwoman of the ...

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• 22 December

  Mother of the Nation Festival extended on popular demand

    Abu Dhabi / WAM The Mother of the Nation Festival (Motn) will return with more action, shopping and mouth-watering cuisine from December 23 to January 1. The festival is returning by popular demand, to kick off the festive season in style on the Abu Dhabi Corniche. With new and exciting entertainment in store, visitors can expect more fun, more ...

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• 22 December

  Oil surges to two-week high as US crude stockpiles decline

  

  Bloomberg Oil rallied to the highest since early December as US crude inventories decline more than anticipated. West Texas Intermediate futures for February delivery edged above $78 a barrel. US crude stockpiles fall 5.90 million barrels last week, according to an Energy Information Administration (EIA) report on Wednesday. Trading volumes have generally been below average this week ahead of the ...

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• 22 December

  Abu Dhabi sets out rules on utility bills, pricing, defaults

  

  Abu Dhabi / WAM Abu Dhabi Department of Energy (DoE) has launched a consumer protection policy to protect the interests of energy and water consumers in the emirate. The policy outlines a regulatory framework and assigns roles and responsibilities to companies that supply energy, water, sewerage, and district cooling services in the emirate. The aim of the new consumer protection ...

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