January, 2023

• 2 January

  NY governor promises to reduce crime

  

    Bloomberg New York Governor Kathy Hochul promised to reduce crime, improve affordability and stem the state’s population loss as she took the oath of office for her first full term. Hochul’s inauguration capped a remarkable ascendancy in New York politics, becoming the first woman to take the state’s top office in her own right, after inheriting it in 2021 ...

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• 2 January

  BOK’s governor flags need to keep focus on inflation

  

    Bloomberg The Bank of Korea (BOK) should keep its policy focus on fighting inflation and be ready to help stabilise markets, Governor Rhee Chang-yong said in a New Year speech. Inflation is the most important factor for people’s livelihoods and is expected to remain elevated, Rhee said, according to a transcript of his remarks released by the BOK. The ...

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• 2 January

  Croatia joining euro shows its appeal endures: Lagarde

  

    Bloomberg European Central Bank (ECB) President Christine Lagarde said the currency union’s newest member proves that the euro has lasting appeal. “Croatia worked hard to become the 20th member of the euro area, and it succeeded,” Lagarde said in a statement. “It shows the euro is an attractive currency, which brings stability to its members.” The Adriatic country of ...

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• 2 January

  ECB raises Deutsche Bank capital bar in leveraged loan crackdown

  

    Bloomberg Deutsche Bank AG confirmed it faces a higher capital requirement as its main regulator pushes lenders to dial back the risks they face in the lucrative business of leveraged finance. The German lender must hold common equity Tier 1 capital equivalent to 10.55% of its risk-weighted assets this year, up from 10.43% at the end of September, it ...

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• 2 January

  More actions must to curb price expectations: ECB

    Bloomberg European Central Bank (ECB) Governing Council member Joachim Nagel said additional measures are needed to curb rising expectations of future prices and return inflation to the 2% goal. “Our monthly surveys of firms and households are showing a significant increase in long-term inflation expectations,” Nagel said in an interview with the Zeitschrift für das gesamte Kreditwesen. The ECB ...

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• 2 January

  China stock investors eyeing better 2023 after $3.9tn rout

  

    Bloomberg While China stock bulls had another miserable year, their fortunes may finally improve in 2023 if the nation’s abrupt reopening from the Covid-19 restrictions eventually leads to a robust economic recovery. The Hang Seng China Enterprises Index, which tracks Chinese firms listed in Hong Kong, just suffered a third straight year of declines, a record losing streak since ...

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• 2 January

  As roads split in 2022 stocks, one trade made all the difference

  

    Bloomberg The worst year for equity bulls since 2008 will also be remembered as one when the predominant investment strategies veered from one another by the most in two decades. Divergent fortunes befell the most famous US stock benchmarks, with the S&P 500’s annual loss of almost 20% more than twice that of the Dow Jones Industrial Average. A ...

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• 2 January

  UAE condemns terrorist attack on Egyptian security forces in Ismailia

  

    Abu Dhabi / WAM The UAE strongly condemned the terrorist attack that targeted an Egyptian security checkpoint in Ismailia, which resulted in deaths and injuries. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed the UAE’s full support for all measures undertaken by the Egyptian government to protect its sovereignty and security, and combat terrorism. In a statement, ...

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• 2 January

  AD Ports group witnesses remarkable growth in ’22

  

    Abu Dhabi / Gulf Time AD Ports group delivered on its commitment to produce remarkable results and extend its international reach in its first year as a publicly traded company, with 2022 becoming one of the most important years in the company’s storied history so far. The year started with the listing of AD Ports group’s shares for the ...

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• 1 January

  UAE leaders send New Year greetings to world leaders

    Abu Dhabi / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent cables of congratulations to Their Highnesses and Majesties, presidents, kings and princes of friendly countries around the world, on the occasion of the New Year, 2023. President His Highness Sheikh Mohamed wished them good health, and their peoples more progress and prosperity. His Highness ...

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