December, 2022

• 15 December

  US sanctions Russia’s richest tycoon Potanin

    Bloomberg The US sanctioned Vladimir Potanin, Russia’s richest tycoon and the president and biggest shareholder of mining giant MMC Norilsk Nickel PJSC, but left his company untouched as it tries to maintain stability in the metals market. The action against Potanin was part of a broader sanctions package the Treasury Department rolled out targeting some 40 people linked to ...

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• 15 December

  PBOC injects more liquidity amid bond market turmoil

  

    Bloomberg China’s central bank pumped more cash than forecast into the banking system in December, in a move that’s expected to bolster bonds roiled by the nation’s abrupt Covid policy shift. The People’s Bank of China (PBOC) injected 650 billion yuan ($94 billion) via its one-year medium-term lending facility, more than the 500 billion yuan due this month. Five ...

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• 15 December

  HSBC, StanChart raise main lending rates in Hong Kong

  

    Bloomberg HSBC Holdings Plc and Standard Chartered Plc are raising their main lending rates in Hong Kong for the third time this year, a move that signals higher borrowing costs for property owners amid a real estate and economic downturn. HSBC, the city’s biggest lender, is boosting its prime rate by 25 basis points to 5.625%. The move came ...

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• 15 December

  Elon Musk’s Tesla share sales approach the $40 billion mark

  

    Bloomberg Elon Musk sold another $3.58 billion worth of Tesla Inc. shares, bringing the total amount he’s offloaded since late last year to almost $40 billion. The latest disposal of about 22 million shares this week coincided with Musk falling from the top spot on the Bloomberg Billionaires Index, a position he’d occupied since September of last year. Tesla’s ...

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• 15 December

  US, European equities tumble as Fed shock halts global rally

  

    Bloomberg US equity-index futures and European stocks declined after the Federal Reserve rebuffed expectations for a dovish tilt and said interest rates will go higher for longer. Contracts on the S&P 500 and Nasdaq 100 gauges fell at least 1.1% each. Demand for haven assets sent the dollar and Swiss franc higher amid a wave of rate hikes from ...

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• 14 December

  New domestic worker law comes into force in UAE, says ministry

  

    Abu Dhabi / WAM The Federal Decree-Law No. (9) of 2022 regarding domestic workers will come into force as of December 15, said the Ministry of Human Resources and Emiratisation (MoHRE) on Wednesday. The decree-law establishes a comprehensive framework to strengthen and regulate labour relations for the recruitment and employment of the domestic workers in the UAE and defines ...

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• 14 December

  AD Ports signs two deals with Kyrgyzstan to promote trade

  

    Abu Dhabi / WAM AD Ports group signed two major agreements with the government of Kyrgyzstan to promote trade and strengthen economic ties with the Central Asian nation. Under the first agreement, the Ministry of Economy and Commerce has entered negotiations with AD Ports group to secure more than 300,000 square metres of land within the Khalifa Economic Zone ...

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• 14 December

  UAE President, VP wish King of Bahrain on accession to throne

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to His Majesty King Hamad bin Isa Al Khalifa of Bahrain, on the 23rd anniversary of his accession to the throne. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ...

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• 14 December

  UAE government revenues hit AED148.1b in Q3 2022

    Abu Dhabi / WAM In line with the open data policy followed by the UAE, the Ministry of Finance announced on Wednesday the results of the preliminary government finance statistics report for the third quarter (Q3) of 2022, based on the standards of the Government Finance Statistics Manual issued by the International Monetary Fund. The preliminary results showed an ...

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• 14 December

  Aldar, Mubadala acquire commercial tower in Abu Dhabi for AED450mn

  

    Abu Dhabi / WAM Aldar Properties (Aldar) and Mubadala Investment Company (Mubadala), an Abu Dhabi sovereign investor, have partnered to acquire Al Maryah Tower, a prime Grade A commercial office property located on Al Maryah Island, Abu Dhabi’s premium lifestyle destination and international financial centre. The transaction reflects Mubadala’s collaborative approach to driving the growth of Abu Dhabi’s real ...

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