November, 2022

• 29 November

  Asia currencies set for best month in 6 years

    Bloomberg Asian currencies are set for their steepest monthly advance in more than six years, with the approaching end of the Federal Reserve’s tightening cycle supporting gains. The Bloomberg JPMorgan Asia Dollar Index has rallied 2.7% in November. South Korea’s won is the best performer after logging a 7% rise, followed by the Thai baht which climbed 6.8%. “While ...

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• 29 November

  Reopening bets propel China markets to best month in years

  

    Bloomberg November looks set to mark a watershed moment for Chinese assets, as visible policy shifts away from Covid Zero triggered massive gains. After being pressured under the weight of virus restrictions and a property crisis, markets surged amid hopes of an eventual reopening. Chinese stocks in Hong Kong are headed for their best month since 2003, while the ...

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• 29 November

  Taiwan dollar’s best rally in decades may stumble

  

    Bloomberg Taiwan dollar’s biggest rally in almost a quarter of a century is set to unwind as a looming global recession cuts into island’s technology exports. The currency, which has risen more than 4% this month to 30.90 per US dollar, will probably weaken to about 33 by the end of the first quarter, Mizuho Bank Ltd. and RBC ...

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• 29 November

  Oil drops to lowest since 2021 as China unrest rattles market

  

    Bloomberg Oil tumbled to its lowest price in almost a year as a wave of unrest in China punished risk assets and clouded the outlook for energy demand, compounding the stresses in an already volatile crude market. West Texas Intermediate sinks towards $74 a barrel following three weeks of losses, while Brent traded at around $81. Protests over harsh ...

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• 29 November

  Fanr OKs operational plan for Barakah nuclear plant

    Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (Fanr) has approved Fanr’s Operational Plan for the period 2023 until 2026, where it covers its future blueprint in regulating the nuclear and radiological sectors in the UAE. Fanr plans to implement a number of strategic projects and initiatives that focus on carrying ...

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• 29 November

  Adib’s digital solutions support UAE IPOs’ push

  

  Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib), a leading Islamic financial institution announced that its retail customers were able to conveniently participate in the subscription to initial public offerings (IPOs) that were issued this year through its mobile app. 80% of clients subscribed IPOs that were issued in 2022 through Adib Mobile app in just a few clicks. ...

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• 29 November

  Sharjah to boost business ties with Alexandria

    Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has received a delegation from the Alexandria Chamber of Commerce, who were invited by Abdallah Sultan Al-Owais, Chairman of the SCCI, during his participation in the centennial celebration ceremony of the Egyptian Chamber of Commerce in Alexandria in October. The delegation’s visit, which lasted four days, aimed at ...

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• 29 November

  UAE President chairs Adnoc board of directors meeting

  

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan, on Monday presided over the annual meeting of the Abu Dhabi National Oil Company (Adnoc) Board of Directors, in his capacity as its Chairman. During the meeting, which was held at Adnoc Headquarters, the board directed Adnoc to pursue a “Net Zero by 2050” ambition to support ...

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• 29 November

  Hub71 grows startup community to over 200 tech firms with latest cohort

  

    Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, has grown its community to more than 200 startups following the selection of 20 companies to join its latest cohort. Of the 20 startups in the cohort, nine are UAE-based companies while the remaining 11 have relocated to Abu Dhabi, reinforcing the UAE capital’s ability to attract high-quality companies ...

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• 29 November

  EAD, FAO join efforts to revive pearl industry in Abu Dhabi

  

    Abu Dhabi / WAM The Environment Agency – Abu Dhabi (EAD) has partnered with the Food and Agriculture Organisation (FAO) of the United Nations in a joint effort to revive the heritage and traditions of the emirate’s pearl industry. The “Abu Dhabi Pearls” project involves sustainably farming high-quality pearls in the warm waters of the Arabian Gulf. The project ...

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