November, 2022

• 16 November

  Russia poised to agree on extending Black Sea grain deal

  

  Bloomberg Russia is expected to agree to extend a United Nations-brokered deal allowing exports of Ukrainian grain and other farm products from the Black Sea, ensuring a vital flow of foodstuffs to the world market. Russia is likely to allow the deal to renew after its Nov. 19 expiration, according to four people familiar with the situation, all of whom ...

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• 16 November

  Xi seeks high-tech cooperation in summit with South Korea’s Yoon

    Bloomberg Chinese President Xi Jinping called for accelerating negotiations on a trade deal and boosting cooperation in high-tech manufacturing in a meeting with South Korean President Yoon Suk Yeol, the first summit between leaders of the two countries in about three years. Xi told Yoon that China and South Korea should work together to maintain the global free-trade system ...

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• 16 November

  China maintains ample cash in system to help snap bond slump

  

    Bloomberg China sought to maintain ample cash levels in its financial system with liquidity tools of different maturities, helping halt the worst government bond selloff in six years. The liquidity infusion this month, which was done with a combination of short, medium and long-term tools, exceeded the 1 trillion yuan maturity, according to the People’s Bank of China (PBOC). ...

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• 16 November

  India’s Paytm faces another reckoning after $10bn selloff

  

    Bloomberg Paytm, India’s leading digital payments brand, faces another reckoning, a year after it recorded the grisliest initial public offering in India’s history. This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba ...

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• 16 November

  Crypto regulation needs to be global, says BaFin head

    Bloomberg Crypto assets need to be subject to global rules if they’re adopted by mainstream finance and expose banks and a wider swathe of investors to risk, Germany’s top regulator said. The recent crash in digital assets was well-timed given the ties between traditional finance and crypto are still limited, meaning it doesnt pose a risk to financial stability, ...

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• 16 November

  Chinese stocks in US rise again on triple whammy of positives

  

    Bloomberg Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, rose 7.4% in premarket trading, extending its 17% gain in the ...

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• 16 November

  UK stocks most disliked among investors: Survey

  

    Bloomberg Global equity investors remain most bearish on the UK’s stocks among major markets, Bank of America Corp (BofA) said, even after a partial recovery in British assets following September’s ‘mini budget’ turmoil. A net 25% of fund managers are underweight UK stocks, according to BofA’s latest survey. While that’s an improvement from last month — which saw a ...

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• 16 November

  Warren Buffett’s Berkshire buys $4bn stake in Jefferies

    Bloomberg Warren Buffett’s Berkshire Hathaway Inc. took a position in Jefferies Financial Group Inc. even as it trimmed its stake in financial stocks including US Bancorp and Bank of New York Mellon Corp. The conglomerate held more than 433,000 shares of Jefferies, the New York-based investment bank, as of September 30, according to a quarterly filing Berkshire was a ...

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• 15 November

  Taqa’s nine-month net income surges 53% to AED6.5 billion

  

  Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) reported consolidated financial results for the period ended September 30, announcing a net income (Taqa-share) of AED6.5 billion, 53% higher than the prior-year period. The company also reported group revenues of AED38.7 billion, 14% higher than the prior-year period and Adjusted Ebitda of AED16.5 billion, up 15%, benefiting from strong ...

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• 15 November

  UAE leaders offer condolences to Turkiye over terror attack

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a message of condolences to President Recep Tayyip ErdoÄŸan of Türkiye, over the explosion in Istanbul’s Istiklal Street which resulted in a number of deaths and injuries. In his message, President His Highness Sheikh Mohamed wished a quick recovery for all the injured. His Highness ...

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