November, 2022

• 25 November

  Libor jumps to highest in 14 years

    Bloomberg The three-month London interbank offered rate for dollars climbed to the highest level since the financial crisis in an otherwise quiet day for the front-end of fixed income markets. The benchmark rate for lending between banks rose for the third straight session, climbing roughly 5.9 basis points to 4.75729%, the highest since October 2008. The spread of Libor ...

  Read More »
• 25 November

  China signals likely reserve requirement cut to aid growth

  

    Bloomberg China signalled that more monetary policy stimulus — including a cut to the reserve requirement ratio — is on the table as it looks to boost lending and support the flagging economy. Tools will be used “in a timely and appropriate manner” to maintain reasonably ample liquidity, the State Council said, broadcaster CCTV reported. The People’s Bank of ...

  Read More »
• 25 November

  Stocks fluctuate as traders mull rates, China stimulus

  

    Bloomberg US equity futures and European stocks fluctuated as investors assessed prospects for less-aggressive central bank tightening and weighed China’s latest move to stimulate its economy as Covid-19 infections rise. S&P 500 contracts inched higher before an abbreviated Thanksgiving weekend cash trading session on Wall Street. Those on the Nasdaq 100 were steady. Energy companies climbed in premarket as ...

  Read More »
• 25 November

  Foreign investors pile into Taiwan stocks by most in 15 years

  

  Bloomberg Foreign investors are piling back into Taiwan’s market thanks to expectations of slower global rate hikes, helping make the benchmark gauge one of the region’s best performers this month. The stock rebound and influx of foreign capital come ahead of local elections, with polls serving as a show of confidence in the ruling Democratic Progressive Party ahead of a ...

  Read More »
• 25 November

  Oil falls as Russian price-cap talks drag on, demand lags

  

  Bloomberg Oil falls for a second day as the European Union (EU) considered a higher-than-expected price cap on Russian crude and evidence mounted of challenges to demand. West Texas Intermediate slipped below $78, trading in a narrow range and with volumes thin due to a US holiday. EU diplomats are locked in negotiations over how strict the Russian mechanism should ...

  Read More »
• 25 November

  UAE’s Rashid Rover set for launch on November 30

    Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) confirmed a new date for the launch attempt of the Emirates Lunar Mission. The inaugural launch of the Rashid Rover is now scheduled to take place on November 30 at 03:39 AM Eastern US Time or 12:39 PM UAE time. In collaboration with the partners – SpaceX and ispace, ...

  Read More »
• 25 November

  ADFD inks $29m deal with Argentina for water project

  

  Abu Dhabi / WAM Abu Dhabi Fund for Development (ADFD) signed a financing agreement with the Argentine government for an AED105.8 million ($28.8 million) project to build modern water plants and rehabilitate and expand existing water stations in 26 villages in Cordoba province. The agreement was signed by Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development; and ...

  Read More »
• 25 November

  EGA buys clean energy certificates for 1.1mn megawatt hours of electricity

  

    Abu Dhabi / WAM Emirates Global Aluminium (EGA) purchased Clean Energy Certificates for 1.1 million megawatt hours of electricity supplied by Emirates Water and Electricity Company (Ewec), supporting EGA’s production of CelestiAL solar aluminium. The certificates track the use of solar power from Noor Abu Dhabi, one of the world’s largest single-site solar power plants. Noor Abu Dhabi is ...

  Read More »
• 25 November

  Abu Dhabi, Kyrgyzstan keen to support female entrepreneurs

  

    Abu Dhabi / WAM The Abu Dhabi BusinessWomen Council (ADBWC) has received a delegation from the Women’s League of Central Asia (Kyrgyzstan Republic) to promote the development and diversification of economic and bilateral partnerships between women entrepreneurs in Kyrgyzstan and the UAE. The meeting was attended by Asma Al Fahim, Chairwoman of the ADBWC; Noor Al Tamimi, member of ...

  Read More »
• 25 November

  Dewa’s Hatta water reservoir 75.9% complete

    DUBAI / WAM Dubai Electricity and Water Authority (Dewa) announced that the water reservoir project it is building in Hatta is 75.9% complete. The project has a storage capacity of 30 million imperial gallons (MIG) at a cost of approximately AED86 million. It is expected to be complete in April 2023. Saeed Mohammed Al Tayer, MD and CEO of ...

  Read More »