November, 2022

• 22 November

  ECB will increase interest rates further: Holzmann

    Bloomberg The European Central Bank (ECB) will continue to increase borrowing costs, according to Governing Council member Robert Holzmann. “We’ve recently raised interest rates strongly,” he said in Vienna. “We will raise interest rates further.” Still, the Austrian central bank chief — among the ECB’s most hawkish officials — said the Governing Council must be mindful of too strong ...

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• 22 November

  Five-year UK mortgage rate declines below 6%

  

    Bloomberg The cost of a five-year fixed-rate mortgage has fallen below 6% for the first time in almost seven weeks, providing a glimmer of hope for Britons affected by the UK’s home loans crunch. The average five-year fixed-rate mortgage falls to 5.95% on Tuesday, according to Moneyfacts Group Plc. That’s the first time it has dropped below the threshold ...

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• 22 November

  HK dollar rises towards strong half of band

    Bloomberg The resurgent Hong Kong dollar has pushed closer to the strong half of its trading band, amid a spike in local funding costs that has upended crowded bets on shorting the currency. The Hong Kong dollar saw its biggest intraday rise in three years on Monday to as high as 7.8004 per dollar, bringing its gain for November ...

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• 22 November

  BNY Mellon’s Frankfurt offices raided

    Bloomberg Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started and included the ...

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• 22 November

  World’s worst-performing stocks have Vietnam investors on edge

  

    Bloomberg The world’s biggest stock-market slump is testing the resolve of Vietnam’s investing masses. A government crackdown on real estate companies, corruption probes and tightening credit have pushed the benchmark VN Index down 36% this year in the world’s worst performance, led by banks and property firms. While some foreign investors see a buying opportunity, the crisis is punishing ...

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• 22 November

  Stocks gain as oil majors rally; Fedspeak in focus

  

  Bloomberg European shares advanced, boosted by oil majors as crude prices recovered. US futures gained as investors parsed comments from Federal Reserve officials to assess the potential for slower interest rate hikes. The Stoxx Europe 600 Index climbed 0.7%, with Shell Plc and BP Plc among the biggest drivers of the gains. Contracts on the S&P 500 and the Nasdaq ...

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• 22 November

  UAE leaders wish Kazakh President on his re-election

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan sent a congratulatory message to Kassym-Jomart Tokayev, President of Kazakhstan, on his re-election as President. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has dispatched similar message to Tokayev

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• 22 November

  Adnoc Drilling buys 3 new jack-up rigs for AED1.17bn

  

    Abu Dhabi / WAM Adnoc Drilling Company on Monday announced that it has signed an agreement to acquire an additional three brand new high-specification offshore jack-up drilling units (the “rigs”). The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and its strategic growth plans. The acquisition underpins the company’s accelerated fleet expansion and ...

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• 22 November

  Sharjah’s Arada unveils its first project in Dubai

  

    DUBAI / WAM Arada has unveiled its first project in Dubai with the launch of “Jouri Hills” at Jumeirah Golf Estates, a villa collection in the heart of one of the emirate’s most-sought-after residential and leisure communities. The latest phase in 40 million square foot Jumeirah Golf Estates master plan, Jouri Hills contains 294 high-end homes located close to ...

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• 22 November

  DAE completes acquisition of Sky Fund I Irish

    DUBAI / WAM Dubai Aerospace Enterprise (DAE) Ltd announced that it had completed the previously announced acquisition of SKY Fund I Irish, Ltd and its subsidiaries (SKY Fund I) on November 18. Sky Fund I leases aircraft to 14 airline customers in 11 countries. Next-generation technology aircraft represent more than 90% of the acquired portfolio. Following the acquisition of ...

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