November, 2022

• 3 November

  Currency redesign deadline sparks rush to buy dollars in Nigeria

  

  The naira slumped to a record low against the dollar on the widely used illegal market as Nigerians rushed to buy greenbacks a week after the central bank said it would redesign higher-value notes. Currency traders in the unauthorised parallel market offered as much as 830 naira per dollar in Lagos, said Umar Salisu, a bureau de change operator who ...

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• 3 November

  European gas prices gain with focus on weather, tight supply

  

  European natural gas advanced again with traders focusing on weather forecasts, while outages at key facilities highlight the risk of potential winter shortages. Benchmark futures jumped as much as 10%, extending their rebound from losses earlier in the week, with temperatures dropping closer to seasonal levels after an unusually mild October. Some forecasts also point to colder-than-normal conditions in northwest ...

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• 3 November

  Profit at Adani’s flagship up 117% on rapid expansion

  

  Adani Enterprises Ltd., the flagship firm for billionaire Gautam Adani’s conglomerate, posted an almost 117% rise in quarterly profit, giving it more firepower to boost investments in numerous new businesses it’s nurturing. The Ahmedabad-based company reported a net income of 4.6 billion rupees ($55.5 million) for the quarter ended Septmeber 30, it said in a filing on Thursday, compared to ...

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• 3 November

  Whatever you do, don’t mention rate pivot

  

  Daniel Moss It seems 2023 is arriving early. The race to raise interest rates to levels that have a hope of quelling inflation is entering a less punishing phase. It may be only a slight stretch to say the end of the most rapid monetary tightening in at least a generation is coming into view. Here’s hoping the troubled world ...

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• 3 November

  Democrats hate him, but Musk can be their savior

  

  Joshua Green Elon Musk took control of Twitter on Friday, adding to the growing misery of Democrats heading into the midterm elections, not least because he’s made clear he’ll probably allow Donald Trump back onto the platform. A person familiar with the situation told Bloomberg News that Musk “intends to do away with permanent bans on users because he doesn’t ...

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• 3 November

  UAE made major improvements in occupational radiation protection

  

  Abu Dhabi / WAM   The United Arab Emirates has made significant improvements in developing and strengthening its occupational radiation protection infrastructure since the 2015’s Occupational Radiation Protection Appraisal Service (Orpas) visit to the UAE, according to the experts of the International Atomic Energy Agency (IAEA) who concluded a week-long follow-up review of the UAE’s radiation protection arrangements. At the UAE ...

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• 3 November

  Mubadala Health plans to launch long-term care facility in Bahrain

  

  Abu Dhabi / WAM   Mubadala Health, the integrated health network of Mubadala Investment Company, and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, are exploring a potential joint venture to set up a long-term care and post-acute rehabilitation facility in Bahrain that will be operated by Amana Healthcare, a Mubadala Health Partner. The proposed ...

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• 3 November

  Alpha Dhabi buys 25% of Gordon Technologies

  

  Abu Dhabi / WAM    Alpha Dhabi Holding PJSC (Alpha Dhabi) announced that it has acquired a 25 percent stake in Gordon Technologies, a leading provider of MWD (Measurement While Drilling) technology to the oil and gas industry for AED 602 million. Chimera Capital acted as sole financial advisor to Alpha Dhabi Holding on the transaction. Founded in 2014, Gordon Technologies ...

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• 3 November

  Adnoc unit awards $1.6b deal for integrated drilling fluid services

  

  Abu Dhabi / WAM  Adnoc Drilling company on Wednesday awarded a five-year framework agreement valued at up to $1.6 billion for Integrated Drilling Fluids Services (IDFS) to support the expansion of Adnoc’s lower-cost and lower-carbon intensive production capacity, as it continues to respond to growing global demand for energy. The award covers Adnoc’s onshore and offshore fields and will see ...

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• 3 November

  Sheikh Mohamed, Biden discuss joint initiative to accelerate energy transition

  

  Abu Dhabi / WAM  President His Highness Sheikh Mohamed bin Zayed Al Nahyan, met virtually on Wednesday with United States President Joseph R. Biden Jr.  The two leaders reaffirmed the depth of the US-UAE strategic relationship and addressed global challenges including energy security. In the meeting, the two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy ...

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