November, 2022

• 14 November

  NAB CEO sees ‘more pain’ for households

    Bloomberg One of Australia’s largest banks is expecting further interest rate increases next year as consumers face price rises on “everything they touch.” National Australia Bank (NAB) Chief Executive Officer Ross McEwan said while there’s currently no impact on loan arrears from surging inflation and higher borrowing costs in the country, 2023 will likely see that change. “There’s going ...

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• 14 November

  Commerzbank’s new targets disappoint investors

  

  Bloomberg Commerzbank AG’s decision to raise two financial targets fell flat with investors, after results in the third quarter were hit by charges at its Polish unit and the lender flagged cost headwinds. Revenue at the Frankfurt-based bank declined 5.9% in the three months through September, slightly worse than analysts had estimated, reflecting a hit of almost €750 million at ...

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• 14 November

  US futures wilt against Federal Reserve caution, rising yields

  

    Bloomberg US stock futures declined on Monday and Treasury yields rose as a cautious tone from a Fed speaker tempered some of the ebullience that inflation may have peaked. Contracts on the tech-heavy Nasdaq 100, typically more sensitive to interest rates, slipped 0.7% while those on the S&P 500 dropped 0.4%. Losses in New York premarket trading were concentrated ...

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• 14 November

  World-beating India stocks cement haven status with new record

  

  Bloomberg Having emerged as a safe haven amid this year’s global equity rout, Indian stocks look poised to extend their lead over world peers and finish 2022 on a high. A return of foreign investors is bolstering the market, where the benchmark S&P BSE Sensex Index rise to an all-time high as risk assets rejoiced over a softer US inflation ...

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• 14 November

  Food import costs globally to reach $2 trillion this year: FAO

  

  Rome / WAM Food import costs globally are projected to reach nearly $2 trillion this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) said in a report. The new forecast of $1.94 trillion would represent an all-time high and a 10 percent increase over the record level of 2021. However, the pace of increase is ...

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• 14 November

  UAE President to attend G20 Summit in Bali, Indonesia

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan will attend the G20 Summit, which will take place in Bali, Indonesia from November 15-16. Chaired by Indonesian President Joko Widodo, the 17th G20 Heads of State and Government Summit will welcome heads of state and government officials from the world’s leading economies to address major ...

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• 14 November

  Abu Dhabi realty deals hit AED21.04bn in Q3

  

    Abu Dhabi / WAM Abu Dhabi’s real estate market witnessed continued growth in the third quarter of 2022, recording 4,441 property transactions amounting to over AED21.04 billion, according to the latest report published by the Department of Municipalities and Transport (DMT). The DMT’s quarterly showed that the emirate recorded 1,995 real estate sales worth AED5.39 billion, and 2,446 mortgage ...

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• 14 November

  Sanad, GMF ink landmark deal to set up MRO centre in Indonesia

  

  Bali / Gulf Time Sanad, a global industrial services leader with over 30 years’ expertise in aerospace and wholly owned by Abu Dhabi’s Mubadala Investment Company PJSC (Mubadala), has signed a landmark memorandum of understanding with Indonesia’s GMF, the country’s largest aircraft maintenance company, at the UAE Business Forum which took place on the sideline of this week’s B20 Summit ...

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• 14 November

  G20 health ministers agree to establish pandemic fund

  

    BALI / WAM The G20 health ministers have agreed to establish a pandemic fund. The fund will be commonly used to fix the health system and close the budget gap for the following five years, based on how the Covid-19 pandemic has been handled in the previous two years. At the G20updates press conference, Secretary General of the Indonesian ...

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• 14 November

  FTA to launch EmaraTax on December 5

    Abu Dhabi / WAM Further to the announcements by Federal Tax Authority (FTA) during past weeks, the FTA confirmed its intention to launch the EmaraTax platform on December 5. The migration to EmaraTax will commence from the end of day on November 30 and EmaraTax will be available for use from December 5. To minimise disruption to taxpayers the ...

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