October, 2022

• 22 October

  PBOC names new deputy governor

  Bloomberg The People’s Bank of China (PBOC) appointed a new deputy governor, ahead of a possible reshuffle of economic leadership during the Communist Party’s twice-a-decade congress. Xuan Changneng, 55, whose most recent role was deputy head of the State Administration of Foreign Exchange, was appointed as the PBOC’s sixth deputy governor, according to a statement on the central bank’s website. ...

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• 22 October

  French judges tell BNP Paribas to fix women’s unequal pay

  

    Bloomberg BNP Paribas SA was told by French judges it shouldn’t have excluded bonuses from its calculations to close the gender pay gap, in a ruling that’s likely to have ramifications for the local banking industry. A Paris court criticised BNP for only using women’s base salary as a comparison with the median for men in the same jobs, ...

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• 22 October

  Bad news roils social media stocks as $47bn evaporates

  

    Bloomberg First came Snap Inc.’s disappointing results. Then news that US officials were discussing whether they should subject some of Elon Musk’s ventures to national security reviews, including the deal for Twitter Inc. Anxious investors are selling out of social media stocks, putting them on track to lose more than $47 billion in market value as they tumble in ...

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• 22 October

  M&A prospects in UK  jump as stocks look cheap after pound falls

  

    Bloomberg A flurry of mergers and acquisitions in UK companies may be near as a plunge in the pound has made them more attractive to foreign buyers, according to investors participating in different spheres of the market. Private equity giant Blackstone Inc, $5 billion hedge fund Toscafund Asset Management LLP and strategists at Jefferies are united in calling a ...

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• 21 October

  Ministry to private firms: Meet Emiratisation rate by 2022-end

    Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) on Thursday called on companies with more than 50 employees to expedite achieving Emiratisation rate of two percent for skilled jobs, in line with the concerned UAE Cabinet Resolution, before the end of 2022. Non-compliant companies will face financial penalities, which will be collected starting from January 2023. ...

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• 21 October

  Seha-ADU deal to promote medical education in UAE

  

    Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha), the UAE’s largest healthcare network, has signed a memorandum of understanding (MoU) with Abu Dhabi University (ADU) to bolster medical education and mutual knowledge transfer between the two entities. The partnership will aim to promote ties between both parties through student placements, training programmes, sharing of facilities and resources, ...

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• 21 October

  Dewa invests $463m in new power transmission projects in H1 2021

  

    Dubai / WAM Dubai Electricity and Water Authority (Dewa) recorded substantial growth in the number of new transmission substations and investments allocated to transmission substations by 22% during the first half of 2022, compared to same period last year. From the beginning of this year until June, Dewa commissioned a new 400 kV transmission substation, and 10 new 132 ...

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• 21 October

  UAB launches ‘Tomouh’ to empower Emirati graduates

  

    Sharjah / WAM United Arab Bank (UAB) has announced the launch of “Tomouh” programme aimed at supporting and upgrading the national talents and empower Emirati graduates. In line with its commitment to attract and empower Emirati talent and provide them necessary skills and experiences, UAB said the programme will offer more opportunities to skilled and talented Emirati graduates in ...

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• 21 October

  ADCB ranked top GCC bank in Forbes survey

    Abu Dhabi / WAM Abu Dhabi Commercial Bank PJSC (ADCB) is the highest ranked GCC bank and one of the region’s top five companies in the Forbes “World’s Best Employers 2022” list of 800 global firms published this month following a survey covering 57 countries. The Forbes survey of 150,000 employees world-wide, conducted in partnership with research firm Statista, ...

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• 21 October

  Adnoc Drilling sets new world record for longest oil, gas well

  

    Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday that a new world record for the longest oil and gas well has been set at its Upper Zakum Concession. Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017 and supports Adnoc’s efforts to expand production capacity ...

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