October, 2022

• 14 October

  Apple partners with Goldman Sachs to offer savings accounts

  

    Bloomberg Apple Inc. and Goldman Sachs Group Inc. will team up to offer savings accounts to users of the tech company’s credit card. “Apple Card users will be able to open the new high-yield savings account and have their daily cash automatically deposited into it — with no fees, no minimum deposits and no minimum balance requirements,” Apple said. ...

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• 14 October

  UK bank to pay bondholders higher interest to swap debt

  

    Bloomberg A UK lender is offering to pay bondholders higher interest to swap debt rather than risk tapping sterling’s chaotic market for fresh cash. With no sign of volatility easing yet, Shawbrook Group wants to keep investors happy by moving them to new notes that offer an 8.099 percentage-point premium over UK gilts, an extra 100 basis points versus ...

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• 14 October

  Pakistan’s forex reserves drop to lowest in 3 years

    Bloomberg Pakistan’s foreign exchange reserves dropped to the lowest level in three years as assistance from multilateral lenders and friendly countries is yet to flow. The stockpile fell by $303 million to $7.59 billion, according to central bank data. The reading is the lowest since July 2019 and covers less than six weeks of imports. “This decrease was entirely ...

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• 14 October

  Yuan fix pattern spurs talk of 2019-style currency strategy

  

  Bloomberg China’s yuan fixings have steadied over the past week, spurring speculation that the central bank wants to cap currency losses using a method last seen in the US-China trade war in 2019. The People’s Bank of China (PBOC) set the yuan reference rate near 7.1 per dollar for a seventh session, a move that would support the currency around ...

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• 14 October

  UK bonds head for biggest weekly rally in a decade on U-turn bets

  

    Bloomberg UK bonds surged to head for their biggest weekly rally in a decade on mounting expectations the government is preparing an imminent retreat from plans for vast unfunded tax cuts. The rally came at the end of another tumultuous week for markets, with both bonds and the pound yo-yoing on changing sentiment. UK Prime Minister Liz Truss is ...

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• 14 October

  Private bets shielding world’s largest investors from market mayhem

  

  Bloomberg A shift towards private markets is cushioning many of the world’s largest investors from the wreckage wrought by runaway inflation and spiralling interest rates. The big question now looming over giants from China’s $1.2 trillion sovereign wealth fund to California’s public pension, the largest in the US, is how long those private bets will remain insulated as the economic ...

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• 14 October

  Now, drone logistics services set to fly high in Abu Dhabi

  

    Abu Dhabi / WAM Maqta Gateway, the digital arm of AD Ports group, Emirates Post Group, the official postal operator for the UAE, and SkyGo, an aerial logistics provider, are set to trial a new initiative that would provide a comprehensive aerial drone delivery and other services in Abu Dhabi. The three organisations will collaborate on a trial programme ...

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• 14 October

  Abu Dhabi to host 21st World Congress of IST on October 16

    Abu Dhabi / WAM Under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, the 21st World Congress of the International Society on Toxinology (IST), will be organised by Amsaal, the first of its kind company in the Middle East, during October 16-21 in Abu Dhabi. The event is ...

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• 14 October

  du to build 5G centre of excellence in Masdar City

  

    Abu Dhabi / WAM du, from Emirates Integrated Telecommunications Company (EITC), is partnering with Masdar City, a global leader in sustainable innovation and development, to build a 5G Centre of Excellence (CoE) in Masdar City, Abu Dhabi. The memorandum of understanding (MoU) was signed at Gitex Global 2022, where du is presenting an innovative showcase under the theme “Powering ...

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• 14 October

  UAE can become inspiration for future of int’l sports investing

  

  Dubai / WAM Bernard Caiazzo, President of the World Corporate Summit, said the UAE has the appropriate vision and components that will make it a source of innovation and inspiration for the future of international sports investing. The World Corporate Summit signed a memorandum of understanding (MoU) with Investopia, a new investment platform established by the UAE government in September ...

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