October, 2022

• 20 October

  Italy’s coalition dealt blow after Berlusconi lauds Putin

  

  Bloomberg Giorgia Meloni, the right-wing leader poised to form a new Italian government, said she’d give up on the fledgling coalition if her allies can’t commit to supporting Ukraine along with Italy’s European Union and Nato partners. “I intend to lead a government with a clear and unambiguous foreign policy line. Italy is fully, and proudly, part of Europe and ...

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• 20 October

  Lula sees very tight Brazil election as rival surges

    Bloomberg Leftist former president Luiz Inacio Lula da Silva considers that Brazil’s election is “very tight” and will be decided by those who didn’t show up to vote in the first round earlier this month. “A lot of Brazilians have already made up their minds and the number of people we need to convince is growing smaller,” he told ...

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• 20 October

  Banks saddled with $30bn in unwanted debt in risk exodus

  

    Bloomberg The world’s biggest banks have already had to use about $30 billion of their own cash this year to fund loans for acquisitions and buyouts that they weren’t able to offload to investors. The lenders have been forced to fund at least 15 deals in the US and Europe as inflation and risk of a recession evaporates investor ...

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• 20 October

  Visa promises more data on pay equity

  

    Bloomberg Visa Inc’s promise to disclose additional information about what it pays employees has led a prominent activist investor to ditch a planned proxy fight. Arjuna Capital withdrew a shareholder proposal that asked Visa to disclose quantitative data about what it pays employees and how jobs and compensation are distributed by race and gender. Arjuna said it was told ...

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• 20 October

  Goldman shakes up leadership ranks in another overhaul

    Bloomberg Goldman Sachs group Inc’s David Solomon is embarking on his third major reorganisation in just four years as chief executive officer, undoing some of the signature moves he made as recently as 2020. The Wall Street giant plans to once again combine its expanded asset management and private wealth businesses into one unit run by Marc Nachmann. Goldman ...

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• 20 October

  HK stocks poised for 13-year low as growth concerns weigh

  

    Bloomberg Hong Kong stocks dropped, putting the benchmark on course for its lowest close since 2009, as Chief Executive John Lee’s maiden policy speech underwhelmed amid ongoing concerns about China’s Covid Zero policy. The Hang Seng Index slid as much as 2.6%, driven by losses in tech shares including Alibaba group Holding Ltd. and Meituan. The measure, down 31% ...

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• 20 October

  GoTo in talks with Alibaba, SoftBank for $1b stake sale

  

  Bloomberg Indonesia’s largest tech company GoTo group is in talks with its major owners for a controlled sale of roughly $1 billion of their stakes, aiming to avoid a potential stock crash when a lock-up on their holdings ends next month. The ride-hailing and e-commerce provider is gauging the interest of early backers including Alibaba group Holding Ltd. and SoftBank ...

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• 20 October

  Jebel Ali port, Jafza key to boosting India-UAE trade to $100b in 5 years

  

    Dubai / WAM DP World hosted “The India-UAE Bridge; Dubai – India’s Gateway to the World” along with the Confederation of Indian Industry (CII) for key business leaders in Mumbai to showcase the role of Jebel Ali Port and Free Zone in boosting non-oil trade between the UAE and India to $100 billion over the next five years, complementing ...

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• 20 October

  Aramex acquires MyUS platform in $265m deal

  

    Dubai / WAM Aramex, a leading global provider of logistics and transportation solutions that is listed on the Dubai Financial Market (DFM), has completed the acquisition of Access USA Shipping (MyUS), a global technology-driven platform, for an all-cash purchase price of about $265 million. The transaction, after having obtained all the necessary regulatory approvals, marks Aramex’s largest acquisition to ...

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• 20 October

  Dubai reports AED2.2bn realty deals in one day

    Dubai / WAM Dubai real estate market recorded 479 sales transactions worth AED1.65 billion, in addition to 82 mortgage deals of AED406.61 million, and 37 gifts deals amounting to AED137.63 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 437 villas and apartments worth AED1.44 billion, and 42 land plots worth AED210.44 million, while ...

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