October, 2022

• 18 October

  Japan, Australia to sign security agreement amid China concerns

    Bloomberg Japan and Australia are expected to sign a new security agreement during a visit by Prime Minister Fumio Kishida to Perth on Saturday, strengthening ties between the long-time partners amid rising tensions in the Asia-Pacific region. The new plan would update a previous agreement signed in 2007 under Kishida’s predecessor Shinzo Abe and then-Australian Prime Minister John Howard, ...

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• 18 October

  BNP Paribas joins China wealth market race with new approval

  

    Bloomberg BNP Paribas SA has won approval to set up a wealth-management joint venture in China, adding competition to global rivals including BlackRock Inc. and Amundi SA vying for a slice of the $4 trillion market. China’s banking regulator has granted permission for the French lender’s asset-management arm to form the venture with the wealth unit of Agricultural Bank ...

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• 18 October

  BofA’s quarterly interest income hits decade high

  

  Bloomberg Bank of America Corp (BofA) reported its highest quarterly net interest income (NII) in at least a decade as the lender reaps the benefits of the Federal Reserve’s interest-rate hikes, and debt traders beat analysts’ estimates. NII, a key source of revenue for the bank, rises 24% to $13.8 billion in the third quarter on higher rates and loan ...

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• 18 October

  Global investors cut allocations to UK equities in September: BofA

  

    Bloomberg Global investors slashed allocations to UK equities in the month after Liz Truss became prime minister, a Bank of America Corp. (BofA) survey showed. Exposure to British stocks “collapsed,” with allocations dropping by nine percentage points compared with the previous month, according to BofA’s global fund manager survey in October. A net 33% of investors are now underweight UK ...

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• 18 October

  Yen traders are on intervention alert as Japan keeps guard

  

  Bloomberg The yen took a further step towards the closely watched 150 per dollar level, keeping investors on high alert for possible intervention to support the currency. In volatile trade, Japan’s currency falls to as low as 149.29 yen in morning trading in London, its lowest since 1990, before bouncing back quickly. The move came after the country’s prime minister ...

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• 18 October

  UAE, WHO sign $25 million pact for Al Makassed Hospital in Jerusalem

  

  ABU DHABI / WAM Under the directives of President HH Sheikh Mohamed bin Zayed Al Nahyan, the UAE signed a $25 million cooperation agreement in support of Al Makassed Hospital in East Jerusalem. This came as part of the UAE’s efforts to support the medical and healthcare sectors in Palestine in collaboration with the World Health Organisation (WHO) and in ...

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• 18 October

  ADQ makes merger offer to create AED9.4b aviation giant

  

    Abu Dhabi / WAM ADQ, an Abu Dhabi-based investment and holding company, has submitted an offer to Abu Dhabi Aviation PJSC (ADA) to combine its full 100 percent shareholding of Etihad Engineering and Ammroc, as well as its 50 percent ownership of GAL, into ADA, with the goal of establishing a diversified aviation services and MRO business, with strategic ...

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• 18 October

  WGS inks cooperation framework with IFC

  

    WASHINGTON, DC / WAM The World Government Summit Organisation and the International Finance Corporation (IFC), a member of the World Bank group, signed a cooperation framework to deepen their partnership around key development issues in the Arab region including supporting women entrepreneurs, on the sidelines of the International Monetary Fund & World Bank Group Annual Meetings in Washington, DC. ...

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• 18 October

  Abu Dhabi’s Al Seer Marine targets AED36.7b in deals in next 10 years

  

    Abu Dhabi / WAM Al Seer Marine, a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), has entered a strategic joint venture with the leading maritime solutions Dutch company, Damen Shipyards and DTec Industries, a global pioneer in the industrial partnerships and financial services based in Singapore, respectively. The joint venture between the ...

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• 18 October

  UAE, Chile keen to boost relations in energy sector

  

  Dubai / WAM The Ministry of Energy and Infrastructure (MoEI) signed a memorandum of understanding (MoU) with its counterpart in Chile to exchange knowledge and expertise in energy and advance this vital sector locally and globally. Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at MoEI, and Ximena Fuentes, Under-Secretary of Foreign Affairs of Chile, signed the MoU at ...

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