October, 2022

• 19 October

  Scotiabank sells new hybrid debt as Fed’s hikes weigh on LatAm

  

    Bloomberg Bank of Nova Scotia, the Canadian bank with the largest exposure to Latin America, sold $750 million of loss-absorbing hybrid securities amid mounting concerns about the spillover effects of US Federal Reserve rate hikes on emerging-market economies. Scotiabank priced 60-year so-called limited recourse capital notes at a yield of 8.625%, down from around 8.75% initially discussed. That’s an ...

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• 19 October

  Irish central bank eases mortgage lending rules

  

    Bloomberg Ireland will make it easier for would-be borrowers to qualify for mortgages next year as it relaxes its income-to-loan requirements in an effort to widen accessibility in the face of a shortage of supply and record prices. Prospective first-time homeowners will be able to borrow as much as four times their gross income, up from a limit of ...

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• 19 October

  Deutsche Bank set for $292m capital gain

    Bloomberg Deutsche Bank AG is set to post a capital gain of more than €300 million ($292 million) in the fourth quarter after completing the sale of its Italian financial promoters network to Zurich Insurance group AG. The German lender will book the gain as additional revenue in the final quarter of the year. Deutsche Bank said Monday that ...

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• 19 October

  Mastercard to bring crypto trading capabilities to banks

  

    Bloomberg Mastercard Inc. debuted a service that will let consumers buy and sell digital assets through their bank accounts, potentially paving the way for thousands of finance firms to offer crypto trading for the first time. The product, called Crypto Source, will start in the US, Israel and Brazil early next year through a pilot program, Ajay Bhalla, Mastercard’s ...

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• 19 October

  Stocks slip amid inflation worries; pound weakens

  

    Bloomberg Stocks retreated as investors weighed concerns about scorching inflation and a looming recession against a strong start to the earnings season. The pound fell after UK inflation rose faster than economists expected. Contracts on the S&P 500 and the Nasdaq 100 fell by about 0.7%. Netflix Inc. rallied in early New York trading after reporting a surge in ...

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• 19 October

  Nomura joins Morgan Stanley in calling bottom for battered Asia stocks

  

    Bloomberg Nomura Holdings Inc strategists have joined their peers at Morgan Stanley in calling a bottom for battered Asian equities, including chipmakers. The Japanese broker said the asset class may bottom “in the next few weeks” after reviewing indicators on the last 12 US recessions and five chip cycles. Morgan Stanley strategists including Jonathan Garner made a similar call ...

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• 19 October

  UAE to send $100 million in humanitarian aid to Ukraine

    Abu Dhabi / WAM President HH Sheikh Mohamed bin Zayed Al Nahyan has ordered the provision of additional humanitarian relief aid worth $100 million to Ukrainian civilians affected by the Ukraine crisis. Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, underscored that the additional aid stems from the belief of His Highness Sheikh Mohamed in the ...

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• 19 October

  Mubadala Capital acquires snack food maker TruFood

  

    PITTSBURGH / WAM Mubadala Capital, the global asset management firm and a wholly owned subsidiary of Mubadala Investment Company, on Tuesday announced that it has acquired AOG, LLC d/b/a TruFood Manufacturing (TruFood), in partnership with management. TruFood, a leading snack food contract manufacturer in several categories, is being acquired from funds affiliated with AUA Private Equity Partners, LLC. Financial ...

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• 19 October

  Emerge to develop solar plant for Khazna data centres in Masdar City

  

  Abu Dhabi / WAM Emerge, a joint venture between Masdar and EDF, and Khazna Data Centres, the largest network of hyperscale data centres in the Middle East and North Africa region, signed an agreement to develop a ground-mounted solar photovoltaic (PV) plant to power Khazna’s new data centre in Masdar City. The plant, which has obtained Abu Dhabi’s Department of ...

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• 19 October

  EDB approves AED4.4b in loans in nine months of ’22

  

    Abu Dhabi / WAM Emirates Development Bank (EDB) held its board meeting to review its results for the period ending September 30. The board discussed the progress being made in executing the bank’s strategy, which aims to support and empower the implementation of the UAE’s industrial development strategy, facilitate the adoption of advanced technology, empower the growth of SMEs, ...

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