October, 2022

• 4 October

  SNB’s balance sheet to stay big for a long time

  

    Bloomberg The Swiss National Bank (SNB) isn’t in a rush to reduce its balance sheet, which is likely to stay high for a long time, the central bank’s president told Neue Zürcher Zeitung. “We will not reduce our balance sheet simply because of its sheer size,” Thomas Jordan told the newspaper, stressing that the SNB will use its portfolio ...

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• 4 October

  China’s $5 trillion rout creates historic gap with Indian stocks

  

    Bloomberg The relentless plunge in China’s stocks has burnished the appeal of their biggest emerging-market rival India, spurring a divergence that’s rarely been seen before. The MSCI India Index rallied almost 10% in the just-ended quarter, compared with a 23% slump for the MSCI China Index. The 33-percentage point outperformance by the India gauge is the biggest since March ...

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• 4 October

  Stocks drop, US futures wobble on economic jitters

  

    Bloomberg Global stocks fall to a two-year low, while US index futures struggled for direction, amid concern hawkish policies by global central banks will spark a recession and earnings contraction. December contracts on the S&P 500 Index were little changed, while similar futures on the Nasdaq 100 slid 0.3%. Carmaker Tesla tumbled 4% in premarket New York trading after ...

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• 3 October

  Opec+ to consider output cut of over 1 million barrels per day

  

    Bloomberg The Opec+ group of oil producers will consider cutting output by more than 1 million barrels a day when it meets in Vienna on Wednesday, according to delegates. A larger-than-expected reduction would reflect the scale of concern that the global economy is slowing fast in the face of rapidly tightening monetary policy. A stronger dollar has also weighed ...

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• 3 October

  Dubai Customs, Italy to boost trade cooperation

  

    Dubai / WAM Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation (PCFC), discussed with an Italian diplomatic and economic delegation headed by Giuseppe Finocchiaro, Consul-General of Italy in Dubai, opportunities for furthering economic cooperation and means to enhance trade between Dubai and Italy. The meeting, which was held at the Dubai ...

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• 3 October

  Clean hydrogen can help China cut emission in heavy industry: Report

  

    Beijing / WAM A team of Chinese and American scientists recently published an assessment of China’s future use of clean hydrogen in its heavy industry and heavy-duty transport, noting that clean hydrogen can significantly reduce carbon emissions, Chinese news agency, Xinhua, reported. According to the study in the journal Nature Energy, clean hydrogen can be both a major energy ...

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• 3 October

  Al Quoz Creative Zone to woo 33,000 visitors a day

  

    Dubai / WAM The Higher Committee of the Al Quoz Creative Zone on Sunday approved the master plan for the Al Quoz Creative Zone during a meeting chaired by HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council. The master plan provides a comprehensive ...

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• 3 October

  Dubai’s RTA awards contracts for internal roads

    Dubai / WAM Dubai’s Roads and Transport Authority (RTA) has awarded a contract for constructing internal roads and lighting works at four residential communities of Dubai, namely Margham, Lahbab, Al Lesaily and Hatta. The project, which covers roads extending 37 km in total, also includes road works over 21 km and adding streetlights for existing roads stretching 16 km. ...

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• 3 October

  Dubai’s Al Quoz Creative Zone to attract 33,000 visitors a day

  

  Dubai / WAM The Higher Committee of the Al Quoz Creative Zone on Sunday approved the master plan for the Al Quoz Creative Zone during a meeting chaired by HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council. The master plan provides a comprehensive blueprint ...

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• 3 October

  Adnec group, WAM announce exclusive Media Labs concept

  

    Abu Dhabi / WAM The Global Media Congress (GMC), taking place in Abu Dhabi from November 15-17, has been strengthened by the addition of the Media Labs, an innovative new concept. These invitation-only roundtables will center around a thorough debate on key themes relating to the future of the media industry. Welcoming up to 50 participants from different regions, ...

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