October, 2022

• 17 October

  JPMorgan posts record net interest income

  

    Bloomberg JPMorgan Chase & Co. reported its highest quarterly net interest income ever and raised its guidance for the year as the biggest US bank reaps rewards from the Federal Reserve’s interest-rate hikes. The firm generated $17.6 billion in third-quarter NII, the money it earns on loans minus what it pays out for deposits. Expenses also came in lower ...

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• 17 October

  Credit Suisse facing $8b capital shortfall

  

    Bloomberg Credit Suisse Group AG faces a capital shortfall of as much as 8 billion Swiss francs ($8 billion) in 2024, analysts at Goldman Sachs Group Inc. estimate, underscoring the challenges for the troubled lender as it nears what’s likely to be a deep restructuring. At the very least, the Zurich-based firm is facing a hole of 4 billion ...

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• 17 October

  As Citi’s traders struggle, consumers prop up bank’s profit

  

  Bloomberg While Citigroup Inc.’s Wall Street operations wrestle with tough markets, the bank is getting a boost from the little guy: consumers leaning on credit cards during the worst inflation in a generation. The bank’s third-quarter profit beat analysts’ estimates even as revenue falls short in trading and deal-making, which had thrived during the pandemic. Salvation this time came from ...

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• 17 October

  HDFC’s quarterly profit rises by 20%

    Bloomberg HDFC Bank Ltd.’s quarterly profit rises 20%, almost in line with analyst estimates as higher interest income boosted India’s biggest lender by market valuation, setting the tone for the nation’s bank earnings. Net income for the quarter ended September stood at 106.1 billion rupees ($1.3 billion), compared to 88.3 billion rupees a year ago, according to an exchange ...

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• 17 October

  EXEED VX epitomises grandeur and luxury

  

    ABU DHABI / GULF TIME Driven by the design concept of “Intelligent Aesthetics”, each model of the high-end brand EXEED is committed to the deep integration of intelligent technology and visualarts, while conveying rich emotions through design and showing more modern beauty ofimagination. As the flagship model of EXEED VX actively appeals to the three elementsof “Precision”, “Purity” and ...

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• 16 October

  Updating disaster recovery plan a must to build data resilience: Arcserve

  

    DUBAI / GULF TIME ARUNIMA MISHRA US-based Arcserve, a top 5 data protection vendor and unified data resilience platform provider, participated at the recently concluded Gitex Global 2022. For Arcserve, attending Gitex Global 2022, a well-known event for the IT industry over the years, is key to growing our footprint in the GCC region, said Florian Malecki, executive vice ...

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• 15 October

  UAE strongly condemns bus bombing in central Mali

    Abu Dhabi / WAM The UAE strongly condemned the bombing that took place in central Mali and targeted a passenger bus, which resulted in death and injury of dozens of civilians. The Ministry of Foreign Affairs and International Cooperation affirmed that the UAE expresses its strong condemnation of these criminal acts, and its permanent rejection of all forms of ...

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• 15 October

  Al Dahra Holding, Valmont Industries sign deal to cooperate in agriculture

  

    Dubai / WAM Al Dahra Holding company, one of the most prominent Emirati Companies working in the agricultural field, has signed a memorandum of understanding (MoU) with Valmont Industries, a leading American manufacturer of irrigation systems and agricultural technologies for the purpose to regulate the relationship between the two companies by establishing global relationship model in many areas of ...

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• 15 October

  flydubai enters new wet lease deal with Smartwings

  

    Dubai / WAM flydubai, the Dubai-based airline, announced on Friday its agreement with Smartwings, the Czech Republic-based airline, to wet lease four Next-Generation Boeing 737-800 aircraft between November 17 and January 16, 2023. The Aircraft, Crew, Maintenance and Insurance (ACMI) agreement with Smartwings will see four-leased aircraft support flydubai’s fleet of 68 Boeing 737 aircraft, enabling the carrier to ...

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• 15 October

  Dubai week-long real estate deals reach AED7.3bn

    Dubai / WAM A total of 2,338 real estate transactions worth AED7.3 billion were conducted during the week ending October 14, according to figures released by the Dubai Land Department. A total of 106 plots were sold for AED1.76 billion, and 1,791 apartments and villas were purchased for AED3.81 billion. The top three transactions were two lands sold for ...

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