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Bloomberg Citigroup Inc. appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the US bank reduces its business in the country following President Vladimir Putin’s invasion of Ukraine. Russia will continue to be part of Citigroup’s EMEA emerging markets cluster under its regional Chief Executive Officer Ebru Pakcan, according to an internal memo seen ...
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September, 2022
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29 September
ECB to lift rates at next ‘several’ meetings
Bloomberg European Central Bank (ECB) President Christine Lagarde said borrowing costs will be raised at the next “several meetings†to ensure inflation expectations remain anchored and price gains return to the target. Addressing an event in Frankfurt, Lagarde said bringing inflation back to the 2% medium-term goal is the ECB’s main mission — despite increasing concerns about recessions in ...
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29 September
China stock traders seek golden week boost after brutal selloff
Bloomberg China’s Golden Week holiday will be a crucial period for stock traders looking for fresh market impetus, after a brutal year pushed a key benchmark to near its lowest in two years. The CSI 300 Index has lost more than 14% this quarter, buffeted by the nation’s Covid- 19 restrictions and property woes, as well as a global selloff ...
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29 September
Japan’s bond market liquidity falls to lowest level since 2011
Bloomberg Japan’s bond market liquidity deteriorated to levels not seen in over a decade on growing fears that overseas rate hikes would lead to a global economic downturn. A Bloomberg gauge measuring the deviation of Japanese government bond yields from model-estimated values soared this week to its highest level since April 2011, suggesting few investors were willing to bet ...
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29 September
ADQ, OIA identify investments worth AED30 billion in Oman
ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority (OIA), across various sectors aimed at contributing to increased economic cooperation and trade between both nations. The meeting was held on the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to Oman, ADQ ...
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29 September
UAE, Oman sign deal to invest $3bn to link railway network
Muscat / WAM On the sidelines of President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to Oman, Oman Rail, the Sultanate’s national developer and operator of railway networks, signed an agreement with Etihad Rail, the developer and operator of the UAE National Rail Network, to jointly establish an equally-owned company, Oman-Etihad Rail Company. The newly created entity ...
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29 September
UAE President sends letter of thanks to Sultan of Oman
Muscat / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a letter of thanks to His Majesty Sultan Haitham bin Tariq, the Sultan of Oman, after leaving Muscat at the conclusion of a state visit to the Sultanate of Oman, in which His Highness expressed his heartfelt thanks and appreciation for the warm welcome and ...
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29 September
IHC acquires 54% stake in Emircom for AED250m
ABU DHABI / WAM International Holding Company (IHC) announced on Wednesday the completion of a 54% stake acquisition in Emircom, the Middle East’s leading information and communications technology (ICT) provider, through its subsidiary, IHC Digital. This AED250 million transaction comes as part of the IHC’s group-wide strategy to grow its digital assets portfolio and expand into new growth areas. ...
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29 September
UAE one of the quickest economies to reach its pre-pandemic levels
ABU DHABI / WAM The UAE has consolidated its position as one of the quickest economies to reach its pre-pandemic levels among GCC peers, said Issam Abousleiman, Country Director of the GCC Countries, Middle East and North Africa at the World Bank. In an interview with the Emirates News Agency (WAM), Abousleiman said the UAE led the world with ...
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29 September
Adnoc Distribution to pay AED1.28bn as H1 dividend
ABU DHABI / WAM Adnoc Distribution announced on Wednesday the approval of an interim dividend payment to shareholders for the first six months of 2022 of AED1.285 billion (10.285 fils per share), equivalent to $350 million. This is the first payment of what is expected to be a full-year 2022 dividend payment of minimum AED2.57 billion (20.57 fils per ...
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