September, 2022

• 29 September

  Yuan falls to weakest level since 2008 on signs PBOC easing grip

  

    Bloomberg The onshore yuan falls to the weakest level against the dollar since the global financial crisis in 2008, amid an incessant advance in the greenback and speculation China is toning down its support for the local currency. The onshore yuan weakened to 7.2409 per dollar, a level unseen in 14 years, while the offshore unit slid to an ...

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• 29 September

  JPMorgan’s UK digital bank attracted 1 million customers in one year

  

  Bloomberg JPMorgan Chase & Co.’s UK digital lender has attracted 1 million customers in its first year of operation, making it one of the UK’s most popular neobanks. Chase UK clients hold an average of £27,000 ($29,084) in their Chase Saver account, according to a statement on Wednesday. The lender said it has processed about 92 million card and payment ...

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• 29 September

  Goldman Sachs signs lease for new Birmingham office

    Bloomberg Goldman Sachs Group Inc. signed a lease for a new office in Birmingham, England, that could eventually accommodate as many as 1,000 staff. The Wall Street bank has signed a long-term lease for about 110,000 square feet of space in One Centenary Way, an office being built at the Paradise Birmingham development, according to a statement Wednesday. Goldman ...

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• 29 September

  Bank Indonesia intervention lifts rupiah from lowest since 2020

  

    Bloomberg Bank Indonesia stepped in to prop up the rupiah for a second day, joining a host of other policy makers which are pushing back against a surging dollar. Indonesian authorities are intervening in the spot and domestic non-deliverable forwards markets to prevent the rupiah from weakening excessively, Edi Susianto, executive director of monetary management, said in a text ...

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• 29 September

  Dollar rallies, UK bonds surge after Bank of England statement

  

  Bloomberg The dollar rises to another record after the White House talked down the prospect of weakening the currency, while UK bonds surged after the Bank of England (BOE) said it would carry out temporary purchases of long-dated government bonds to help restore order to the market. US futures were mixed, while European stocks dropped for a fifth day as ...

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• 29 September

  Citi says European stock outflows are at euro zone crisis levels

  

    Bloomberg Investors are abandoning European stocks at levels last seen during the euro zone debt crisis, according to Citigroup Inc. strategists, adding that this could represent a contrarian signal to buy. European equity funds are on track for eight straight months of outflows totalling $98 billion, or 6% of assets under management, the bank said in a note citing ...

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• 28 September

  Beeah, Egypt’s Green Planet sign 10-year waste management deal

  

    Sharjah / WAM Beeah group and Green Planet, Egypt’s emerging environmental services company, have formed a partnership to deliver a landmark ten-year contract in Sharm el-Sheikh. The development comes ahead of Cop27, which will be held in Sharm el-Sheikh, between November 6-18. In the presence of Dr. Mostafa Madbouly, Prime Minister of Egypt; Khaled Al Huraimel, Group CEO of ...

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• 28 September

  UAE leaders wish Turkmenistan President on Independence Day

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Serdar Berdymukhamedov of Turkmenistan, on the occasion of his country’s Independence Day, which is celebrated annually on September 27. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

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• 28 September

  UAE, Georgia begin first round of talks on CEPA

  

  TBILISI / WAM The first round of talks to reach a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of Georgia are ongoing in the Georgian capital, Tbilisi. The agreement aims to drive economic growth in the two countries and boost the deep and growing relations between the two countries. Dr. Thani bin Ahmed Al Zeyoudi, Minister ...

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• 28 September

  Ducab secures contract to supply cable solutions to world’s largest solar project

  

    DUBAI / WAM Ducab group has been awarded the full EPC (engineering, procurement & contracting) contract to supply and install 400 kV cables and accessories to link Al Dhafra, the world’s largest solar plant in Abu Dhabi, with the emirate’s main Transco transmission grid (Abu Dhabi Transmission and Despatch Company) through its specialised division, Ducab HV. This collaborative project ...

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