September, 2022

• 23 September

  Powell’s rate hike till inflation breaks makes dollar king trade

  

  Bloomberg The surging dollar is showing there’s only one macro asset worth buying when the Federal Reserve tightens above its long-term neutral rate. Traders offloaded stocks, bonds and major currencies for a second day after the US central bank raised rates for a fifth time this year. The yen, the biggest Group-of-10 loser, briefly slid past 145 per dollar, prompting ...

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• 23 September

  Citi proposes revamp of UK retail banking, Canary Wharf branch

  

    Bloomberg Citigroup Inc wants to focus its UK retail-banking operation on its wealthiest customers as the Wall Street giant revamps its overseas presence. The company will invite UK customers that meet the profile of its private bank to make use of those services as it winds down the operation, according to a statement about the proposal. The majority of ...

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• 23 September

  Yuan losses deepen highlighting limits of PBOC currency defense

  

  Bloomberg China’s yuan is set for its longest losing streak since June even after the central bank sought to support the currency with stronger-than-expected fixings in every single session for nearly a month. The onshore yuan slid for the fourth straight day to trade just 0.5% shy of the weak end of its allowed trading range with the greenback following ...

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• 23 September

  JPMorgan wins Texas municipal-bond deal

    Bloomberg JPMorgan Chase & Co won a competitive auction for a municipal-bond deal sold by a Texas school district, marking a major step for the bank after it paused most public-finance work in the state because of a new Republican law targeting Wall Street’s gun policies. Frisco Independent School District, about 30 miles (48 kilometres) north of Dallas, awarded ...

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• 23 September

  Thai officials pile pressure on central bank to shield baht

  

    Bloomberg Thailand’s central bank and the finance ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signalling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation. The ministry and Bank of Thailand (BOT) will discuss the baht’s weakness as the nation needs “to ...

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• 23 September

  US equity futures waver as inflation battle intensifies

  

  Bloomberg US equity futures wavered and Treasury yields edged higher after the Federal Reserve signaled it would risk a recession to beat inflation, precipitating a wave of monetary tightening from other central banks. Contracts on the S&P 500 fluctuated after the benchmark’s tumble when the Fed unleashed a third consecutive 75 basis-point hike and indicated another of the same magnitude ...

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• 23 September

  Bitcoin erases drop triggered by Fed’s warning of rate-hike

  

  Bloomberg Cryptocurrencies fought off declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central bank’s warning of economic pain ahead from tightening policy. Bitcoin, the largest token, was about 1.2% higher in London after earlier sliding as much as 4% towards levels last seen in 2020. Second-biggest coin Ether continued to underperform, shedding 2%. ...

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• 22 September

  Taqa’s subsidiary Mipco secures AED4b financing

  

    ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) has announced that the Mirfa International Power & Water Company (Mipco), the project company that owns and operates the Mirfa Power & Water Plant (Mirfa IWPP), successfully completed refinancing of AED4 billion (US$1.09 billion). This long-term financing is denominated in USD and is slated to mature on 30th September, ...

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• 22 September

  Sheikh Mohamed receives letter from Tajik President

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has received a written letter from Emomali Rahmon, President of the Republic of Tajikistan, concerning the development of ties between the two countries. The letter was received by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, during his ...

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• 22 September

  Emaar fully acquires Dubai Creek Harbour

  

    DUBAI / WAM Emaar Properties held a General Meeting on Wednesday, where shareholders approved the acquisition of Dubai Creek Harbour from Dubai Holding and the sale of Namshi Holding Limited to Noon AD Holdings Ltd from Emaar Malls Management, a wholly-owned subsidiary of Emaar Properties. Shareholders approved a motion to acquire assets from Dubai Holding and the issuance of ...

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