September, 2022

• 26 September

  ECB’s Simkus says half point is minimum hike for October

    Bloomberg The European Central Bank (ECB) will raise borrowing costs next month by at least a half-point as inflation pressures worsen, according to Governing Council member Gediminas Simkus. “Based on data I see now, the inflationary trends are intensifying,” the Lithuanian central bank chief told reporters on Monday in Vilnius. “There are a few options on the table” for ...

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• 26 September

  RBA’s digital currency pilot likely next year

    Bloomberg The Reserve Bank of Australia (RBA) is working to identify business models and uses for a central bank digital currency, or eAUD, and is likely to conduct a pilot early next year. The project, which began in July, will help “further understanding of some of the technological, legal and regulatory considerations associated with a CBDC,” the RBA and ...

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• 26 September

  China’s CCB to set up $4.2 billion fund to buy properties

  

    Bloomberg China Construction Bank Corp (CCB) will set up a 30 billion yuan ($4.2 billion) fund to buy properties from developers, as policy makers beef up efforts to contain a real estate crisis that’s weighing on the economy. The fund will “invest in existing assets” of real estate companies and renovate the properties into rental housing, the lender said ...

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• 26 September

  Global risk assets tumble as pressure on UK mounts

  

    Bloomberg Global risk assets extended their selloff on Monday as fears of faster inflation and global recession continued to rise. UK markets were in focus as the pound crashed to an all-time low and bond yields surged to the highest in more than a decade, sparking talk of emergency action by the Bank of England. The market mayhem unleashed ...

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• 26 September

  Crypto duelling with the dollar to be this quarter’s top performer

  

    Bloomberg Wild gyrations in markets have left cryptocurrencies duelling with the dollar for the title of top-performing asset this quarter. The MVIS CryptoCompare Digital Assets 100 Index has added 7.3% since the end of June, whereas stocks, bonds, commodities and gold suffered losses. The Bloomberg Dollar Spot Index is up by a similar magnitude over the period, reaching a ...

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• 26 September

  UAE inks deal with German firms to develop hydrogen strategy

  

  Abu Dhabi / WAM The Ministry of Energy and Infrastructure (MoEI), announced that it had signed an agreement with GHD Group, in partnership with the Germany-based Fraunhofer–Gesellschaft, to develop its National Hydrogen Strategy. As part of the UAE’s Hydrogen Roadmap and the ongoing commitment to decarbonisation and energy transition, the National Hydrogen Strategy will help establish the UAE’s hydrogen vision ...

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• 26 September

  UAE President to begin two-day state visit to Oman

    ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan will begin a two-day state visit to the Sultanate of Oman on Tuesday. During his second state visit as President, His Highness Sheikh Mohamed will meet with the Sultan of Oman, His Majesty Sultan Haitham bin Tariq, to build upon the longstanding, brotherly ties and cooperation ...

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• 26 September

  MTC opens new facility at Hamriyah free zone

    SHARJAH / WAM Magnum Technology Centre (MTC), a world leader in the design and manufacture of entire equipment packages for well testing and production, Managed Pressure Drilling and Under Balance Drilling services, opened a new 345,000 square feet production facility in the Hamriyah Free Zone. The new factory is set to increase MTC’s production capacity by 10% from its ...

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• 26 September

  Global Tech and Metaverse community to discuss potential of new immersive world

  

    DUBAI / WAM Dubai Metaverse Assembly will be organized by Dubai Future Foundation (DFF), under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council and Chairman of the Board of Trustees of the DFF, on September 28-29 at the Museum of the Future and Area 2071. The ...

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• 26 September

  SCCI discusses credit report, score for SMEs

    SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI), represented by “Tijarah 101”, has hosted a webinar in cooperation with Al Etihad Credit Bureau to discuss the importance of AECP credit report and score for SME businesses. The webinar discussed various topics including the comprehensive credit protection solutions provided by Al Etihad Credit Bureau to help companies ...

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