September, 2022

• 13 September

  Goldman plans to cut several hundred jobs

  Bloomberg Goldman Sachs Group Inc is embarking on its biggest round of jobs cuts since the start of the pandemic. The Wall Street titan plans to eliminate several hundred roles starting this month, according to people with knowledge of the matter. While the total number is less than some previous rounds, the reductions are a resumption of Goldman’s annual culling ...

  Read More »
• 13 September

  China bank lending sees slow recovery over caution

  

  Bloomberg China’s credit growth recovered in August from a record low after the central bank cut rates and pushed banks to lend more, although still anemic household borrowing and the return of shadow banking suggest that real demand for loans is still not strong. Aggregate financing to the economy, which is a broad measure of new credit, was triple the ...

  Read More »
• 13 September

  Stocks, US futures extend rally as dollar tumbles

  

    Bloomberg European stocks and US futures extended a rally and the dollar retreated as traders bet inflation is near peaking even as policy makers ramp up hawkish rhetoric. The Stoxx Europe 600 index climbed for a third day, with retailers and miners leading the advance and all major regional benchmarks in the green. Futures on the S&P 500 and ...

  Read More »
• 13 September

  China consumer stock rout signals darkening economic outlook

  

    Bloomberg Covid restrictions are stifling spending in China’s vast consumer market and turning some popular retailers and automakers into stock laggards. The outpouring of pent-up demand has been absent in Covid zero China. Instead, an uncertain growth outlook, coupled with record high youth jobless rate, has caused consumer discretionary stocks in the MSCI China Index to underperform the broader ...

  Read More »
• 12 September

  Oil claws back from six-month lows to lessen weekly decline

  

  Bloomberg Oil mustered a late comeback after dropping to six-month lows this week as a softer dollar bolstered trader demand across assets. West Texas Intermediate settled above $86 a barrel, finishing a tumultuous week nearly flat with the prior seven days. At the start of the week both benchmarks, WTI and Brent, slipped to lows not seen since the start ...

  Read More »
• 12 September

  UAE Cabinet reviews growth, development indicators

    ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting held at Qasr Al Watan Abu Dhabi. His Highness Sheikh Mohammed bin Rashid Al Maktoum said: “I chaired the Cabinet meeting at Qasr Al Watan in Abu Dhabi. We reviewed the ...

  Read More »
• 12 September

  Dewa aims AED 3.1 billion cash dividends for H1 2022

  

    DUBAI / WAM Dubai Electricity and Water Authority PJSC (DEWA or the Company), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), has announced that the Company’s first general assembly meeting will be held physically and virtually on Monday, 10 October 2022. The Assembly will vote on the recommendation ...

  Read More »
• 12 September

  FTA organises three youth circles on tax culture to support SMEs

  

  Abu Dhabi / WAM The Federal Tax Authority (FTA) Youth Council, in cooperation with the Federal Youth Authority (FYA), held three youth circles on Tax Culture to Support Small and Medium Enterprises (SMEs) as part of the council’s initiatives to raise tax awareness and facilitate tax compliance through direct engagement with youth business. More than 100 representatives of small and ...

  Read More »
• 12 September

  Trend Industries’ new facility to boost production capacity

  

    Sharjah / WAM Trend Industries FZC, a world-class company and front-runner partnering with clients in specialised fabrication, has announced plans to invest AED25 million in the construction of a new production facility in the Hamriyah Free Zone. According to the company’s new expansion strategy, Trend Industries will scale up its production capacity from 3,600 tonnes per year to 8,400 ...

  Read More »
• 12 September

  Tadweer collects 1,860,000 tons of waste in H1

    Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) announced that it has processed more than 1,860,000 tons of waste, including 88,382 tons of medical and hazardous waste, and handled 50,000 pest control requests during the first half of 2022. This comes as part of the Centre’s continuous efforts to build an efficient integrated waste management and pest ...

  Read More »