September, 2022

• 13 September

  Australia to end outsized rate hikes, say economists

  

    Bloomberg Australia’s central bank will dial back the pace of policy tightening to quarter percentage-point moves from next month as it tries to navigate a path to cooling inflation while maintaining economic growth. Three-quarters of economists surveyed by Bloomberg expect the cash rate will rise to 2.6% from 2.35% at the Reserve Bank’s October 4 meeting. The poll was ...

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• 13 September

  Singapore’s prominent family scions make digital assets push

    Bloomberg Scions from two of Singapore’s most prominent families are boosting their involvement in digital assets. Whampoa Group, a multi-family office anchored by principals from the Lee family that founded Oversea-Chinese Banking Corp. and Amy Lee, the niece of the city-state’s founding prime minister, wants to spin out its asset-management business for digital investments. Family offices tend to be ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 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 ...

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