September, 2022

• 7 September

  Typhoon leaves South Korea with less damage than expected

  

  Bloomberg Typhoon Hinnamnor left at least two people dead and created flooding and power outages as it passed through South Korea, though the destruction appeared to be less than had been forecast. Hinnamnor hit near the southern city of Geoje at 4:50 a.m. local time on Tuesday and moved off the coast near Ulsan just a few hours later, the ...

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• 6 September

  RBA raises key rate to 7-year high, signals more to come

  

    Bloomberg Australia’s central bank raised interest rates by a half-percentage point for a fourth consecutive meeting and signalled further hikes ahead in its drive to rein in inflation. The Reserve Bank of Australia (RBA) took the cash rate to 2.35%, the highest level since 2015, in a widely expected announcement on Tuesday. The tightening is Australia’s quickest in a ...

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• 6 September

  France mulls changes to mortgage lending rules

  

  Bloomberg France is considering changes to mortgage lending rules to ensure credit to households as the European Central Bank delivers sharp rate increases to counter surging inflation. At present, French regulations cap rates that banks can offer based on average rates in the past quarter plus an extra premium. Some banks have become reluctant to accept loan applications as rates ...

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• 6 September

  China cuts forex reserve ratio in bid to support tumbling yuan

  

    Bloomberg China has reduced the amount of foreign-exchange deposits banks need to set aside as reserves for the second time this year to boost the yuan after the currency hit a two-year low. Financial institutions will need to hold 6% of their foreign-currency deposits in reserves starting from September 15, the People’s Bank of China (PBOC) said in a ...

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• 6 September

  Ringgit falls to lowest level since Asian financial crisis

    Bloomberg The Malaysian ringgit tumbled to a 24-year low as a stronger dollar and domestic political risks damped sentiment. The ringgit falls as much as 0.2% to 4.5015 per dollar as it breached the 4.5002 mark reached in January 2017. The Malaysian currency is now at its weakest level since January 1998, during the Asian Financial Crisis. A resurgent ...

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• 6 September

  RBI acts to anchor rupee depreciation expectation

  

  Bloomberg The Reserve Bank of India (RBI) is in the currency market almost everyday with the twin objective of curbing volatility and anchoring expectations for rupee depreciation, the central bank’s Governor Shaktikanta Das said. “Exchange rate stability is an intrinsic element of our overall macroeconomic and financial stability,” Das said in Mumbai. “Our endeavour, amidst the extraordinary events unfolding globally ...

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• 6 September

  US futures, European stocks advance; pound rebounds

  

    Bloomberg US stock futures climbed, with dip buyers drawn to attractive valuations after three weeks of Wall Street declines. European stocks rose as investors assessed responses to the region’s energy crisis ahead of the European Central Bank’s policy meeting later this week. S&P 500 and Nasdaq 100 contracts both advanced by more than 0.6%, with cash trading set to ...

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• 6 September

  Indonesia joins Asia dollar bond rush with sovereign deal

  

    Bloomberg Indonesia marketed a benchmark-sized dollar bond, joining a flurry of activity in Asia as issuers took advantage of a let-up in borrowing costs. The offer features three tenors, according to a person familiar with the matter, who asked not to be identified because they’re not authorised to speak about the matter. Yields on the sovereign’s existing dollar bonds ...

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• 6 September

  UAE launches survey to support startups, SMEs in space sector

  

    Dubai / WAM Sarah bint Yousif Al Amiri, Minister of State for Public Education and Advanced Technology, and Chairwoman of the UAE Space Agency, said the UAE, guided by the vision of its wise leadership, has placed the space industry among its top priorities for the next fifty years, announcing many plans and initiatives that aim to consolidate the ...

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• 6 September

  UAE promotes charity work, turns it into community culture

    ABU DHABI / WAM The UAE has successfully promoted the concept of charity work and turned it into a community culture and an ethical rule, by capitalising on the ethical legacy of members of the community. In this context, the UAE participated in the celebrations of the annual International Day of Charity which falls on the September 5. Federal ...

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