September, 2022

• 8 September

  Investcorp leads $100mn pre-IPO round in TruKKer

  

  Manama / WAM Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, on Wednesday announced that Investcorp Saudi Pre-IPO Growth Fund LP led the Pre-IPO round in privately-held TruKKer Holding Limited, Mena’s largest digital freight network with a leading position across Saudi Arabia, the UAE, Egypt and neighbouring countries. Investcorp led the initial close of …

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• 8 September

  Lufthansa averts pilots’ strike after last-minute pay raise offer

  

  Bloomberg Deutsche Lufthansa AG averted a disruptive pilot strike after raising its pay offer, a move that will avoid cancellations while complicating the airline’s efforts to boost profit and pay down debt. The VC pilots union spokesman said the union decided to call off a planned two-day walkout after Lufthansa improved its offer. The union didn’t immediately comment on terms …

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• 8 September

  Taiwan to resume visa free travel for some countries

  

  Bloomberg Taiwan will resume visa-free entry for travellers from countries it currently shares diplomatic ties with but will maintain a three-day quarantine requirement as the island takes halting steps towards easing its Covid-restrictions. Arrivals from more than 60 countries — including the US, UK and Australia — are eligible for visa-free entry starting September 12, though the duration of their …

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• 8 September

  Iceland Foods debt rebounds over UK energy support plans

  

  Bloomberg British budget grocery chain Iceland Foods saw its debt bounce off recent lows after UK Prime Minister Liz Truss finalised plans for a £40 billion ($46 billion) support package to lower energy bills for British businesses. Iceland’s £550 million of bonds maturing in March 2025 rose by as much as 1.8 pence on the pound to a cash price …

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• 8 September

  Instacart acquires AI-powered pricing platform Eversight

  

    Bloomberg Instacart Inc is acquiring Eversight Inc, a platform that helps retailers and packaged-goods brands determine pricing and set promotions, as it seeks to expand its technology offerings to grocers. “When it comes to grocery shopping, we know that every dollar matters. With higher inflation and the average cost of groceries up, we’re taking even more steps to make …

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• 8 September

  Lululemon Athletica raises full-year earnings forecast

    Bloomberg Lululemon Athletica Inc raised its full-year outlook, the latest sign that consumer demand among high-income shoppers remains strong even as inflation hurts purchasing power in other demographics. The maker of yoga pants and high-priced exercise attire now sees its full-year sales in a range of $7.87 billion to $7.94 billion, up from the previous range that had $7.71 …

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• 8 September

  Bed Bath & Beyond names interim CFO

    Bloomberg Bed Bath & Beyond Inc. promoted its chief accounting officer to interim chief financial officer after the death of former finance chief Gustavo Arnal. Laura Crossen, the company’s senior vice president of finance and chief accounting officer, has taken over the position, Bed Bath & Beyond said in a statement. She will continue as principal accounting officer. Arnal, …

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• 8 September

  Fed effect rips through Asia as currencies hit multi-year lows

  

    Bloomberg The dollar steamrolled through Asia Wednesday as bond market bets on higher-for-longer US rates gave fresh fuel to the greenback’s rally, triggering a vocal pushback from regional officials. A gauge of the greenback climbed to a record, helped by what has become the steepest-ever surge in real yields. The yen dropped to a fresh 24-year low, the won …

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• 8 September

  Bank of Canada seen nailing soft landing despite early wobble

  

    Bloomberg The Bank of Canada is expected to pull off a coveted soft landing, bringing soaring inflation back to near its 2% target without tipping the nation’s economy into a major downturn. A wide-ranging Bloomberg survey of 21 economists on Bank of Canada policy found that the central bank took a credibility hit with a late response to inflation. …

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• 8 September

  Philippine central bank open to more rate hikes

  

  Bloomberg Philippine central bank Governor Felipe Medalla signaled readiness for as many as three more quarter-point increases to interest rates, depending on the pace of the Federal Reserve’s monetary tightening. In a scenario where the Fed increases rates by 75 basis points and delivers one more hike after that, Bangko Sentral ng Pilipinas will probably be doing not more than …

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