August, 2022

• 26 August

  BofA adds 2,600 military veterans to workforce

    Bloomberg Bank of America Corp (BofA) said it hired 2,600 military veterans this year on top of a five-year goal to add 10,000. The additions mean a 24% increase in representation of veterans at the bank, according to a memo to staff seen by Bloomberg News. The number of veterans at the company is now more than 15% of ...

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• 26 August

  Credit Suisse chases a broader set of global wealthy

    Bloomberg Credit Suisse Group is shifting resources to win business from high-net-worth clients as the lender focuses more heavily on wealth management amid cuts to its troubled investment bank. The Swiss bank is reassigning advisers to its dedicated Private Banking International unit, led by Raffael Gasser, according to an internal memo seen by Bloomberg. The aim is to expand ...

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• 26 August

  China stimulus lifts mood in countdown to Fed’s Powell

  

    Bloomberg US futures rise on Thursday as China’s massive stimulus steadied some nerves in the anxious wait for a key speech by Federal Reserve Chair Jerome Powell. Treasury yields and a dollar gauge dipped. Contracts on the S&P 500 and Nasdaq 100 pushed higher in the wake of positive closes for both gauges, though they came off session highs. ...

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• 26 August

  HK short squeeze rises risk for Morgan Stanley quants

  

  Bloomberg The amount of bearish bets against Hong Kong stocks has risen to levels that could trigger a surge in share prices as traders rush to close out their positions, according to quantitative analysts at Morgan Stanley. Hedge funds and other short sellers say they’re either covering bearish wagers or planning to do so, strategist Gilbert Wong wrote in emailed ...

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• 25 August

  First Abu Dhabi Bank announces multiple-thematic fund for clients

  

    Abu Dhabi / WAM First Abu Dhabi Bank (FAB) has announced the launch of a multiple-thematic fund, the “FAB Thematic Rotation Fund” under the OneShare PLC umbrella fund, which is regulated by the central bank of Ireland. Through this fund, investors will have access to global investment opportunities across themes and trends arising from long-term structural changes, called Megatrends, ...

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• 25 August

  Assets of national companies rise 10% to AED4.73tn in H1

  

    Abu Dhabi / WAM The assets of national companies listed in local financial markets rose by 10 percent in the first half of 2022, equivalent to AED425.7 billion, an indicator of their robust financial performance and ability to expand their operational activities, develop new products and conduct acquisitions. According to the disclosures of 118 listed companies that announced their ...

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• 25 August

  UAE leaders wish President of Ukraine on Independence Day

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Volodymyr Zelenskyy of Ukraine on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent similar messages to the Ukrainian ...

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• 25 August

  Aldar unveils AED1.15b Yas Park Gate project

  

    Abu Dhabi / WAM Aldar Properties has announced the launch of Yas Park Gate, its latest gated community which will be located on the doorstep of Yas Park, a first of its kind family and recreational activity park in Abu Dhabi. As a natural progression in the development of the second phase of North Yas, the AED1.15 billion residential ...

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• 25 August

  Adnoc Drilling acquires additional offshore jack-up rig for $70 million

  

    Abu Dhabi / WAM Adnoc Drilling Company (Adnoc Drilling) on Wednesday announced it has signed a sale and purchase agreement (SPA) to acquire an additional premium offshore jack-up drilling unit (rig) for $70 million. The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and strategic plans to expand its existing business. The sale ...

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• 25 August

  Abu Dhabi Airports sees 6.3mn passengers in H1

  

    Abu Dhabi / WAM Abu Dhabi Airports, the operator of the five airports in the emirate of Abu Dhabi, on Wednesday released its passenger traffic report for the first half of 2022. The report revealed healthy figures for passenger traffic of 6,299,725 across Abu Dhabi International, Al Ain International, Al Bateen Executive, Delma and Sir Bani Yas Island airports ...

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