December, 2021

• 21 December

  Crypto’s rapid growth could pose stability risks, says BOE

    Bloomberg The Bank of England (BOE) reiterated its warning that the rapid growth of cryptocurrency assets could pose stability risks to the UK financial system, even though the current direct risks are “limited.” The central bank’s Financial Policy Committee said crypto assets are becoming more interconnected with wider financial system, and enhanced regulatory and law enforcement frameworks are needed ...

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• 21 December

  Thai central bank plans to draw red-lines on cryptos

  

    Bloomberg Thailand plans to unveil detailed rules for digital assets to minimise risks to the financial system and provide greater investor protection as more people are drawn to cryptocurrencies, according to the central bank. The Bank of Thailand will release a consultation paper on “Financial Landscape” in January that will seek a consensus around the red lines for those ...

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• 21 December

  Boldest Asian central bank to pause ‘rates’

    Bloomberg Pakistan’s central bank will pause interest-rate increases to preserve economic recovery after delivering Asia’s boldest hikes since September, Governor Reza Baqir said. “We are going to take a pause to first look at the effects of the tightening we have already done,” Baqir told Bloomberg Television’s Rishaad Salamat and Yvonne Man. “Fiscal policy has been very complementary and ...

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• 21 December

  HSBC to phase out financing of thermal coal by 2040

  

    Bloomberg HSBC Holdings Plc is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel. The London-based lender will stop financing thermal coal in the European Union and countries belonging to the Organisation for Economic Co-operation and Development (OECD) by 2030, ...

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• 21 December

  Traders sent $30 billion into dip and this time got bruised

  

    Bloomberg Buying after a plunge, a trade rewarded virtually every time stocks pulled back in 2021, is facing a big challenge. Down hard for a second day Monday, the S&P 500 has now posted back-to-back, 1%-plus swoons twice in the past month, something it has mostly avoided doing before. It’s a worrying departure from the recent past, when 1% ...

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• 21 December

  Stocks, US futures rise in rebound from slump

  

    Bloomberg Stocks rise with US equity futures Tuesday on wagers that vaccines can help tame the omicron virus outbreak and signs that US President Joe Biden could yet revive his $2 trillion economic agenda. European shares rebounded, with miners in the lead as commodities gained. Asian shares were bolstered by a rebound in Japan and a rally in Chinese ...

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• 21 December

  WFES 2022 to focus on business of future energy, sustainability

  

    Abu Dhabi / WAM The World Future Energy Summit (WFES) is set to bring together industry leaders from around the world to showcase their technologies and innovations at the Abu Dhabi National Exhibition Centre (Adnec) from January 17-19, 2022. The event will provide unparalleled business, networking and knowledge exchange opportunities throughout Abu Dhabi Sustainability Week, according to organisers. Organised ...

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• 21 December

  Tabreed partners with World Bank’s IFC to expand in India

  

    Abu Dhabi / WAM The National Central Cooling Company (Tabreed) has entered into a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to invest about $400 million in India over the next five years. Under the partnership agreement, Tabreed India, currently a wholly owned subsidiary of Tabreed, will be transferred to a ...

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• 21 December

  UAE expresses solidarity with Philippines over typhoon victims

  Abu Dhabi / WAM The United Arab Emirates has expressed its sincere condolences and solidarity with the Philippines over the victims of Typhoon Rai, which swept through several central and southern areas. The typhoon caused around 200 fatalities and left thousands homeless. The Ministry of Foreign Affairs and International Cooperation expressed its sincere condolences and sympathy to the Philippines government ...

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• 21 December

  EDB, FAB to provide $165m ‘credit’ facility to Lamprell

  

    ABU DHABI / WAM Emirates Development Bank (EDB) on Monday announced the closure of an AED165 million revolving credit facility, co-arranged with First Abu Dhabi Bank (FAB) to Lamprell Energy Ltd, a leading provider of services to the international energy sector. The bespoke credit facility additionally benefited from the comprehensive trade credit solutions provided by Etihad Credit Insurance (ECI), ...

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