November, 2021

• 28 November

  Zambia surprises with second rate hike this year

  Bloomberg Zambia’s central bank in a surprise move raised its benchmark interest rate for the second time this year to try contain inflation that’s still nearly triple the targeted rate. The monetary policy committee lifted the gauge to 9% from 8.5%, Governor Denny Kalyalya told reporters. It was Kalyalya’s first rate decision since being reappointed to the post in September. ...

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• 28 November

  BofA bearish on markets, sees ‘rates shock’ coming in 2022

  

  Bloomberg Bank of America Corp (BofA) strategists are bearish on markets next year and urged investors to focus on preserving cash as faster inflation and higher interest rates upend the trajectory of global asset prices. In a note to clients, strategists led by Michael Hartnett listed macro trade recommendations, including long positions on volatility gauges, oil, energy, the US dollar, ...

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• 28 November

  China regains favour of investors who consider India overvalued

  

  Bloomberg In a change of tone over the world’s two biggest emerging markets, global investors overseeing billions of dollars are slowly starting to favour China versus India — reversing a year-long trend that’s pushed stocks in opposite directions. BlackRock Inc. has upgraded Chinese stocks as policy hurdles ease, saying “the time to position in China is now,” while trimming its ...

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• 28 November

  Melt-up markets have a lot to unwind should Covid-19 scare stick

  

  Bloomberg One reason the first Covid-19 crash was so brutal back in March 2020 was all the froth that built up in markets before the virus landed. While there are differences for traders navigating the latest scare, a lot is the same, too. Chief among the similarities is a prevailing sense of comfort that investors found in solid economic data, ...

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• 28 November

  AED10b housing package for UAE citizens approved

  

  Abu Dhabi / WAM Under the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has ordered the disbursement of housing loans and houses, and residential plots ...

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• 28 November

  ERC opens two residential complexes in Zanzibar

  ZANZIBAR / WAM The Emirates Red Crescent Authority (ERC) opened the Abu Dhabi Residential Complex and Dubai Residential Complex in Nungwi and Pemba areas in Zanzibar region of Tanzania as part of the UAE humanitarian and developmental support to improve living standards in the region. The two complexes, which include 60 houses and associated healthcare, educational, electricity, water and environmental ...

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• 28 November

  MoIAT, Siemens ink deal to speed up digitisation of UAE’s industrial sector

  

  Abu Dhabi / WAM The UAE’s Ministry of Industry and Advanced Technology (MoIAT) has announced a partnership with Siemens to accelerate the assessment of the digital maturity of the UAE’s industrial companies and develop a strategic roadmap to implement Industry 4.0 frameworks. The program will be overseen by MoIAT and Siemens in order to address a broad range of topics ...

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• 28 November

  Dubai issues nearly 11,000 instant licences

  DUBAI / WAM The Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism in Dubai reported that 10,707 Instant Licences were issued during the first 10 months of 2021, among which 63% were professional and 37% were commercial. The Instant Licence is a path-breaking service whereby businessmen can establish and conduct business in Dubai easily with ...

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• 28 November

  UAE suspends entry of travellers from seven nations

  

  Abu Dhabi / WAM The General Civil Aviation Authority (GCAA) and the National Emergency Crisis and Disasters Emergency Management Authority (NCEMA) have announced the suspension of entry for travellers and transit passengers from South Africa, Namibia, Lesotho, Eswatini, Zimbabwe, Botswana, Mozambique. This includes suspending the entry of travellers who were in these countries 14 days before coming to the UAE. ...

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• 28 November

  UAE announces 98 new recoveries from Covid-19

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 294,480 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

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