November, 2021

• 22 November

  Ras Al Khaimah economic zone’s mobile app goes live

  

  Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) has unveiled the Rakez Mobile App, another key milestone in the economic zone’s ongoing digitisation journey that aims to boost the ease and accessibility it offers to global investors. Available on both Apple Store and Google Play, the app is packed with wide-ranging features that allow clients to submit ...

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• 22 November

  Joe Biden’s inflation pitch doesn’t pass laugh test

  

  President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project. The first weakness of Biden’s argument is that the timing is all wrong. The White House issued a prepared statement from Biden claiming that “17 Nobel Prize winners in ...

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• 22 November

  A small-item-in-a-big-box problem

  

  It’s a familiar phenomenon for anyone who regularly shops online: A single tube of toothpaste arrives on the doorstep with lightning speed, but it’s in a box that easily could have housed an entire medicine cabinet’s worth of toiletries. This is partly a reflection of how retailers have optimised e-commerce for convenience, making the click of a button a viable ...

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• 22 November

  Deutsche’s deal shows how to win hedge funds

  There is still a lot to fix at Deutsche Bank before it can hope to get near a decent return on equity, but in one area it has made definite progress: the cost and stability of its debt. Stock market investors should care. Deutsche Bank’s funding costs matter for its revenue prospects as well as for the expense of its ...

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• 22 November

  Energy pipelines have always been political

  The placement of energy pipelines has always been shaped by political considerations, often at the expense of commercial ones. But the operation of existing lines is increasingly becoming politicised, too. And that’s going to hurt everyone. There are many examples of pipeline routes being selected to serve geopolitical ends. Russia’s construction of the Nord Stream 2 gas pipeline to Germany ...

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• 22 November

  China’s hypersonic test showed unprecedented capability: FT

  

  Bloomberg China fired a missile from a hypersonic weapon as it approached a target during a test in July, the Financial Times reported, adding the Pentagon was surprised because no nation was known to have the capability. A hypersonic glide vehicle launched by China fired the projectile over the South China Sea while moving at five times the speed of ...

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• 22 November

  US: Russia plans for ‘Ukraine invasion’

  Bloomberg The US has shared intelligence including maps with European allies that shows a buildup of Russian troops and artillery to prepare for a rapid, large-scale push into Ukraine from multiple locations if President Vladimir Putin decided to invade, according to people familiar with the conversations. That intelligence has been conveyed to some Nato members over the past week to ...

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• 22 November

  China FX panel urges banks to cap speculation as yuan surges

  

  Bloomberg An organisation formed by key participants in China’s currency market urged banks to limit speculative foreign-exchange trading after the yuan climbed to a six-year high versus peers. The China Foreign Exchange Committee (CFEC) — founded under guidance from the central bank — encouraged lenders to be risk-neutral when trading foreign exchange for themselves and for clients, according to people ...

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• 22 November

  OCBC mulls setting up crypto exchange: CEO

  

  Bloomberg Overseas-Chinese Banking Corp (OCBC) is considering whether to set up a crypto exchange as Southeast Asia’s second-largest lender seeks to respond to customer needs, Chief Executive Officer Helen Wong said. “We are looking at it and seriously there are some work being done in the bank,” Wong told Haslinda Amin in a Bloomberg Television interview, when asked whether the ...

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• 22 November

  JPMorgan to reimburse $5,000 to HK bankers for quarantine

  

  Bloomberg JPMorgan Chase & Co is offering to reimburse Hong Kong employees up to $5,000 to compensate for their quarantine stay as the financial hub sticks to its zero-Covid policy. All Hong Kong-based employees who are executive directors and below may claim the amount for a single quarantine stay for personal trips to visit immediate family members, which includes spouses, ...

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