November, 2021

• 22 November

  Scotiabank plans phased return to office for HQ staff

  

  Bloomberg Bank of Nova Scotia plans to start a phased return-to-office plan for headquarters employees who are still working remotely on January 17, marking the first of Canada’s largest banks to set a specific date for a broad return. The return will be staggered for different groups, and the majority of head-office employees will be working in a hybrid model, ...

  Read More »
• 22 November

  Kiwi set to recover from sharp selloff

  Bloomberg The New Zealand dollar looks poised to recover from its sharp selloff this month, with technical support, a yield advantage over the US and hedge-fund bets pointing to gains in the kiwi ahead of a pivotal central bank decision. A 50 basis points hike by the Reserve Bank of New Zealand could amplify gains, while a 25 basis points ...

  Read More »
• 22 November

  Bailey justifies BOE stance, says inflation risks are two-sided

  

  Bloomberg UK economic activity is slowing and supply-side issues are stoking prices, underlining the “two-sided” debate over inflation, Bank of England (BOE) Governor Andrew Bailey said. Reinforcing comments from Chief Economist Huw Pill, Bailey said it’s not the bank’s job to fix supply chain issues that have hampered economies around the world. “The proximate cause of many of these inflation ...

  Read More »
• 22 November

  US futures jump as China bets calm cautious mood

  

  Bloomberg US equity futures rise as Chinese signals for possible easing measures outweighed concern over virus curbs in Europe. European stocks were boosted by deal activity. December contracts on the S&P 500 and Nasdaq 100 Index rise 0.3% each after a cautious week that saw the benchmark gauge underperform the technology measure. Telecom Italia SpA jumped as much as 30% ...

  Read More »
• 22 November

  JD.com, NetEase to get Hong Kong liquidity boost from MSCI shift

  

  Bloomberg MSCI Inc’s decision to start tracking internet giants JD.com Inc and NetEase Inc. via their Hong Kong shares rather than American Depositary Receipts may reinforce a gradual shift in liquidity away from the US for Chinese stocks. The move comes amid heightened tension between the US and China over listing rules that is seeing some firms favour security at ...

  Read More »
• 22 November

  Saudi Arabia’s Tadawul looks to raise AED3.67b from its IPO

  

  Bloomberg Saudi Tadawul Group Holding is seeking to raise as much as AED3.67 billion ($1 billion) after setting the price range for an initial public offering (IPO) at 95 riyals ($25.32) to 105 riyals per share, the company said on Sunday. The Riyadh-based bourse, on which oil giant Saudi Aramco trades, plans to sell a 30% stake, or 36 million ...

  Read More »
• 22 November

  UAE wins bid to host Icom General Conference 2025

  DUBAI / WAM The UAE has won the bid to host the 27th International Council of Museums (Icom) General Conference 2025 in Dubai under the theme ‘The Future of Museums in Rapidly Changing Communities’. The new global achievement is set to further strengthen the UAE’s leading position as the capital of creativity and innovation across various fields. The result of ...

  Read More »
• 22 November

  VentureSouq launches $50 million fintech fund

  

  Abu Dhabi / WAM GCC-based venture capital firm VentureSouq (VSQ) announced the launch of its Mena fintech fund, the region’s first sector specific fund focused on FinTech across the Middle East & North Africa (Mena) region and Pakistan. The $50 million VentureSouq fund invests in early-stage fintech and SaaS companies and focuses on key subsectors including payments infrastructure, alternative credit, ...

  Read More »
• 22 November

  Adio hosts event for UK investors seeking expansion to Abu Dhabi

  

  ABU DHABI / WAM The Abu Dhabi Investment Office (Adio) welcomed more than 240 UK business leaders, entrepreneurs and innovators to the inaugural event organised by its London office to discuss expansion opportunities to the United Arab Emirates (UAE) capital. The main event took place virtually and featured speeches and panel discussions on advantages of investing in emirate’s enabling business ...

  Read More »
• 22 November

  Empower records 49% growth in registrations

  

  DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) said it has recorded a remarkable growth in the number of customers from different parts of Dubai to obtain company’s high-quality environmentally-friendly district cooling services. During the first nine months of this year, Empower has witnessed a growth of 49% in the number of new registered individuals and companies, compared to ...

  Read More »