October, 2021

• 27 October

  Global banks up pressure on Hong Kong to ease curbs

  

  Bloomberg The finance industry is ratcheting up pressure on Hong Kong to ease its strict quarantine rules and abandon its zero-Covid-19 policy after a survey found almost half of major international banks and asset managers are contemplating to move staff or functions out of the city. In a letter sent over the weekend to Financial Secretary Paul Chan that was ...

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• 27 October

  HKEX suffers profit decline as China crackdown roils market

  

  Bloomberg Hong Kong’s stock exchange (HKEX) reported its second consecutive quarterly profit decline against a backdrop of a widening crackdown by China on a broad range of sectors that roiled markets and triggered delays of major initial public offerings. Dragged down by falling investments, net income at Hong Kong Exchanges & Clearing Ltd fell to HK$3.25 billion ($418 million) in ...

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• 27 October

  Canadian stocks add $191 billion of value in longest rally ever

  

  Bloomberg The Canadian stock market posted its longest streak of gains ever as a rally in commodities pushed the benchmark higher for a 14th straight session. The S&P/TSX Composite Index rose 0.3% to an all-time high. It has added about C$237 billion ($191 billion) in market value during its recent winning streak, according to data compiled by Bloomberg. US oil ...

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• 27 October

  UAE minister, UN deputy chief discuss promoting UAE-UN Partnership

  

  DUBAI / WAM Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, held a meeting with Amina Mohammed, Deputy Secretary-General of the United Nations (UN) and Chair of the United Nations Sustainable Development Group, where they discussed promoting the partnership between the UAE government and the UN in various fields and reviewed issues of common interest. Al Gergawi highlighted that, ...

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• 27 October

  IAEA’s ConvEx-3 ‘Barakah UAE’ exercise kicks off

  ABU DHABI / WAM The UAE on Tuesday kicked off the International Atomic Energy Agency’s ConvEx-3 ‘Barakah UAE’, which will run for two days under the supervision of the IAEA, featuring the participation of more than 75 countries and 12 international organisations. The Barakah Nuclear Power Plant is one of the world’s most advanced nuclear energy plants. The national teams ...

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• 27 October

  Nasdaq Dubai welcomes listing of IsDB’s 1.7b sukuk

  

  Dubai / WAM Dr Zamir Iqbal, Vice President of Finance and Chief Financial Officer of the Islamic Development Bank (IsDB), on Tuesday rang Nasdaq Dubai’s market-opening bell to celebrate the listing of a $1.7 billion Sukuk on the region’s international financial exchange. The listing strengthens the IsDB’s position as the largest supranational Sukuk issuer on Nasdaq Dubai with a total ...

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• 27 October

  UAE, Russia ink agreement to boost space cooperation

  

  DUBAI / WAM The UAE and Russia on Tuesday signed an intergovernmental agreement pledging to promote the use of outer space for peaceful purposes and enhance cooperation between their space agencies in priority areas. Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology and the Chairwomen of the UAE Space Agency, and Dmitry Rogozin, Director-General of the Russian ...

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• 27 October

  Abu Dhabi’s IHC offers AED 359m to buy London-listed Arena Events

  

  ABU DHABI / WAM International Holding Company (IHC) and Arena Events Group, a world-leading events services business listed on the London Stock Exchange, have announced a recommended AED 359 million ($98 million) cash offer at 21 pence per Arena Events Group ordinary share by IHC subsidiary, Theta Bidco Ltd, company created by IHC Industrial Holding LLC and Tasheel Holding Group ...

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• 27 October

  Adnoc, Ewec enter landmark clean energy partnership

  

  ABU DHABI / WAM HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office and Chairman of the Executive Committee of Adnoc’s Board of Directors, has launched a landmark clean energy partnership between the Abu Dhabi National Oil Company (Adnoc) and Emirates Water and Electricity Company (EWEC). ...

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• 27 October

  Mashreq signs pact with Dubai CommerCity

  DUBAI / WAM Dubai CommerCity, the first and leading e-commerce free zone in the region, has signed a strategic Memorandum of Understanding (MoU) with Mashreq, one of the leading financial institutions in the UAE. The MoU aims to offer Small to Medium Enterprises (SME) with the ideal ecosystem for setting up their e-commerce business, through providing them with access to ...

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