October, 2021

• 20 October

  UniCredit CEO wants to hire more investment bankers

  

  Bloomberg UniCredit SpA Chief Executive Officer Andrea Orcel intends to hire as many as 50 investment bankers to capture more business from medium-sized corporate clients, pushing the lender further into a hotly-contested market. The bank is seeking staff to strengthen advisory services and boost its offering of investment banking products to companies across its European network, people with knowledge of ...

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• 20 October

  BMO’s Barclay sees capital markets’ ‘robust phase nears end’

  Bloomberg The head of Bank of Montreal’s (BMO) investment-banking and markets business said capital markets are at the “end of the robust phase” that powered them through the pandemic and are shifting towards a more uncertain future. Capital markets have been in a boom period marked by heightened merger activity, strong equity markets, low interest rates and subdued fears among ...

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• 20 October

  HSBC, Citigroup rush in to catch China cross-border wealth

  Bloomberg HSBC Holdings Plc, Citigroup Inc and other lenders are moving rapidly to tap a new program that will allow investments between Hong Kong and mega-cities in southern China. HSBC has put up 60 centres in the Chinese mainland and Hong Kong after the long-awaited program, called Wealth Management Connect, was given the green-light last month as banks received final ...

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• 20 October

  US futures, European stocks rise on earnings; dollar dips

  

  Bloomberg US futures rose with European stocks Tuesday as the prospect of solid corporate earnings helped counter concerns stemming from elevated inflation. Treasuries were steady and the dollar declined. Travelers Cos. rose in pre-market trading, while Johnson & Johnson fluctuated after reporting. Technology shares rallied and crypto stocks were in the spotlight as Bitcoin continued its climb toward all-time highs ...

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• 20 October

  Bitcoin pushes towards record before debut of futures-based ETF

  

  Bloomberg Bitcoin continued its climb towards all-time highs, bolstered by optimism over the upcoming launch of the first Bitcoin futures exchange-traded fund in the US by asset manager ProShares. The largest cryptocurrency rose as much as 2.6% on Tuesday to trade around $62,961. It’s more than doubled this year in volatile trading. The April record is just under $64,870. ProShares ...

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• 20 October

  Brazil markets sink on fears social aid to break fiscal rule

  Bloomberg Brazilian assets tumbled on Tuesday, leading losses across the globe, on reports the government will breach the country’s spending cap rule to finance a new social program, hurting the fiscal position of Latin America’s largest economy. The new aid program to the poorest, dubbed Auxilio Brasil, will give handouts of as much as 400 reais ($72) per individual, according ...

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• 19 October

  Deal signed to develop crypto asset, blockchain hub in Dubai

  

  DUBAI / WAM Dubai World Trade Centre Free Zone and CNMENA Holding BVI — the parent company of CoinMENA, the Sharia-compliant digital asset exchange company licensed and regulated by the Central Bank of Bahrain — have entered into a Memorandum of Understanding (MoU) to develop a Crypto Asset and Blockchain Hub at Dubai World Trade Centre (DWTC). The agreement was ...

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• 19 October

  Oil touches multiyear highs as energy crunch intensifies

  

  Bloomberg Oil surged to multiyear highs, spurred by an energy-supply crunch as winter approaches. Global benchmark Brent futures earlier rose above $86 a barrel, reaching the highest intraday level since 2018, as Russia opted to keep a lid on gas flows to Europe. West Texas Intermediate crude neared a seven-year high. A shortage of natural gas is creating extra demand ...

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• 19 October

  UAE-UK new action plan to boost economic partnership

  

  DUBAI / WAM The governments of the UAE and the United Kingdom (UK) have agreed on a new action plan to strengthen their economic ties across a wide range of vital and future sectors, including clean energy, research and development, innovation, infrastructure, tourism, food security, new technologies, AI, space and the Fourth Industrial Revolution. The two sides also agreed on ...

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• 19 October

  UAE’s new federal budget will drive development journey

  ABU DHABI / WAM The UAE’s ministers of economy, education and community development stressed that the UAE’s new five-year federal budget underscores its approach and the vision of the UAE’s leadership aimed at driving development and achieving prosperity and wellbeing. The UAE’s budget will help usher in an era of further achievements, excellence and influence to achieve its UAE Centennial ...

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