October, 2021

• 19 October

  MicroStrategy’s Bitcoin bet doubles to $6b as price soars

  Bloomberg MicroStrategy Inc appears to be one of the bigger beneficiaries from the euphoria surrounding the likely launch of Bitcoin ETFs, with the overall value of the company’s holding of the cryptocurrency doubling. The enterprise software firm held approximately 114,042 Bitcoin as of September 12, acquired at an aggregate purchase price of $3.16 billion and an average price of $27,713 ...

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• 19 October

  Barclays trading boss saw $6b London Whale coming

  

  Bloomberg As an example of why investment banks should listen to their risk managers, CS Venkatakrishnan’s experience at JPMorgan Chase & Co is hard to top. Back in 2012, just weeks into a senior risk job at the Wall Street giant, his team flagged the potential for $6.3 billion of losses from a murky derivatives trade in London. The analysis ...

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• 19 October

  Global bonds, stocks fall as inflation fears mount

  

  Bloomberg Global bond yields rose and most stocks fell on Monday as surging energy prices cemented worries about inflation and reinforced bets on policy tightening. Consumer and retail shares led declines in Europe’s Stoxx 600, with luxury companies slipping after publication of a Chinese presidential speech advancing tax legislation. US futures fell after the S&P 500 chalked its best week ...

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• 19 October

  China’s yields jump to three-month high as easing bets dwindle

  

  Bloomberg China’s 10-year bond yield rose to the highest in three months as comments from central bank officials prompted traders to roll back some policy easing bets. The yield on China’s 10-year bond rose as high as 3.05%, crossing the 3% level for the first time since early July. Bond futures fell by the most in two months. Sun Guofeng, ...

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• 18 October

  UAE stresses importance of peaceful coexistence and tolerance for peace

  

  NEW YORK / WAM The UAE underscored the importance of promoting and embracing peaceful co-existence and tolerance to advance societies enriched by diversity and peace at the UN Security Council. In a statement submitted for the body’s open debate on peacebuilding and sustaining peace presided over by Kenya’s President Uhuru Kenyatta, the UAE outlined how it has launched initiatives aimed ...

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• 18 October

  FTSE adds Adnoc Drilling to three indices as growth plan approved

  

  ABU DHABI / WAM Adnoc Drilling Company on Sunday announced continued confidence in the key business growth and budget resolutions at the inaugural meeting of the newly formed Adnoc Drilling Board, and welcomed the inclusion of the Company in three globally-recognised Indices: FTSE Emerging Index, FTSE Global Large Cap Index and FTSE All-World Index. This follows the company’s recent highly ...

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• 18 October

  UAE’s daily coronavirus cases dip below 100

  ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 317,254 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. 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. MoHAP announced 99 new ...

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• 18 October

  Supply chain chaos, rising costs to hit Europe profits

  

  Bloomberg Cost pressures, supply-chain chaos and a reopening letdown are set to plague Europe’s third-quarter earnings season, setting investors up for more disappointment than elation. While strong numbers from behemoths like LVMH and SAP SE reassured European stock investors last week, further good news may be needed to keep the rally alive. Rising inflation and a stalling global recovery pose ...

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• 18 October

  Etisalat showcases ‘future of mobility’ at Gitex Global 2021

  

  DUBAI / WAM Etisalat is once again putting jaw-dropping demonstrations at its stand during this year’s Gitex, offering a glimpse into the future of mobility with the transformative power of 5G and futuristic technologies. The future of transport — as witnessed at Etisalat’s stand — will rely on the 5G network for its high latency and the communication between sensors ...

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• 18 October

  RTA to showcase ‘AI in cycling tracks’ at Gitex

  DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) is set to host a live demonstration of the ‘Using AI in Cycling Tracks’ solution at its stand at Gitex Technology Week 2021, which is a proof of concept (PoC) developed by EVOTEQ, a digital transformation solutions provider. This revolutionary solution aims to ensure safer roads for cyclists by deploying digital ...

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