October, 2021

• 11 October

  Credit Suisse report into Greensill hit by delays

  

  Bloomberg Credit Suisse Group AG is delaying the publication of findings from a report into the collapse of a $10 billion group of investment funds that it ran together with Greensill Capital. The bank had initially hoped to present key findings along with its third-quarter results, but will now take longer as executives focus on the implications for their ability ...

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• 11 October

  UniCredit resolves dispute on swap deals with Sicily

  Bloomberg UniCredit has agreed to terminate a swap transaction with authorities in Sicily to end a dispute over deals entered into in 2005 and 2006. The transactions served to hedge Sicily’s long-term debt obligations. Both sides won’t be making any further comment on the resolution of the dispute, the Italian lender said in a statement. Disputes between a number banks ...

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• 11 October

  Deutsche Bank plans new hires in Nordic region

  Bloomberg Deutsche Bank AG is targeting more business in the Nordic market by utilizing its balance sheet and bringing in additional bankers, according to the region’s chief executive officer. “We are selectively hiring, but also putting capital and balance sheet behind the right type of opportunities,” Jan Olsson said in a phone interview from London. The Nordic region “really stands ...

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• 11 October

  Yen drops to lowest since 2018 as Fed, BOJ policies diverge

  

  Bloomberg The yen dropped to a three-year low against the dollar, with analysts forecasting more weakness ahead as the nation’s yield differentials widen. The currency slipped as much as 0.5% to 112.75 per dollar on Monday, the weakest since December 2018, with Sumitomo Mitsui Banking Corp and Credit Agricole CIB predicting the yen could drop all the way to 115, ...

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• 11 October

  Stocks decline as surging oil price unsettles traders

  

  Bloomberg US futures dipped with European stocks as the highest oil prices since 2014 stirred fears that a spreading energy crunch will derail the global pandemic recovery. West Texas Intermediate crude rises past $80 a barrel and China’s coal futures reached a record as flooding shuttered mines. European equities were modestly lower, with declines led by travel and property firms. ...

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• 11 October

  World’s energy chaos turns Russia into top emerging-market pick

  

  Bloomberg Surging energy prices are kindling bullish bets on developing-nation exporters, with Russia emerging as traders’ favourite investment destination. Russia’s ruble has gained more than any other emerging-market currency this month, bolstered by the prospect of higher oil revenues, while the nation’s stocks outperformed as a broad gauge of developing equities sank. It marks an abrupt change of pace for ...

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• 11 October

  Expo 2020 Dubai embodies GCC aspirations for a prosperous future

  DUBAI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has affirmed that Expo 2020 Dubai embodies the aspirations of the GCC countries towards a promising and prosperous future, and “reflects a history of joint Gulf action with an inspiring and rich path that led us to achieve qualitative achievements across all ...

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• 11 October

  Maryam Al Suwaidi becomes first woman to lead SCA

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a Federal Decree appointing Dr Maryam Buti Al Suwaidi, as the CEO of the Securities and Commodities Authority (SCA) at the grade of Under-Secretary. Dr Maryam Al Suwaidi is the first woman to occupy this position in the history of the Securities and Commodities Authority. ...

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• 11 October

  Dubai launches new PPP projects worth AED25bn

  

  Dubai / WAM In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform Dubai into a vital player in global economic development and one of the smartest and happiest cities in the world, the Government of Dubai’s Department of Finance (DoF) on Sunday announced ...

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• 11 October

  Abu Dhabi, Malta to boost trade ties

  

  ABU DHABI / WAM Abdullah Mohamed Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry, discussed with Maria Camilleri Calleja, Malta’s Ambassador to the UAE, the prospects of expanding economic cooperation between businesses in Abu Dhabi and Malta. This came during a meeting held at the Chamber’s headquarters in Abu Dhabi, in the presence of Mohamed Helal Al ...

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