September, 2021

• 29 September

  Thailand holds rate on rebound optimism as restrictions ease

  

  Bloomberg Thailand’s central bank held its key interest rate unchanged amid optimism that an economic rebound will hold, as Southeast Asia’s second largest economy loosens growth-stifling restrictions and virus cases ease. The Bank of Thailand voted unanimously on Wednesday to hold one-day repurchase rate at a record-low 0.5% for an 11th straight meeting, as predicted by 19 of 22 economists ...

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• 29 September

  JPMorgan invests $60mn in minority-led lenders

  Bloomberg JPMorgan Chase & Co invested in 10 banks with diverse leadership, acquiring stakes with a total value of more than $60 million, and is giving their customers free access to thousands of ATMs as part of its effort to help address the racial wealth gap. The “investments and commitments” JPMorgan has made in minority deposit institutions, known as MDIs, ...

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• 29 September

  Deutsche Bank to return 5000 staff to NYC offices

  

  Bloomberg Deutsche Bank AG plans to return 5,000 workers to New York City over the next six months. Many of the returning staff will still have the option of more flexible working arrangements, Christiana Riley, chief executive officer of Deutsche Bank Americas, said in an interview from the Frankfurt-based company’s new US headquarters. “The demise of New York is vastly ...

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• 29 September

  Scotiabank tests Canada style loss-absorbing note sale in US

  Bloomberg Bank of Nova Scotia is set to become Canada’s first bank to sell a junior bond known as limited recourse capital notes in a currency other than loonies. Toronto-based Scotiabank is reaching out to US dollar-based investors before deciding to go ahead with the deal. In June, the bank sold LRCNs in the Canadian dollar corporate bond market. Canadian ...

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• 29 September

  Brazil’s central bank assesses costs, benefits of faster hikes

  

  Bloomberg Brazil’s central bank assessed the costs and benefits of bigger interest rate hikes but concluded that its current pace of monetary tightening would be sufficient to bring inflation back to target. The current adjustment has already left interest rates in a restrictive level and uncertainties related to the pandemic justify “accumulating more information about the state of the economy ...

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• 29 September

  Highest flying tech stocks fall hardest in rate-fuelled rout

  

  Bloomberg Think the selloff in technology stocks has been bad? If US Treasury yields keep rising, it’s probably going to get worse. That’s the widespread thinking on Wall Street as the surge in yields batters growth stocks that have been trading at lofty levels. That’s helped fuel a 2.9% drop in the Nasdaq 100 Stock Index on Tuesday, led by ...

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• 29 September

  Gold edges up from seven week low as yields retreat

  

  Bloomberg Gold edged up from the lowest in almost seven weeks as Treasury yields eased following dovish commentary from Federal Reserve Chair Jerome Powell. The benchmark 10-year US yield declined after touching the highest since June on Tuesday, boosting appeal of non-interest bearing bullion. The dollar steadied at near the highest since November. During a Senate Banking Committee hearing, Powell ...

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• 29 September

  Opec sees oil demand rebound before plateauing post-2035

  

  Bloomberg Opec sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. Global fuel consumption will fully recover from its pandemic slump by 2023, and will keep growing until it hits a plateau shortly after 2035, the Organization of Petroleum Exporting Countries (Opec) said in ...

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• 29 September

  Sheikh Khalifa appoints new chief of geographic data centre

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a federal decree appointing Hamed Khamis Saif Al Kaabi as Director-General of the Federal Geographic Information Centre (FGIC). Al Kaabi brings over 18 years of experience across several positions in geospatial technology, mapping, surveying, geographic information systems (GIS) and remote sensing, besides his knowledge in ...

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• 29 September

  Sharjah generated 5.4bn kWh in H1 2021: Sewa

  

  SHARJAH / WAM Energy generated in the Emirate of Sharjah amounted to 5.4 billion kilowatt-hours during the first half of the year, according to latest statistics by the Sharjah Electricity, Water and Gas Authority (Sewa). Figures indicated that the residential sector in the Emirate of Sharjah is the most in consuming electricity at 41.19 percent, and the commercial sector is ...

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