September, 2021

• 20 September

  Used car prices in US on rise, raising inflationary specter

  

  Bloomberg Used car prices, one of the biggest drivers of US inflation this year, rise again in early September on a monthly basis after idling over the summer. The Manheim US Used Vehicle Value Index, a measure of pricing trends, increased 3.6% in the first half of September compared with a month earlier. That puts it on track for the ...

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• 20 September

  Hungary plans multi-part bond sale

  Bloomberg Hungary plans to offer a range of dollar and euro bonds to shore up its budget as it’s facing a potential delay in accessing European Union funds because of a feud with the bloc over democratic values. The country may sell 10-year and 30-year bonds in dollars, as well as seven-year and/or 20-year bonds in euros. Hungary’s debt management ...

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• 20 September

  UK inflation surge prompts bets for sharper rate hikes

  

  Bloomberg UK inflation surged more than expected to the strongest pace in more than nine years, prompting investors to anticipate a sharper increase in interest rates in 2022. Consumer prices jumped 3.2% in August from a year ago, the most since March 2012, Office for National Statistics said. The reading was up from 2% in July and above the highest ...

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• 19 September

  Short-sellers beating day traders in South Korea’s tech crackdown

  

  Bloomberg Short-sellers have driven big losses in the favourite stocks of South Korean retail investors this month, piggybacking on a campaign by local regulators to rein in the power of Kakao Corp and other internet giants. Kakao, the operator of Korea’s most-used messenger app, is the most-shorted stock in September as lawmakers voiced concerns over its market dominance — a ...

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• 19 September

  China defends tech crackdown in meeting with Wall Street chiefs

  

  Bloomberg China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules aren’t aimed at stifling technology companies or private sector. China Securities Regulatory Commission Vice Chairman Fang Xinghai said recent actions were to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security. ...

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• 19 September

  Oil declines on signs of rising Russian exports, dollar gains

  

  Bloomberg Oil declined amid Russia’s plans to boost upcoming overseas oil sales and as the dollar rallied. Futures in New York ended the session nearly 1% lower. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency. “There’s been demand destruction ...

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• 19 September

  Dubai issues 5,885 new licences in August 2021

  

  Dubai / WAM A report by the Business Registration and Licensing sector of Dubai Economy revealed that 5,885 new licenses were issued during August 2021, a growth of 54% compared to the same period in 2020, when 3,829 licenses were issued. The figures reflect the ease of doing business in emirate, and measures taken to ensure business continuity and further ...

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• 19 September

  UAE sends condolences to Algerian president

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a cable of condolences to President Abdelmadjid Tebboune of Algeria, on the death of the country’s former President Abdelaziz Bouteflika. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Mohamed bin Zayed ...

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• 19 September

  Majid Al Futtaim to hire 3,000 Emiratis in response to ‘Nafis’

  

  ABU DHABI / WAM Majid Al Futtaim the leading shopping malls, communities, retail and leisure pioneer across the Middle East, Africa and Asia has announced the expansion of its people development programme that is set to create thousands of career opportunities for Emirati talent across multiple industries in the UAE and beyond in response the UAE government’s federal Nafis programme. ...

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• 19 September

  China applies to join Asian trade deal US abandoned

  

  Bloomberg China applied to join an Asia-Pacific trade pact once pushed by the US as a way to isolate Beijing and solidify American dominance in the region. The country submitted a formal application letter to join the deal, known officially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, according to a statement in Beijing. The treaty was originally envisioned ...

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