TimeLine Layout

November, 2023

  • 26 November

    Nigeria central bank plans sweeping changes to get its grip on inflation

    BLOOMBERG Nigeria’s central bank pledged major changes to get a grip on inflation and steady the country’s battered currency, signaling tighter monetary policy ahead. The Central Bank of Nigeria will switch to inflation targeting instead of trying to control money supply in its battle to slow price increases, Governor Olayemi Cardoso said in a speech to bankers. The central bank ...

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  • 26 November

    Zara owner poised for record close as earnings optimism grows

    BLOOMBERG Inditex SA shares are headed for the highest close since the retailer’s 2001 initial public offering as analysts turn increasingly optimistic ahead of third-quarter results. The Zara owner gained as much as 1.3% to €36.81 in Madrid trading last week, the highest intraday price since June 2017. The retailer’s fast-fashion business model and online presence have helped the shares ...

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  • 26 November

    Black Friday, Cyber Monday spending projected to hit new high

    BLOOMBERG Consumers plan to spend an average of $567 during Black Friday and Cyber Monday shopping events, up 13% from last year, as they seek out the best deals while facing economic pressures such as higher prices and soaring interest rates. The result is a new record for Deloitte’s annual Black Friday-Cyber Monday survey. About 84% of shoppers feel confident ...

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  • 26 November

    Black Friday shopping behaviour in 2023 may help predict recession

    BLOOMBERG Richer Americans are curtailing their spending ahead of Black Friday, a worrisome sign for an economy that has so far depended on the US consumer to stave off a recession. In the three months ahead of the all-important holiday shopping season, a group of retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — ...

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  • 26 November

    DBS seeks private credit foothold by originating deals

    BLOOMBERG DBS Group Holdings Ltd is looking to cash in on the boom in private credit by originating and distributing deals, according to the global head of fixed income at Southeast Asia’s largest bank. While the company is looking to pair up clients with private credit providers, it will steer clear of doing direct lending transactions itself to avoid conflicts ...

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  • 26 November

    Li Shufu’s Geely raises $350 million selling part of its stake in Volvo Car

    BLOOMBERG Chinese billionaire Li Shufu’s Zhejiang Geely Holding Group Co is raising around $350 million selling part of its stake in Volvo Car AB, responding to investor concerns about the automaker’s limited free float. Geely, which owns a web of automotive interests in Europe, offered approximately 100 million shares in the company at 37 kronor ($3.49) apiece, according to a ...

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  • 26 November

    EU is bystander in Musk’s X Drama as new powers yet to kick in

    BLOOMBERG The European Union (EU) enacted a slew of new rules earlier this year to fight the kind of hate speech and disinformation that officials say is rife on Elon Musk’s X platform, but the bloc isn’t able to enforce them yet. The EU’s main tool to clamp down on objectionable content, the Digital Services Act, went into effect on ...

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  • 26 November

    DFF’s Dubai Future Forum begins on November 27

    DUBAI / WAM Dubai Future Forum, the world’s largest gathering of futurists, is set to kick off on November 27 and run until November 28. Organised by Dubai Future Foundation (DFF), the forum takes place at the Museum of the Future under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of ...

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  • 26 November

    Added unveils ‘SME Finance Facilitator’ to boost growth

    ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added) has launched the “SME Finance Facilitator” programme, in partnership with the Emirates Classification Society “Tasneef” and support of Abu Dhabi Chamber of Commerce and Industry (ADCCI), and leading banks, to improve SMEs access to financial services and enable them to grow further and play a greater role in ...

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  • 26 November

    NYUAD hosts Climate Action and Health event ahead of COP28

    ABU DHABI / WAM The Institute at NYU Abu Dhabi (NYUAD) will host a two-day Climate Action and Health Conference from November 27-28 as part of the university’s wide-ranging contribution to sustainability in the lead up to COP28. Featuring leading global experts, the event is organised in association with the Policy Committee of the International Society for Environmental Epidemiology, and ...

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