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  Bloomberg A wide gap has emerged between Nigeria’s official and parallel market exchange rates of the naira, the widest since 2016, as central bank failure to meet increasing dollar demand puts pressure on the currency. The local currency unit weakened to 715 naira against the dollar in the unauthorised parallel market, according to Umar Salisu, a bureau de change …

  Bloomberg Further Swiss National Bank interest rate hikes can’t be excluded, central bank chief Thomas Jordan said, stressing his determination after his institution’s latest move fell short of market expectations. Although inflation in Switzerland is lower than elsewhere, “in this country, too, it has still increased much more than was generally expected”, Jordan said at the University of Lucerne, …

  Bloomberg The European Central Bank (ECB) will raise borrowing costs next month by at least a half-point as inflation pressures worsen, according to Governing Council member Gediminas Simkus. “Based on data I see now, the inflationary trends are intensifying,” the Lithuanian central bank chief told reporters on Monday in Vilnius. “There are a few options on the table” for …

  Bloomberg The Reserve Bank of Australia (RBA) is working to identify business models and uses for a central bank digital currency, or eAUD, and is likely to conduct a pilot early next year. The project, which began in July, will help “further understanding of some of the technological, legal and regulatory considerations associated with a CBDC,” the RBA and …

  Bloomberg China Construction Bank Corp (CCB) will set up a 30 billion yuan ($4.2 billion) fund to buy properties from developers, as policy makers beef up efforts to contain a real estate crisis that’s weighing on the economy. The fund will “invest in existing assets” of real estate companies and renovate the properties into rental housing, the lender said …

  Bloomberg Global risk assets extended their selloff on Monday as fears of faster inflation and global recession continued to rise. UK markets were in focus as the pound crashed to an all-time low and bond yields surged to the highest in more than a decade, sparking talk of emergency action by the Bank of England. The market mayhem unleashed …

  Bloomberg Wild gyrations in markets have left cryptocurrencies duelling with the dollar for the title of top-performing asset this quarter. The MVIS CryptoCompare Digital Assets 100 Index has added 7.3% since the end of June, whereas stocks, bonds, commodities and gold suffered losses. The Bloomberg Dollar Spot Index is up by a similar magnitude over the period, reaching a …

Bloomberg Nasa is standing down from its Artemis I mission to the moon next week, as a tropical storm off the coast of South America creeps towards Florida and the agency’s launch site for the Space Launch System rocket. The US space agency said it will decide whether to roll the rocket and spacecraft back from the launch pad to …

  Bloomberg JetBlue Airways Corp baggage handlers and other airport ground workers are looking to gain union representation, potentially following pilots and flight attendants in joining an organised labor group at the carrier. The International Association of Machinists and Aerospace Workers (IAM) said it will file an application with the National Mediation Board after a sufficient number of the 3,000 …

  Bloomberg All Nippon Airways will increase international flights and cabin staff numbers to meet an anticipated jump in demand when Japan abolishes Covid-19 border controls next month. “We’ve long been waiting for the easing of restrictions,” Chief Executive Officer Shinichi Inoue told reporters at Haneda Airport in Tokyo on Friday. “We want to welcome visitors from overseas with increased …