UAE led international humanitarian efforts as it continued long history of financial support and solidarity
Asia Pacific
Donald Trump
Donald Trump to block Nippon Steel’s takeover of US Steel
Nippon Steel hopes to close the deal before Trump retakes the White House on January 20, despite opposition from President Joe Biden and a powerful US labour union
Dubai events
Dubai set to host 2nd edition of Japan Kyoto trade exhibition in Feb
The 3-day exhibition will showcase a diverse range of Japanese industries, from traditional crafts to cutting-edge technologies
abu dhabi airport
Etihad announces major expansion with 10 new destinations coming in 2025
Etihad adds 10 destinations to its network in just one day as part of major expansion
China
Abu Dhabi’s Masdar and China’s Silk Road Fund team up for $2.8bn
Abu Dhabi’s Masdar working with China’s Silk Road Fund on renewable energy projects
Agricultural Bank of China
Nasdaq Dubai sees listing of $2bn of bonds from China
China’s Ministry of Finance lists two bonds worth combined $2bn on Nasdaq Dubai
ACWA Power
Saudi and South Korean firms sign $4bn power deal
Saudi power and electricity companies team up with Korea’s KEPCO to produce sustainable energy
China
Morgan Stanley, Goldman Sachs downgrade Chinese equities as growth slows
The latest calls represent a rapid turnaround from their upbeat stance on the market following Beijing’s stimulus blitz in September
China
MSCI emerging markets index: India loses top spot to China due to record foreign outflows
China’s weight in the index rose to 24.72% in October from 21.58% in August, driven by a sharp rally in Chinese equities
bond issuance
China mandates investment banks for $2bn USD bond issuance in Saudi Arabia: Report
China plans to issue up to $2 billion in senior, unsecured fixed-rate bonds in Saudi Arabia
Airline
Cathay Pacific launches direct flights between Hong Kong and Riyadh
The new flight services will enable connecting more customers from the Middle East to Hong Kong, the Chinese Mainland and beyond, the airline said
Japan
Saudi Arabia’s PIF signs $51bn of deals with Japanese financiers
PIF signs $51bn of deals as Saudi Arabia and Japan strengthen ties
BYD
Chinese EV-maker BYD’s quarterly revenue races past Tesla for first time
Revenue soars 24% year-on-year to $28.2 billion; Tesla sales were $25.2 billion for the same period but more profitable
AD Ports Group
Vingroup, AD Ports Group sign MoU to explore developing ports, logistics sectors in Vietnam
AD Ports Group is to manage the operational aspects of the projects, while connecting with international customers to position Vietnam as an essential part of the global supply chain
India
India’s JSW Group teams up with South Korea’s Posco for major steel plant investment
The MoU was signed at JSW’s headquarters in Mumbai
election
Japan’s government in flux after election gives no party majority
The uncertainty sent the yen currency to a three-month low as investors and analysts prepared for days, or possibly weeks, of political wrangling to form a government
China
China’s new mineral export rules put global chip industry on high alert: Report
China produces almost all of the world’s supply of these materials