People walk past a bank in Rio de Janeiro, Brazil. Reuters
Brazil’s central bank (CB) delivered its first interest rate hike in nearly six years on Wednesday, a larger-than-expected 75 basis point increase to 2.75%, and flagged a similar move in May to fight inflation despite rising economic uncertainty.
Profits in Russia’s banking sector rose to 70 billion roubles ($975 million) in June from just 500 million roubles in May, which included some weeks of lockdown due to the coronavirus pandemic, the central bank said in a report on Friday.
The Russian Central Bank plans to resume its purchases of foreign currency for state reserves that are pegged to oil prices in 2022, after pausing them this year amid the rouble crash, Governor Elvira Nabiullina said.
Most emerging market (EM) currencies made small moves on Monday as surging number of coronavirus cases kept risk appetite muted ahead of a slew of emerging market central bank meetings this week, with focus also on a European recovery fund plan.
Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, said that ALTÉRRA, the catalytic climate vehicle announced on Friday, reflects the COP Presidency’s Action Agenda and the UAE’s efforts to make climate finance available, accessible and affordable.
India’s Nifty reached historic highs on Friday, with the mid-small cap segment also on the rise, fuelled by faster-than-expected economic growth in the September quarter and increased optimism regarding the global interest rate outlook, Shrey Jain, Founder and CEO SAS Online, said.
Abu Dhabi Future Energy Company – Masdar, the UAE’s clean energy powerhouse, is part of an £11billion investment into the UK’s renewable energy sector and is purchasing a 49 per cent stake in RWE’s 3 gigawatt (GW) Dogger Bank South (DBS) projects - which form one of the world’s largest planned
Scotland kicked off its COP28 activity with a St Andrew’s Day Reception following the first day of the conference. The First Minister, Humza Yousaf, joined 21 Scottish businesses and organisations in the food and beverage sector at the VIP business event, who showcased their products, with support from