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Toll-road operator Salik jumps 20% on market debut

DUBAI, Sept 29 (Reuters) – Dubai toll-road operator Salik (SALIK.DU) rose 20% above its listing price on its market debut on Thursday in a sign that investors still have appetite for local flotations despite skittish global markets. The company, which has 3.6 million vehicles registered on its system, raised 3,735 billion dirhams ($1.02 billion) by …

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US mortgage interest rates jump to 6.52%, highest since mid-2008

Sept 28 (Reuters) – The average interest rate on the most popular US home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising mortgage rates are weighing on the interest-rate-sensitive housing sector as Federal Reserve pushes on with aggressively lifting borrowing costs to high …

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Wild UK market swings ‘opportunity of a lifetime’ for hedge funds

Sept 28 (Reuters) – The wild swings seen in British markets provided an “opportunity of a lifetime” to trade currencies and bonds, hedge funds and traders said on Wednesday. Sterling and British gilts were whipsawed after the Bank of England stepped into stem a rout in bond markets triggered by Friday’s mini-budget. The BoE said …

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Amazon.com unveils device that tracks breath while sleeping

Sept 28 (Reuters) – Amazon.com Inc on Wednesday announced a contactless gadget that can monitor people’s sleep, along with updates to its lineup of voice-controlled devices and e-readers. The online retailer said its $139.99 sleep gadget, known as Halo Rise, tracks room temperature, humidity and light, plus the breathing patterns of the person closest to …

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Stocks pull off 2020 lows, Bank of England steps in to calm UK bond market

Stocks pare some losses, UK gilts roar higher Bank of England says will step into the bond market Sterling whips higher in volatile trading LONDON, Sept 28 (Reuters) – Global equities pulled off two-year lows on Wednesday, after the Bank of England said it would step into the bond market to stem a damaging rise …

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Apple drops plan to boost iPhone production as demand falters-Bloomberg

Sept 27 (Reuters) – Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family …

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Saudi NEOM’s tech unit rebrands, invests $1 bln in 2022 -CEO

RIYADH, Sept 27 (Reuters) – NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday. Joseph Bradley said the company is also changing its name to Tonomus as NEOM …

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Options activity hints US stock market has not reached bottom- Barclays

NEW YORK, Sept 27 (Reuters) – Options trading activity does not yet hint at a bottom in US stocks, Barclays derivatives strategists said on Tuesday, rebutting speculation among some investors that a record surge in put option trading volumes suggested the market may be nearing a reversal. With the S&P 500 (.SPX) marking a fresh …

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Qatar Investment Authority launches new market making initiative

An electronic board displaying data is seen at the Doha Stock Exchange in Doha, Qatar January 6, 2021. REUTERS/Ibraheem Al Omari/File Photo Register now for FREE unlimited access to Reuters.com Register DUBAI, Sept 27 (Reuters) – The Qatar Investment Authority (QIA) tweeted on Tuesday that it launched a new market making initiative to boost liquidity …

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