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According to the latest shareholding structure, the National Commercial Bank of the UAE has sufficient room for foreign ownership in the bank, allowing it to hold at least 51% of the shares.On December 31, the China Securities Regulatory Commission (CSRC) revised and issued the "Regulations on the Management of Sales Fees for Publicly Offered Securities Investment Funds." The regulations stipulate that for equity funds and mixed funds, the sales service fee should not exceed 0.4% of the funds assets per year; for index funds and bond funds, the sales service fee should not exceed 0.2% of the funds assets per year; for money market funds, the sales service fee should not exceed 0.15% of the funds assets per year; for other funds, the fee standards can be agreed upon with reference to the above fee levels. Except for money market funds and other funds approved by the CSRC, sales service fees shall not be charged to fund units held by investors for more than one year.On December 31, the General Office of the Shanghai Municipal Peoples Government issued the "Interim Measures for the Management of Flight Safety of Civil Unmanned Aerial Vehicles in Shanghai." The measures clarify that owners and users of civil unmanned aerial vehicles must register their information under their real names in accordance with the relevant provisions of the "Interim Regulations on the Management of Unmanned Aerial Vehicle Flights" and the "Shanghai Municipality Implementation Measures of the Anti-Terrorism Law of the Peoples Republic of China." According to the regulations, the use of civil unmanned aerial vehicles for commercial flight activities, as well as the use of small, medium, and large civil unmanned aerial vehicles for non-commercial flight activities, must be insured with liability insurance in accordance with the law.On December 31, Li Qiang chaired an executive meeting of the State Council, which reviewed and approved the "Draft Amendments to the Implementation Regulations of the Drug Administration Law of the Peoples Republic of China." The meeting pointed out that timely revisions to drug administration and supervision laws and regulations in accordance with changing circumstances are of great significance for ensuring the safety of medication for the public and promoting the healthy and orderly development of the pharmaceutical industry. It is necessary to improve the drug research and registration system, accelerate the review and approval of breakthrough therapeutics, and continuously stimulate the vitality of industrial innovation. It is also crucial to strengthen quality supervision throughout the entire supply chain and process, and severely crack down on illegal and irregular activities in the pharmaceutical field.December 31st - The US dollar is poised for its biggest annual drop in eight years, with investors saying it could fall further if the next Federal Reserve chairman chooses to cut interest rates as expected. Following its plunge after Trump announced a series of tariffs in April, the dollar faces continued pressure as the government actively pushes for the appointment of a dovish Fed chairman next year. Nomura Securities currency strategist Yusuke Miyairi stated, "The biggest factor affecting the dollar in the first quarter will be the Federal Reserve. This isnt just about the January and March meetings, but about who will be the Fed chairman after Powells term ends."

0.8450 is being reached by EUR/GBP as the prospect of a UK recession looms

Daniel Rogers

Aug 05, 2022 14:46

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Following a huge upward rise from 0.8360 on Thursday, the EUR/GBP pair has subsequently turned sideways around 0.8430 in the Tokyo session. After the Bank of England (BOE) hiked interest rates by 50 basis points, the cross displayed a significant upward rise (bps) (bps). The BOE lifted interest rates by 50 basis points in succession, bringing them to 1.75 percent.

 

The investing community is aware that UK household earnings have been unsteady during the preceding few months. In addition, the economy's inflation rate is fast expanding. The inflation rate was 9.4 percent prior. The recent statement by BOE Governor Andrew Bailey that price increases might exceed 13 percent has sent shockwaves across the market.

 

The runaway inflation is now escalating, leaving the BOE with very little flexibility to tighten its monetary policy. The BOE is in poor shape as a result of the dismal economic data and the continuing political upheaval following the departure of UK Prime Minister Boris Johnson. A recession in the UK economy is extremely probable in the case that the inflation rate is close to 13 percent.

 

German manufacturing order numbers for the Eurozone have decreased by 0.4 percent against an anticipated 0.8 percent decline and a prior monthly contraction of 0.2 percent. Falling orders from factories indicate sluggish demand in Germany as a whole. It is vital to remember that Germany is a key element of the European Union (EU), and that economic data from Germany has a huge effect on people who favor the common currency.