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☆ Major Gulf bourses in red ahead of U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Seun Sanni | ) www.reuters.com time to read: +2 min

The U.S. consumer price index (CPI) data for October is due at 1330 GMT, with economists polled by Reuters forecasting a decline in both monthly and yearly core numbers to 0.5% and 6.5%, respectively. Dubai's main share index (.DFMGI) fell 0.3%, with blue-chip developer Emaar Properties (EMAR.DU) losing 0.6% and top lender Emirates NBD (ENBD.DU) falling 0.4%. Dubai schools operator Taaleem Holdings announced a price range of between 2.95 dirhams and 3 dirhams per share for its upcoming initial public offering. The company plans to raise 750 million dirhams ($204.21 million) from the IPO to expand its premium schools network. The Qatari index (.QSI) retreated 0.7%, as most of the stocks on the index were in negative territory.

The banks are now less conservative in counting expected rental income when assessing loan applications, said the four sources. In September, about a third of new bank mortgage lending was for investment. On Nov. 12, NAB will also halve its discount on rental income to 10%, including for Airbnb-like short-term rentals, the sources said. NAB, Westpac and ANZ trail market leader Commonwealth Bank of Australia (CBA.AX), which has a quarter of the mortgage market. Commonwealth continues to apply a rental income discount of 20% on mortgage applications, a sixth source said.

☆ African solutions: Lagos art fair tackles climate and culture
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/3] People look at a painting at the Art X, an annual art fair held in Lagos, Nigeria November 5, 2022. They were among hundreds attending ART X, an annual fair in Lagos, Nigeria's buzzing commercial capital, that hosted more than 120 artists from 40 African countries and the diaspora. aimed to tap into African wisdom to address problems from climate change to political crises. Just beyond the fair, flooding has laid farmland to waste and displaced more than a million. Ify Obi, 24, standing by her favourite piece - a giant woven design by Nigerian artist Victor Ehikhamenor that threaded plastic rosaries onto lace to create images of traditional African leaders - said she most appreciated works that amplified African culture and African solutions.

☆ Desperate flight, then misery in a camp for Nigerians displaced by floods
▼ + stars: | 2022-10-25 | by ( Seun Sanni | ) www.reuters.com time to read: +3 min

"They ate like people who need more, so like a father that I am I cannot go and join them," he said. NOT ENOUGH FOODThe camp in the school building in the village of Ogbogu now shelters about 600 displaced people whose homes are under water. People are so desperate they are cooking with chaff that would normally be thrown away after grinding cassava to make garri, a staple food. He and those who remained were sleeping outdoors as there was no space in any of the makeshift camps that had sprung up, he said. "Even when this is over, I know that there is no money now that I can use to buy something to eat.

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