Saturday , July 11 2020

Recent News

Mohamed appoints board for ‘Frontline Heroes Office’

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Frontline Heroes Office, has appointed the Board of the Office, under the chairmanship of Sheikh Sultan bin Tahnoon Al Nahyan. The ...

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Oil hits $41 as new virus cases weigh against demand return

Bloomberg Oil traded near $41 a barrel in New York as coronavirus cases continued to surge globally, casting doubt over the market’s rebounding consumption. US crude traded lower, while Brent edged higher. Goldman Sachs recommended buying global benchmark futures over WTI as American inventories grow. US crude stockpiles rose last ...

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India plans to raise $2.7bn selling stakes in two firms

Bloomberg India is considering a plan to raise as much as 200 billion rupees ($2.7 billion) by selling stake in the world’s largest coal producer, and a bank to fund a stimulus program aimed at boosting the virus-battered economy, officials with knowledge of the matter said. The proposal involves a ...

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European stocks gain amid economic support policies

Bloomberg European stocks snapped a two-day losing streak as investors kept faith with economic support policies, helped by some reassuring earnings news. The dollar fluctuated alongside US equity futures. Shares in Europe’s largest technology company, SAP SE, rose 7% after it reported better-than-expected second quarter revenue on returning demand for ...

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Malaysia tech stocks on fire with gauge hitting 16-year high

Bloomberg As Malaysia’s benchmark stock index inches closer to erasing its loss for the year, one corner of the market has raced ahead: technology shares. The Bursa Malaysia Technology Index of 38 stocks has soared 95% from a March low to reach the highest level since 2004, led by manufacturers ...

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Flows to India’s stock funds tumble in June

Bloomberg Flows into Indian stock funds slumped in June as investors pocketed gains from a strong rebound in equities as the pandemic showed no signs of slowing in Asia’s third-largest economy. Equity plans got 2.4 billion rupees ($32 million), according to data from the Association of Mutual Funds in India. ...

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European stocks erase losses, US futures climb

Bloomberg European stocks erased losses and US equity futures climbed as investors weighed prospects for the economy to recover during the pandemic. Telecom and health-care shares were among the biggest gainers in Europe. HSBC Holdings Plc slumped after a report that some of Donald Trump’s advisers proposed a move to ...

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India stocks fluctuate on eve of quarterly earnings reports

Bloomberg India stocks swung as investors weighed the gradual resumption of business activity against a steady rise in new coronavirus cases, ahead of the quarterly earnings season starting on Thursday. The S&P BSE Sensex was little changed at 36,714.87, at 10:05 am in Mumbai, as was the NSE Nifty 50 ...

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