Saturday , December 4 2021

Recent News

FCSC documents UAE’s economic advancement over past 50 years

Abu Dhabi / WAM Over the past 50 years, the UAE has established solid foundations for a diversified and sustainable economy and has succeeded, after the discovery of oil in the region in the 1950s, in achieving significant economic advancement. It has also exerted significant efforts to transition to a ...

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Oil falls as omicron variant sows fears over demand

Bloomberg Oil falls as fears that omicron variant may resist vaccines sent risk assets tumbling. Futures in New York fell as much as 4.9% as part of a broader retreat among commodities and equities as a top drugmaker reiterated warnings that the new strain could withstand existing inoculations. Brent crude ...

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UAE, Iran discuss ways to enhance bilateral relations

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, received a phone call from Hossein Amir-Abdollahian, Minister of Foreign Affairs of Iran. During the conversation, they discussed bilateral relations and cooperation and ways to enhance them to advance the interests ...

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European stocks, futures hit by vaccine worry as bonds jump

Bloomberg Fresh concerns about the efficacy of existing vaccines against the omicron coronavirus strain pushed markets back into risk-off mode on Tuesday, with stocks in Europe dropping alongside US equity futures. Bonds gained as investors sought havens. The Stoxx Europe 600 index falls more than 1%, more than wiping out ...

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South Korean stocks erase 2021 gain on Covid omicron fears

Bloomberg South Korea’s benchmark stock index erased its gain for the year on renewed outflow of foreign funds amid worries that the new Covid-19 variant could hamper the global economic recovery. The equity benchmark falls 2.4%, with losses accelerating in the afternoon following a Financial Times that Moderna Inc’s CEO ...

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Stocks rebound, bonds dip as Omicron turmoil eases

Bloomberg Stocks in Europe rebounded and US equity futures rose along with Treasury yields as a semblance of calm returned to global markets while investors reconsidered their worst-case scenarios for the omicron coronavirus strain. The Stoxx Europe 600 index jumped more than 1%, recovering some of their worst drop in ...

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Markets face weeks of uncertainty in wait for virus answers

Bloomberg The fate of global markets now depends at least in part on laboratories around the world probing the omicron Covid-19 strain, potentially leaving investors with weeks of uncertainty in the wait for answers. The variant detected in Africa is described as highly worrying and international travel bans are proliferating. ...

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China regains favour of investors who consider India overvalued

Bloomberg In a change of tone over the world’s two biggest emerging markets, global investors overseeing billions of dollars are slowly starting to favour China versus India — reversing a year-long trend that’s pushed stocks in opposite directions. BlackRock Inc. has upgraded Chinese stocks as policy hurdles ease, saying “the ...

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