Monday , April 6 2020

Recent News

Tabreed buys AED2.48b stake in Emaar district cooling business

DUBAI / WAM The National Central Cooling Company (Tabreed) acquired an 80 percent stake in Emaar Properties’ Downton Dubai district cooling business. The UAE-based district cooling developer announced the AED2.48 billion ($675 million) acquisition on Monday, noting that Emaar will retain a 20 percent stake as part of the long-term ...

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Japan’s Abe unveils record $989bn stimulus package

Bloomberg Prime Minister Shinzo Abe announced a 108 trillion yen ($989 billion) stimulus package, Japan’s largest ever, to rescue the coronavirus-hit economy with Tokyo and six other economic hubs set to be put in a state of emergency. The package, equivalent to about 20% of the nation’s economic output, will ...

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EU to boost tariffs on US goods in metal-trade row

Bloomberg The European Union (EU) plans to impose tariffs on lighters, plastic fittings from the US in retaliation over controversial American duties on imported steel and aluminum, according to EU officials. The EU intends to apply a 20% tariff on lighters and a 7% levy on plastic fittings for furniture ...

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Stocks jump with US futures on easing coronavirus toll

Bloomberg Stocks jumped in Europe and Asia alongside US equity futures after the reported death tolls in some of the world’s coronavirus hot spots showed signs of easing over the weekend. The dollar strengthened and Treasuries fell. The Stoxx Europe 600 Index opened solidly higher after Italy said it had ...

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Asian stock markets still in bear country, says Goldman Sachs

Bloomberg Asia stocks are not out of the woods yet, despite the recent bear-market rally, according to Goldman Sachs Group Inc. Investors who may be getting optimistic that markets across the region have bottomed should resist that notion, strategists led by Timothy Moe said in a note on Monday. The ...

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Slowing US virus cases to put floor under stocks

Bloomberg A slowdown in the growth rate of new US coronavirus cases may help put a floor under stocks and dampen volatility, according to JPMorgan Chase & Co. The Cboe Volatility Index has been tracking data associated with the global spread of cases and has shown a relationship with growth ...

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Singapore retail investors use cheap cash to load up on stocks

Bloomberg Record low interest rates are tempting some retail investors in Singapore to load up on debt to buy shares, just as the coronavirus outbreak creates the most volatile markets since the global financial crisis. Earlier this year, 31-year-old insurance agent Heng Kai Sheng got advances on three separate credit ...

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Stock investors shun Canadian REITs as virus hits economy

Bloomberg For the longest time, Canadian real estate investment trusts were a stalwart for income investors. Now, dividend payments hang in the balance as commercial and residential tenants struggle to pay rent during a pandemic that has shut down much of the economy. Typically seen as a place to get ...

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