Bloomberg Underlying price pressures in the euro area have stabilised at a low level that isn’t in line with the European Central Bank’s (ECB) goal, according to Governing Council member Olli Rehn. While the institution’s pandemic stimulus has prevented strong deflationary trends from emerging, “the inflation outlook is a concern,” he said in a webinar. He added that core inflation ...

Bloomberg India’s mid- and small-cap stocks are set to receive a boost after the regulator tweaked rules for multi-cap mutual funds, a move analysts say could push about 400 billion rupees ($5.4 billion) to the broader market. Multi-cap funds must hold at least 75% of their assets in equities — up from 65% at present — with 25% each in ...

Bloomberg SoftBank Group is considering revamping a controversial strategy of using derivatives to invest in tech companies, and its executives have met with investors in recent days to assure them that the bets are relatively conservative. The Japanese conglomerate has stressed to investors that its billion-dollar positions have been concentrated in a handful of blue-chip tech companies, including Microsoft Corp. ...

Abu Dhabi / WAM Saqr Ghobash, Speaker of Federal National Council (FNC) has welcomed the decision taken by the Kingdom of Bahrain to establish diplomatic relations with the State of Israel as an “important step” in supporting stability in the Middle East. “The move will herald a new era where values of joint action would prevail, open up new horizons ...

Bloomberg Some of the world’s biggest oil traders are gearing up for a possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for months-long charters so that they can be ready to store excess barrels if necessary. The chartering spree is likely to alarm producers and their allies as it indicates that the oil traders ...

Abu Dhabi / WAM Abu Dhabi Ports announced on Saturday that Khalifa Port’s expansion is on pace for completion. The Khalifa Port expansion, announced in December 2019, aims to attract new business and significantly boost capacity in line with evolving customer expectations, and has progressed significantly since its inception despite the challenging economic conditions presented by global pandemic. Upon completion, ...

SHARJAH / WAM The Sharjah-based Hamriyah Free Zone Authority (HFZA) signed a strategic partnership agreement with Lamprell, the leading provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy industries. Under the agreement, Lamprell will lease an additional 1.360 million sq. ft. of land inside the free zone to continue to improve ...

Dubai / WAM Dubai International Financial Centre (DIFC) the leading global financial centre in the Middle East, Africa and South Asia (Measa) region, has reaffirmed its commitment to driving the future of finance by signing a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF). The agreement between the two forward-looking counterparts will advance the innovation agenda within Dubai ...

AL KHOKHA / WAM The UAE continues to provide aid relief to the people of Yemen, as part of its efforts to alleviate suffering and restore normalcy to the lives of families facing financial hardship. Accordingly, the Emirates Red Crescent (ERC) has provided 16 tons of food aid to 1,400 families who have fled cities in the Al Hodeidah governorate ...

ABU DHABI / WAM The Abu Dhabi Judicial Department (ADJD) signed a cooperation agreement with Department of Municipalities and Transport (DMT) for the establishment of a Real Estate Dispute Settlement Centre in Abu Dhabi. The initiative is part of the endeavours undertaken to consolidate bilateral cooperation and strategic partnership with objective of establishing an integrated system capable of improving alternative ...