Bloomberg The UK economy started to bounce back from the coronavirus this month as an early indicator of activity jumped. IHS Markit’s composite Purchasing Managers Index climbed to 47.6 from 30 in May. While that’s still below the critical 50 mark that separates expansion from contraction, the size of the monthly gain was the biggest since the survey began in ...

Bloomberg The World Trade Organisation (WTO) tempered its pessimism about the outlook for cross-border commerce, saying its worst-case scenario for this year will likely be avoided but warning governments against becoming complacent to lingering economic risks. The Geneva-based organisation estimated that global trade in merchandise dropped 3% in the first quarter and fell 18.5% in the second, according to a ...

Bloomberg Stocks advanced in Europe along with US equity futures after manufacturing data from the euro area pointed to further signs of a recovery from the virus slump. Treasuries were steady and the dollar declined. Carmakers and banks led a broad advance in the Stoxx Europe 600 index as Purchasing Managers’ Indexes (PMIs) showed manufacturing in France unexpectedly returned to ...

Bloomberg Indian stocks climbed, taking the benchmark index to its highest level in more than three months, after a report of a step back in a border dispute with China. The S&P BSE Sensex added 0.9% to 35,238.03 as of 2:01 pm in Mumbai, while the NSE Nifty 50 Index advanced by 1.1%. Both gauges are set for their biggest ...

Bloomberg Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. Opec and its allies are on track to rebalance the oil market and there are encouraging signs of recovery, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told an Opec+ meeting last week. However, California reported record ...

ABU DHABI / WAM Abu Dhabi Pay launched through the Abu Dhabi Government (TAMM), the Abu Dhabi government services ecosystem is the latest unified digital payment platform for all government services in the emirate. The platform provides secure and standardised methods of digital payment for all government services across different channels, ensuring customer no longer need to visit government offices ...

ABU DHABI / WAM Adnoc Distribution has been named the No1. retail brand in the region in the Forbes Middle East Top 100 Companies 2020. Adnoc Distribution, ranking at number 52 overall, is one of 21 UAE companies to be listed, with GCC companies accounting for 90 percent of the total 100. Compiled of the largest and most successful listed ...

Abu Dhabi / WAM The UAE national airline, Etihad Airways, is partnering with Austrian-based healthcare technology company Medicus AI to launch a Covid-19 risk-assessment tool that will empower guests to make informed decisions about travelling. Powered by Medicus AI’s technology, the risk-assessment tool will guide Etihad’s guests in evaluating the probability of having contracted the Covid-19 by responding to a ...

DUBAI / WAM The Ministry of Finance (MoF) organised a virtual workshop with the UAE central bank, and banks within the country, to explain banking procedures related to managing bank accounts for federal entities. These include operations related to the powers and limitations of signature and other procedures regulating banking procedures, in line with the Federal Decree-Law on Public Finance. ...

DUBAI / WAM Dubai’s dnata, one of the world’s largest air services providers, continues to be recognised for achieving the highest safety standards. The International Air Transport Association (IATA) awarded dnata the IATA Safety Audit for Ground Operations (ISAGO) Registration in Iraq, following the successful completion of a comprehensive audit of the company and its ground-handling operations at Erbil International ...