Bloomberg Finland is turning to former Prime Minister Matti Vanhanen to steer it out of the Covid-19 slump and help rebuild its public finances after a massive bout of stimulus spending. The Center Party unanimously chose the 64-year-old speaker of parliament as the country’s new finance minister after Katri Kulmuni stepped down over an expenses scandal. Vanhanen told a press ...

Bloomberg European stocks dropped, the dollar weakened and US equity futures fluctuated as investors mulled how much further to take the global rally in risk assets. Technology and health-care shares led the Stoxx Europe 600 Index lower. The greenback fell against a basket of its peers and headed for the longest losing streak since 2011. Brent crude oil rose to ...

Bloomberg Indian stocks rose for a second day as the country entered the first phase of opening up its economy, with hotels, restaurants and shopping malls permitted to function after more than two months of lockdown. The S&P BSE Sensex advanced 1.4% to 34,757 as of 10:57 am in Mumbai, with the NSE Nifty 50 Index also gaining by the ...

Bloomberg There’s a new king in the world of Japanese pharma after hopes for a coronavirus treatment helped to turbocharge its shares. Chugai Pharmaceutical Co., Japan’s leading oncology company, is the best performer on the Nikkei 225 this year, up almost 56% versus the 2% drop in the broader index. The surge has brought its market value almost neck-and-neck with ...

ABU DHABI / AGENCIES During a video conference, Opec+ alliance agreed to extend production cut to the end of July. The videoconference meeting was held in an atmosphere of cooperation and a collective determination to maintain a balance in the oil market, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, wrote on Twitter. “The UAE is ...

ABU DHABI / WAM Abu Dhabi Global Market (ADGM) and Abu Dhabi Exports Office (Adex) – the UAE-wide export financing entity founded by Abu Dhabi Fund for Development – signed a Memorandum of Understanding (MoU) to develop exports climate in the UAE, solidifying their commitment to expanding nation’s exports reputation and ensuring local economic growth across the UAE. Through partnership, ...

Dubai / WAM P&O Marinas has signed a strategic collaboration agreement with Pindar Yacht Management for the development of a water sports academy, a recreational club, an exhibition space and associated marine leisure services and facilities. Under the agreement, Pindar Yacht will bring its experience as an international sailing business and brand to support the transformation of the P&O Marinas ...

Bloomberg China’s trade surplus surged to a record in May as exports fell less than expected, helped by an increase in medical-related sales, and imports slumped along with commodity prices. Exports decreased 3.3% in dollar terms from a year earlier, beating economists’ estimates, while imports plunged 16.7%. That resulted in a trade surplus of $62.93 billion. The record surplus comes ...

DUBAI / WAM Emirates NBD and digital payments facilitator Visa on Sunday announced the renewal of their partnership with a five-year agreement. As part of the agreement, Visa has secured exclusivity over Emirates NBD’s debit card offering to personal, priority, private and business banking customers, and the debit card programme for Liv. Emirates NBD’s lifestyle digital-only bank. In addition, the ...

ABU DHABI / WAM The latest regional developments and issues of mutual interest have been deliberated by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Egyptian Minister of Foreign Affairs Sameh Shoukry. This came during a phone call on Saturday, where top diplomat valued the efforts made by Egypt that led to ...