Bloomberg In their latest feat of levitation, US stocks are about to pull off their biggest earnings-season rally in six years. Impressive — or ridiculous, depending on your view — considering it happened as American companies were reporting a 16% profit drop that was the worst since the financial crisis. Since firms started disclosing results, the S&P 500 has jumped ...

Bloomberg The Swiss National Bank’s (SNB) US equity portfolio declined in value for the first time in more than a year, reflecting the market rout caused by the coronavirus outbreak. The central bank, which has amassed vast holdings of foreign currency due to interventions to weaken the franc, had $94 billion invested in US stocks at the end of March, ...

Bloomberg After weeks of wondering how corporate Canada fared in the early days of the Covid-19 pandemic, investors finally got a proper look under the hood. Senior executives spoke about the impact. Some described the future as too hard to predict. Others tried to identify parallels and differences with the financial crisis. By withdrawing their 2020 forecasts, many Canadian companies ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, ordered payment of all costs related to treatment of critical cases of coronavirus through stem cell therapy. The initiative of His Highness Sheikh Mohamed bin Zayed Al Nahyan comes after the Abu Dhabi Stem ...

Bloomberg Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% this week. Explorers are cutting production in response to crude oil trading in the $20-a-barrel range. EOG Resources Inc. is cutting about a quarter of its oil production for May in ...

Dubai / Emirates Business In the era of distance learning capability brought in by the Covid-19 pandemic, a line-up of ministers and decision makers in the education sector highlighted why it is critical to develop a sound implementation strategy to ensure the continuity of higher education and learning, during a session titled, ‘Life After Covid-19: Higher Education’. The virtual session ...

Fujairah / WAM Fujairah Charity Association (FCA) distributed 150,000 iftar meals in the first half of the Holy Month of Ramadan to workers and underprivileged families in the emirate of Fujairah. Saeed bin Mohammed Al Raqbani, Chairman of FCA, stated that an average of 10,000 meals was delivered daily to the beneficiaries. The plan is to deliver 300,000 meals by ...

Dubai / Emirates Business The Real Estate Regulatory Agency (RERA) imposed a AED 50,000 fine on a real estate company that was found to have violated the laws related to the escrow account and permits of real estate advertisements, specifically Law No. (8) for 2007. RERA calls on all real estate companies and brokers to abide by laws and regulations ...

Dubai / Emirates Business Emirates SkyCargo announced, it has introduced weekly scheduled cargo flights on its Boeing 777-300ER passenger aircraft to Sao Paulo. This will allow for importers and exporters in the region to stay connected with their trading partners across the world with access to around 40 tonnes of cargo capacity on the lower deck of the Emirates aircraft. ...

ABU DHABI / WAM Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, praised the call of the Higher Committee of Human Fraternity to all people to make Thursday, May 14, a day to pray to end the coronavirus pandemic. Sheikh Nahyan said that His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme ...