Bloomberg Pakistani stocks rose after the International Monetary Fund (IMF) said it plans to disburse about $1.4 billion in emergency financing next week to help the nation shield its economy hit by the coronavirus outbreak. “The IMF and the Pakistani authorities are working hard for a prompt approval and disbursement” in a single installment, Teresa Daban Sanchez, IMF’s chief in ...

Bloomberg Investors who want to trade big swings in risk sentiment may want to venture outside the typical US stocks play and consider currencies, according to analysts at Standard Chartered Plc. An analysis of how the S&P 500 Index and currencies traded relative to their volatility indicated that some foreign exchanges were more efficient in capturing the shifts through the ...

DUBAI / WAM National Bonds, the UAE-based financial and Sharia-compliant investment company, announced that its assets under management increased by 9 percent to AED7.8 billion in 2019, according to the results published by the company. The assets included mainly Wakala Deposits (38%), Real Estate – Yield Generating (27%) and sukuk (25%), according to National Bonds, which is owned by the ...

ABU DHABI / WAM The Italian envoy to Abu Dhabi has said that Italy’s government and people were “moved” by the sympathy and compassion shown by the UAE during coronavirus pandemic. In a statement to Emirates News Agency (WAM) Ambassador Nicola Lener said that Italy was “deeply impressed” by the UAE initiative that saw the shipment of 10 tonnes of ...

Bloomberg Oil rose as investors weighed whether output cuts being discussed by the world’s top producers will be enough to offset the demand destruction wrought by the coronavirus. Futures in New York climbed around 3% towards $25 a barrel. Saudi Arabia and Russia are hammering out an agreement that a delegate said will reduce global output by about 10 million ...

Bloomberg India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signalling its support for global efforts to rescue the energy market. The purchases are aimed at taking advantage of low prices, according to officials with knowledge of the matter. But two of them said they’re also ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced the successful completion of all the required preparations at its district cooling plants across Dubai, to cater to the increasing demand during the summer, with the most sustainable and reliable technologies in district cooling operations and maintenance. The company cited a forecast by the National Centre of Meteorology, which says ...

DUBAI / WAM The Dubai Judicial Institute (DJI) announced that all amendments to the distribution of the budget will be made within the relevant prepared plans, as part of its keenness to fully comply with the precautionary measures approved by the relevant government agencies in the country. The institute performed complete maintenance of all its administrative and educational facilities, including ...

DUBAI / WAM Dubai-based airline, flydubai, has allocated six Next-Generation Boeing 737-800 aircraft to operate as all-cargo flights to enable the movement of essential goods across its network and beyond. This follows the temporarily suspension of passenger operations as part of the precautionary measures announced by the National Emergency Crisis and Disasters Management Authority (NCEMA); and the General Civil Aviation ...

ABU DHABI / WAM The Department of Health – Abu Dhabi (DOH), the regulator of the healthcare sector in the emirate, has launched new features for its website for Covid-19 to comprehensively showcase the real-time Covid-19 outbreak for the public. Developed in collaboration with the UAE-based applied artificial intelligence company, Saal, the platform saw over 1 million sessions since its ...