Bloomberg Stocks pushed higher in Europe along with US equity futures as investors looked past a worrying increase in coronavirus cases to government and monetary stimulus. The dollar slipped. In the wake of Tuesday’s global rally, gains in real-estate and banking shares brought fresh momentum to the Stoxx Europe 600 Index. S&P 500 futures swung from modest declines to gains, …

Bloomberg India stocks rose, overcoming early volatility as investors weighed the consequences of a border conflict with China’s military while coronavirus infections continued to rise as the South Asian nation reopens. The S&P BSE Sensex index rose 0.2% to 33,678.43 as of 12:51 pm in Mumbai, after swinging between gains and losses. The NSE Nifty 50 Index was up 0.2%. …

Bloomberg Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency (IEA) said. Fuel use around the world will remain 2.5% lower next year than in 2019, largely because of the “the dire situation of the aviation sector,” the Paris-based …

Abu Dhabi / WAM The UAE condemned Iranian-backed Houthi terrorist militia’s attempts to target civilian areas in Khamis Mushait, Saudi Arabia with explosive-laden drones intercepted by Coalition forces. In a statement, the Ministry of Foreign Affairs and International Cooperation, the UAE reiterated its full solidarity with Saudi Arabia against any threats to its security and stability, affirming support for all …

DAMMAM / WAM The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution, estimates that planned and committed investments in the Mena region will exceed $792 billion over the next five years (2020–2024). According to Apicorp’s Mena Energy Investment Outlook 2020-2024, the amount marks a $173mn decline from the $965bn in last year’s five-year outlook. The overall decline in …

ABU DHABI / WAM The non-oil trade exchange between the UAE and Australia totalled AED14.5 billion in 2019, a 17.4 percent increase compared to 2018, reflecting the increasing trade between the two countries, as per a recent report issued by the “Commercial Policies and International Organisations Department” of the Ministry of Economy. The report was issued as part of the …

Bloomberg BP Plc will make the biggest writedown in a decade on the value of its business, as the British oil major predicts the coronavirus pandemic will hurt long-term demand and accelerate the shift to cleaner energy. The company sees oil and gas being about 20% to 30% cheaper than before in the coming decades, and expects the cost of …

Bloomberg China will likely ease the pressure on local governments to shut older, inefficient coal mines as it seeks to meet rising demand of the most-polluting fuel to spur its economic recovery. Government officials are in the midst of preparing the country’s all-important five-year-plan, the guiding document for policy and industrial development from 2021 to 2025. Unlike the previous edition, …

Bloomberg United Airlines Holdings Inc is planning to raise $5 billion by borrowing against its frequent-flyer program, pioneering a new tool for US carriers to boost liquidity amid the Covid-19 pandemic. Goldman Sachs Group Inc, Barclays Plc and Morgan Stanley have committed to provide the financing and arrange syndication, United said in a statement. The deal, which is expected to …

Bloomberg The US government will allow Chinese airlines four flights a week into its airports, an expansion following China’s announcement it would permit the same number of operations by the Americans. In the latest action, after weeks of diplomatic wrangling on passenger flights between the two nations, the Transportation Department issued an order that doubles the number of operations permitted …