Bloomberg Ant Group Co.’s highly-anticipated initial public offering in Shanghai is set to intensify rivalry between the bourse and its competitor Shenzhen, as both aim for the top spot in China’s $9.9 trillion equity market. The megacities house two of the world’s largest 10 stock-exchange operators, and have for decades jostled to become the go-to destination for firms wanting to ...

Bloomberg A slowing pace of virus infections and optimism over China’s economic recovery is burnishing the appeal of Asian stocks for some money managers as volatility in global markets jumps ahead of next week’s US vote. GAM Investment Management, Robeco Hong Kong Ltd. and Nordea Investment Funds SA see regional shares extending October’s gains, regardless of who wins the election. ...

Bloomberg Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery. Futures fall 1.1% in New York to end the week below $36 a barrel taking their cue from a broader market selloff and the worst week for US stocks since March. At the same time, the ...

Bloomberg When talking about the biggest company in the world, it’s not unusual for there to be eye-popping numbers. But Apple Inc.’s latest superlative is not one investors would like to see. Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out ...

Abu Dhabi / WAM In line with the UAE government’s plan and increased efforts to combat Covid-19, the Supreme Committee for Covid-19 Crisis Management, has announced the formation of the National Covid-19 Crisis Recovery Management and Governance Committee. The committee is mandated to ensure efficient recovery from the Covid-19 crisis by leveraging the resources required for business continuity. The committee ...

Al Ain / WAM The UAE is the latest country to join the UK-initiated Global Ocean Alliance, a group of 32 countries working to protect the ocean and improve the livelihoods of coastal communities. As its core goal, the Alliance calls for safeguarding at least 30 percent of the world’s oceans by 2030 through marine protected areas. The UAE is ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 143,991 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...

Sharjah / WAM Sharjah will be the cynosure of all eyes in the global publishing industry on Sunday as the 10th Publishers Conference is inaugurated at the Expo Centre Sharjah. The three-day event organised by the Sharjah Book Authority (SBA) opens ahead of the official opening of the 39th Sharjah International Book Fair, SIBF, on November 4. More than 317 ...

ABU DHABI / WAM The UAE has strongly condemned the terrorist attack that took place in the French city of Nice, which claimed the lives of a number of people, and wounded others. In a statement, the UAE Ministry of Foreign Affairs and International Cooperation emphasised that the UAE expressed its strong condemnation of these criminal acts and its permanent ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the UAE is committed to implementing innovative projects that optimise use of resources and solve critical challenges as part of the country’s strategy to ensure environmental sustainability. A key element in the UAE’s development model, environmental sustainability ...