Bloomberg Rupee traders, lulled into a sense of complacency by the Reserve Bank of India’s massive dollar purchases, are in for a rude awakening as the monetary authority takes a break from soaking up the greenback. The rupee was the best-performing currency in Asia, up 0.6% to 73.43 to a dollar. It is up about 2% for the week, the ...

Bloomberg Nigeria’s central bank’s decision to resume the supply of dollars to money changers is raising the risk unscrupulous traders will profit from the country’s multiple exchange rates, according to Rand Merchant Bank. The regulator said that it will sell dollars from September 7 to foreign-exchange agents for the first time since March, when the country closed its air borders ...

Bloomberg Most Middle Eastern equity markets advanced on Sunday, with major gauges heading for the best monthly performance since April amid growing optimism regarding a coronavirus vaccine and higher oil prices. The main indexes in Dubai, Abu Dhabi and Saudi Arabia were all headed to the best monthly advance in four months, with Dubai’s DFM General Index leading the increase ...

Bloomberg Concern about tighter liquidity in China is reverberating through the nation’s financial markets. Government bonds are heading for a fourth month of declines, a rally in stocks has been slowed, while the yuan has strengthened to its highest level since January. The yield on China’s sovereign bonds due in a decade climbed 10 basis points this month to 3.08%, ...

Bloomberg Oil rises for a fourth week in a row as US Gulf Coast refineries began restarting though gains were capped as investors shifted their focus from the storm towards the fragile rebound in consumption amid the pandemic. WTI was little changed and notched a 1.5% gain for the week. While Laura was one of the most powerful hurricanes to ...

New Delhi / WAM India’s Ministry of Civil Aviation has announced wide-ranging relaxations in the operations of domestic flight services, which will bring relief to passengers arriving from Gulf airports and on long-haul international flights. An order issued by Usha Padhee, Joint Secretary in the ministry, directed airlines to resume meal services on domestic flights with immediate effect. This supercedes ...

Dubai / WAM In presence of Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) and Peng Xiao, CEO of Group 42, Digital Dewa – the digital arm of Dewa, announced a strategic partnership with Group 42 (G42), an Abu Dhabi based leading Artificial Intelligence (AI) and cloud computing company. The signing ceremony was attended ...

Dubai / WAM The Ministry of Health and Prevention (MoHAP) announced on Saturday that it conducted 88,803 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. ...

ABU DHABI / WAM His Highness Sheikh Khalid bin Zayed Al Nahyan, Chairman of the Board of Directors of Zayed Higher Organisation for People of Determination, said that the celebration of the Emirati Women’s Day this year comes under the slogan “Planning for the Emirates 50th Year: Women Supporting the Nation” because of their significant and invaluable role in the ...

DUBAI / WAM Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) announced that the upgrading of three stations on the Dubai Metro Red Line namely, Dubai Internet City, Damac Properties, and UAE Exchange has reached 40 percent. The improvement of stations along with the surrounding infrastructure aims to ...