Bloomberg The biggest US and European banks added 19,000 people to their payrolls in first half of year as demand for loans and other services surged during the pandemic and planned staff cuts were largely put on hold. Eight of the top 15 firms increased headcount this year through June, while only four reduced it. Three lenders’ staff levels were ...

Bloomberg This week’s run-up in US stocks towards their highest levels on record seems an anomaly, considering the political breakdown over a $1 trillion-plus fiscal stimulus package, and it’s spurring concerns from Wall Street to Capitol Hill. Federal Reserve officials and private economists alike have emphasised that a sharp drop-off in government spending imperils a recovery from the historic collapse ...

Bloomberg Gold posted its first weekly drop in more than two months after being buffeted by climbing real yields, profit-taking and uncertainty over US-China trade talks. Bullion is ending a week filled with big price fluctuations on a relatively tame note, trading at more than $100 an ounce below last week’s record after dropping the most in seven years. Both ...

Bloomberg Oil squeezed out a gain for the second straight week but uncertainty around the US-China trade deal and fears of a resurgent pandemic limited the price rally. Crude futures in New York fell 0.5%, but rise 1.9% for the week. The US and China postponed talks planned for over the weekend that had been aimed at reviewing progress at ...

Dubai / WAM The Dubai Land Department (DLD) through its Real Estate Regulatory Agency (RERA) introduced a new development in the complaint mechanism in the management of jointly owned properties (JOP) by which it aspires to provide more comfortable solutions for its customers, thus contributing to encouraging investment in the emirate’s growing real estate sector. Under the new development, the ...

Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, will virtually address the fourth annual edition of the Sharjah International Award for Refugee Advocacy and Support (SIARA 2020) at 13:00 UAE Time, on August 19. This will be followed by the awarding of AED500,000 to the winner of this edition, ...

Dubai / Emirates Business Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (Measa) region signed a Memorandum of Understanding (MoU) with Etisalat, the leading emerging markets telecommunications provider. The agreement was signed between Arif Amiri, Chief Executive Officer of DIFC Authority and Salvador Anglada, Group Chief Business Officer of Etisalat. ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a congratulatory message to Indian President Ram Nath Kovind on the occasion of his country’s Independence Day, which is celebrated on August 15. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, and His ...

Abu Dhabi / Emirates Business Watania’s net profit jumps to AED16.6 million during the first six months of 2020 from AED7 million as compared to the same period last year – a growth of 136%, declared Dr Ali Saeed Bin Harmal Al Dhaheri, Chairman of the Board of National Takaful Company. The lockdown imposed on account of the pandemic saw ...

Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, on Saturday announced the agenda for its upcoming Dubai Technology Entrepreneur Campus (Dtec) Forum. Scheduled to take place virtually on Tuesday, August 18, 2020, the event will explore future opportunities for forward thinking technology start-ups in the ...