Bloomberg European stocks and US equity futures were little changed after China said it would sanction American officials in retaliation over Hong Kong. Stocks pulled back from earlier gains, but losses in the Stoxx Europe 600 Index were limited by rallies in Spanish bank shares. Oil advanced after Saudi Aramco said demand will continue to improve. Treasuries and the dollar ...

Bloomberg Tencent Holdings Ltd. added to Friday’s sharp decline to start the week, putting the stock’s two-day loss of market value at $66 billion following America’s move to ban residents from doing business with the company’s WeChat app. The stock falls 4.8% on Monday and nearly reached Friday’s low. The cumulative 9.6% drop, the worst two days since October 2011, ...

Bloomberg Equity mutual funds in India suffered their first monthly outflow in more than four years as retail investors cashed out to tide over the pandemic-related cash crunch even as stocks continued their ascent. Stock plans lost a net 24.8 billion rupees ($331 million) in July, compared with an inflow of 2.41 billion rupees in June, according to data from ...

ABU DHABI / WAM The new support initiatives launched by the Ministry of Economy, organised by a committee chaired by Abdullah bin Touq Al Marri, Minister of Economy, with the participation of relevant authorities, are key additions to the series of incentives adopted by the UAE to support its economic sectors, and were recently described by the foreign media as ...

Bloomberg Saudi Arabia’s oil giant pressed ahead with a plan to pay $75 billion in dividends this year. Saudi Aramco said net income in the three months ending in June was $6.6 billion, according to a statement. Aramco will pay a dividend of $18.75 billion for the quarter. “Strong headwinds from reduced demand and lower oil prices are reflected in ...

DUBAI / WAM Dubai Trade DP World, UAE region’s single window platform for cross-border trade has announced the launch of Zadi, a unified food import platform aimed at facilitating the import and re-export of food shipments throughout Dubai ports. The first-of-its-kind platform in the Middle East is part of Dubai Trade’s plan to be the leading integrated platform in all ...

Sharjah / WAM Arada announced the launch of a new premium garden villa community at Aljada, the 24 million square foot mixed-use destination in the heart of New Sharjah. Featuring 114 villas and townhouses set in a landscaped and exclusive neighbourhood, homes in Sarab 2 will be available for sale from August 10 onwards. With a range of two-bedroom townhouses, ...

Bloomberg India will stop importing more than 100 items used by its armed forces in a bid to boost local manufacturing. The ban will be implemented gradually, starting with products like sniper rifles and light-combat helicopters in December 2020 and long range land-attack cruise missiles in December 2025, the Ministry of Defense said in a statement on Sunday. Similar items ...

AL AIN / WAM The United Arab Emirates will launch a navigation satellite next year aimed at demonstrating the country’s technological capabilities, a top official told Emirates News Agency (WAM). “The first satellite will be launched in 2021 and the second — a technologically enhanced one — the following year,” said Dr Khaled Al Hashmi, Director of the National Space ...

Ajman / WAM Ajman’s Department of Economic Development (DED) announced the opening of all economic activities for those wishing to register for the Reyada Programme for working from home. The Reyada Programme is the first of its kind in Ajman, targeting Emiratis residing in the emirate and enables them to work from home, noting that the number of members registered ...