Bloomberg Investors are gearing up for a potentially tumultuous European earnings season that may offer clues on whether the stock market’s rapid rebound since the start of the Covid-19 pandemic has been wise or foolish. The second-quarter reporting season kicks off this week with the likes of Volvo AB, Electrolux AB and Nordea Bank set to shed light on the ...

Bloomberg Similarities between a speculative frenzy that this month added more than $1 trillion in value to China’s stock market and 2014’s debt-fuelled binge left investors wondering if a new bubble was in the making. Familiar signs of euphoria emerged before Beijing moved to cool the rally. Turnover soared, margin debt grew at the fastest pace since 2015 and a ...

Bloomberg President Donald Trump said a phase two trade deal with China isn’t under consideration, saying the relationship between Washington and Beijing has deteriorated too much. “I don’t think about that,” Trump said when asked about the possibility of a second round of trade agreements with China. “The relationship with China has been severely damaged.” Trump’s comments — made to ...

Bloomberg Jio Platforms Ltd., the digital services business controlled by billionaire Mukesh Ambani, completed the sale of 6% of its shares for about $4 billion. Saudi Arabia’s Public Investment Fund closed a deal for a 2.3 percent stake for 113.7 billion rupees ($1.5 billion), according to an exchange filing from Jio’s parent, Reliance Industries Ltd. Silver Lake purchased 2.1% of ...

Bloomberg Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York, but is still down for the week. The market followed stocks higher after Gilead Sciences Inc. said its remdesivir treatment cut Covid-19 mortality risk by 62%. Still, the coronavirus pandemic is far from ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) has embarked on the Operational Phase of the Software Asset Management Project, a key tool for leveraging asset management structures. It caters to the development of a specialist software encompassing all financial and contractual details of the RTA’s assets as well as the development of competent personnel to manage the system. ...

DUBAI / WAM Dubai SME, the agency of Dubai Economy, mandated to develop the small and medium enterprise (SME) sector and entrepreneurship continued to expand and diversify its advisory and support programmes in 2019 with an added emphasis on enhancing SME competitiveness and strengthening Dubai as a hub of innovation and entrepreneurship. The past year saw 3,871 Emirati entrepreneurs benefit ...

Dubai / WAM The United Arab Emirates has been ranked first in the GCC, Arab region, and Western Asia, and 8th globally in the Online Service Index (OSI) issued by the United Nations within the E-Government Development Index (EGDI). The UAE is also ranked 4th in Asia in this indicator, advanced one rank in the E-participation Index as well as ...

DUBAI / WAM The Emirates Mars Mission will lead to a “more competitive” Arab world economy and a stronger integration with the global society, a top Emirati official told the Emirates News Agency (WAM), as the countdown has started to the official launch. “We are actually building the capacity and capability in advanced sciences in the UAE and the region. ...

Sharjah / WAM The Sharjah Electricity and Water Authority (Sewa) has announced the completion of the connection and operation of the electricity for 135 residential buildings in the city of Sharjah within only 15 days, as part of the Authority’s commitment to ensure the best services to the people of the emirate. Dr. Rashid Al Leem, Chairman of Sewa, expressed ...