Bloomberg France will push on with tax-cut plans and broad economic overhauls to help the country rebound from a recession that will be deeper than previously anticipated, Finance Minister Bruno Le Maire said. The economy will shrink 11% this year, more than the 8% previously predicted. Le Maire said that means France must continue with emergency support and pro-business reforms, ...

Bloomberg Pandora A/S, which makes more pieces of jewellery than any other company in the world, will stop relying on newly mined gold and silver and instead use only recycled precious metals. The new policy, which takes effect in 2025, will help the Copenhagen-based company beef up its climate credentials and make it a more appealing target for investors eager ...

Bloomberg The number of Spaniards filing for jobless claims rose in May at a much slower pace than the previous two months, a sign that businesses are getting back to work as Spain gradually lifts its strict lockdown measures. Claims rose by 26,573, the Labour Ministry said on Tuesday. But some sectors saw an increase in hiring, including construction, and ...

Bloomberg Stocks rose in Europe and Asia and US equity futures edged higher as investors weighed positive signs on stimulus and the global economy against worsening social unrest in America. Oil advanced. The Stoxx Europe 600 Index opened in the green, with the DAX pacing gains as German Chancellor Angela Merkel seeks to thrash out a deal on a second ...

Bloomberg Indian stocks are poised for their longest winning run since November amid optimism that easing of the nationwide lockdown will reboot economic growth. The S&P BSE Sensex and the NSE Nifty 50 Index each rose 0.9% as of 12:11 pm in Mumbai. Both gauges are set for their fifth day of gains and longest winning streak since November 4. ...

Bloomberg Things will get better for most of Asia’s developed stock markets, according to Quarz Capital Management Ltd. “All developed Asian countries, especially Japan, Singapore and Australia, have started to stimulate their economies massively,” said Jan Moermann, founder and chief investment officer of the activist fund that holds Asian stocks. “We expect a potential catch up of these markets to ...

ABU DHABI / WAM The central bank of the UAE has revealed that the gross assets of banks operating in Abu Dhabi and Dubai have risen to around AED2.897 trillion, by the end of April, accounting for 92 percent of total banking assets in the country, which are estimated at AED3.156 trillion. Dubai banks’ assets amounted to AED1.489.2 trillion, according ...

RAS AL KHAIMAH / WAM Gulf Pharmaceutical Industries, Julphar, on Monday announced the launch of its AED500 million ($136.13 million) rights issue as the company progresses on its ambitious turnaround plan. The rights issue is set to improve the company’s capital position and debt profile and will provide the financial foundation for the successful implementation of the company’s medium-term growth strategy, ...

ABU DHABI / WAM The Khalifa Industrial Zone Abu Dhabi (Kizad), broke ground for a new dedicated Truck Plaza, comprising refuelling and rest facilities with the Industrial Zone. The project was introduced to HH Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of Abu Dhabi Executive Office, during his visit to Kizad to ...

RIYADH / WAM Forces of the Coalition to Restore Legitimacy in Yemen on Monday intercepted and destroyed two Saudi-bound drones launched by the Houthi militia in Yemen, reported the Saudi Press Agency (SPA). In a statement, the coalition’s official spokesperson, Colonel Turki Al Malki said, “Coalition forces have successfully intercepted and destroyed on Monday two UAVs launched by the terrorist ...