Bloomberg The global rally in stocks held its momentum on Wednesday as investors showed more optimism of quick economic recovery from the coronavirus pandemic. Treasuries dipped with gold, and a dollar gauge hit its lowest level since early March. Gains in insurance and auto shares pulled the Stoxx Europe 600 Index higher. Contracts on the S&P 500 Index rose along …

Bloomberg The rally in Indian stocks showed no signs of abating on Wednesday as investors continued to bet that easing of the nationwide lockdown will reboot economic growth. The rupee gained for a fourth day, while sovereign bonds were steady. The S&P BSE Sensex and the NSE Nifty 50 Index climbed 1.1% each as of 10:57 a.m. to the highest …

Bloomberg Oil rose past $36 a barrel as investors eyed a potential extension of record production curbs by Opec+ while physical markets showed renewed signs of tightness. Futures in New York rose around 2.7%. Russia and several producers in the Organisation of Petroleum Exporting Countries and its allies are said to favour an extension of one month to existing cuts, …

GENEVA / WAM The International Air Transport Association (IATA) urged governments to quickly implement the International Civil Aviation Organisation’s (ICAO) global guidelines for restoring air connectivity. Today, the ICAO Council approved ‘Takeoff: Guidance for Air Travel through the Covid-19 Public Health Crisis,’ an authoritative and comprehensive framework of risk-based temporary measures for air transport operations during Covid-19 crisis, the IATA …

Bloomberg Electricite de France (EDF) and its Canadian and German partners have finalised the funding of a 2 billion euro ($2.23 billion) offshore wind project, allowing construction to start in the English Channel. EDF, Enbridge Inc and Wpd AG plan to commission the 500-megawatt wind farm in 2023, the companies said in a statement on Tuesday. The facility near the …

Bloomberg China boosted its clean energy targets for 2020 and said it would for the first time formally monitor whether provinces meet their goals or not. Nationwide, the country is targeting 28.2% of electricity generation to come from renewable sources, up 0.3 percentage points from last year, the National Development and Reform Commission (NDRC) said. Non-hydro sources are expected to …

Bloomberg The UK is considering a plan to allow unhindered flights from countries with a low risk of spreading coronavirus as pressure mounts on ministers to scrap controversial quarantine plans. Arrivals in Britain will have to self-isolate for 14 days under rules to be introduced on June 8, which travel executives warn could devastate their industry. The restrictions are due …

Bloomberg Thailand’s cabinet on Tuesday approved a bid by a consortium led by BTS Group Holdings Pcl for an airport development project worth 290 billion baht ($9 billion). The project will add a third passenger terminal at the U-Tapao International Airport near Pattaya, which in normal times is a tourist hot-spot, and develop other facilities like air cargo and aviation …

Bloomberg Air Mauritius administrators are running out of time to save the airline as recurrent expenses pile up, costs of servicing leases for new aircraft accumulate and unions fail to give constructive proposals on job cuts. By the end of March 2021, cumulative losses could reach 9 billion rupees ($225 million) if costs are not cut in the short term, …

Bloomberg Hong Kong’s retail activity extended a decline in April as the coronavirus pandemic continued to constrain global travel. The city’s retail sales by value fell 36.1% from year-ago levels to HK$24.1 billion ($3.1 billion), for a 15th consecutive monthly decline, according to a government release. That’s ahead of the median economists’ forecast for a 40% slump, according to data …