Bloomberg Oil rose, reversing earlier declines, as the European Central Bank said it may pump more stimulus into the region’s economy and the Organization of Petroleum Exporting Countries (Opec) and its allies made progress in setting a date to discuss extending supply cuts. Futures gained as much as 4.5 percent in New York. The Organization of Petroleum Exporting Countries and …

ABU DHABI / WAM The United Arab Emirates drew up to AED111.7 billion in FDI flows during the period from 2016 through 2018, bringing its overall volume of foreign investments to circa AED511 billion. According to the World Investment Report 2019, released by the United Nations Conference on Trade and Development, the UAE ranked 27th globally in attracting FDI flows …

ABU DHABI / WAM Abu Dhabi-based maintenance, repair and overhaul (MRO) provider, Sanad Aerotech, has announced its expanding its international customers network in Eastern Europe, signing two maintenance agreements with Russian Nordwind and Bulgarian BH Air. The partnership agreements come after Sanad Aerotech and Rolls-Royce announced a landmark $6.5 billion engine maintenance agreement including component repair to operators globally over …

ABU DHABI / WAM Japan is drastically reforming its defence organisations to deal with new combat situations that require a combination of conventional warfare and the new domains of space, cyberspace and the electromagnetic spectrum, a top Japanese defence official told the Emirates News Agency (WAM) on Monday. There is potential for further defence cooperation with UAE in such new …

Bloomberg New home price growth in China quickened last month after government measures to spur demand in smaller cities took effect. The average value of new homes in 70 major cities around Asia’s biggest economy, excluding government-subsidised housing, rose 0.71 percent in May, according to data released by statistics bureau. That’s faster than an increase of 0.62 percent in April …

Bloomberg Stocks rallied with bonds on Tuesday as comments from ECB officials added fuel to investors’ hopes for easier monetary policies from the world’s biggest central banks. Futures on the S&P 500, Nasdaq 100 and Dow Jones indexes advanced along with the Stoxx Europe 600, while Japan’s Topix bucked the trend as most Asian gauges rose earlier. The euro turned …

Bloomberg MoneyGram International Inc soared as much as 155 percent in early trading after a tie-up with blockchain-technology company Ripple. The rally is reminiscent of late 2017, when a wave of small-cap stocks saw valuations multiply as they re-branded as blockchain companies. The difference is that MoneyGram is an established company with about 2,400 staff and $1.4 billion in annual …

Bloomberg Financial markets have gotten used to the Federal Reserve adjusting its benchmark interest rate in small increments. They might want to be ready for a change. While no move is expected as officials gather this week, economists and investors generally agree the Fed is going to cut rates this year. The last two times the Fed began an easing …

Bloomberg Mario Draghi nudged the European Central Bank (ECB) closer to pumping more monetary stimulus into the economy, highlighting that “lingering” risks are strengthening the case for action. The ECB president said at the institution’s annual forum in Sintra, Portugal, that “additional stimulus will be required” if the economic outlook doesn’t improve. He said the commitment to keeping interest rates …

Bloomberg Malaysia’s large banks have the highest board representation for women across the Southeast Asian region, outpacing peers in Singapore and the Philippines where the proportion is below 15 percent. Women make up more than 30 percent of the boards of top Malaysian lenders, compared with only 9 percent on average in the Philippines, and 13 percent in Singapore, according …