Bloomberg Societe Generale SA (SocGen) plans to cut 640 jobs in France, mainly at its investment-banking operations, as part of a broader cost savings plan. Part of the reduction relates to SocGen’s decision to stop trading in some of its risker structured products, the bank said in a statement on Monday. The securities business as well as compliance and risk ...

Bloomberg Global equities rallied to a record high amid optimism about the outlook under a Joe Biden presidency. The dollar extended declines. Last week’s embrace of risk continued on Monday after Biden was declared the winner of the US election over the weekend. S&P 500 futures rise about 1.5%, building on the strongest week since April for the benchmark, as ...

Bloomberg India’s benchmark equity index is on course for a record close after Democrat Joe Biden was declared the winner in the US election, ending uncertainty of a prolonged process in deciding a victor. The benchmark S&P BSE Sensex index climbed 1.5% to 42,512.19 as of 10:12 am in Mumbai, set to finish higher than the previous record in January. ...

Abu Dhabi / WAM The Emirates Mars Mission (EMM), the first interplanetary mission undertaken by an Arab nation, on Sunday announced the successful completion of TCM3 – its third and last major trajectory correction maneuver. Mars Hope’s arrival and Mars Orbit Insertion (MOI) will mean the United Arab Emirates will become the fifth nation to reach the Red planet. With ...

Bloomberg China’s purchases of key commodities fall in October from the prior month, mainly because of seasonal factors including an extended holiday at the start of the month in the world’s biggest buyer of raw materials. While the nation’s broader imports couldn’t hold September’s heady pace, slumping to below-consensus growth of 4.7%, “a second straight monthly expansion suggests a continuous ...

Abu Dhabi / WAM In line with its drive to strengthen the UAE’s leading role in fight against Covid-19 pandemic on an international scale, Mubadala Healthcare is part-funding the trial of an immune-dampening drug in the UK that will help patients with diabetes overcome effects of the virus. If successful, the compound could ultimately be prescribed by a primary care ...

Abu Dhabi / WAM Ryse Energy, a global leader in renewable off-grid energy systems, with over 4,000 installations across all seven continents, moved to Masdar City, Abu Dhabi, to expand into new markets. Discussing Ryse Energy’s UAE growth plans, Alistair Munro, founder and CEO, said, “Ryse Energy is a global leader in renewable off-grid energy systems, and as a primary ...

Abu Dhabi / WAM Etihad on Sunday announced a new organisational structure that will position the business to deliver on its mandate in the wake of Covid-19 and meet the challenges of the global downturn in aviation head on. The restructuring sees the airline continuing its transformation into a mid-sized, full-service carrier concentrating on its fleet of widebody aircraft, with ...

Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) announced that UAE nationals holding diplomatic, special and mission passports can now travel to the Republic of Peru without pre-entry visas and for stays of up to 90 days for each visit. Emiratis holding normal passports can now travel visa-free to Peru for stays of up to ...

Abu Dhabi / Emirates Business As part of the Authority of Social Contribution – Ma’an’s drive to facilitate meaningful volunteering opportunities, the organisation launched its new ‘Community Volunteers’ programme, the pioneering new volunteering model, created to enable the government to have an active role in implementing volunteering opportunities, working towards strengthening cohesion with employees’ families and communities. The first phase ...