Bloomberg Australia’s central bank does little deliberation, ignores opposing views and its decision-makers “seem hostile to a consideration of evidence or research,” according to Peter Tulip, a former senior member of its economic research department. “We have a board that does not understand monetary policy or statistical research,” Tulip said in a farewell email to colleagues when he resigned from ...

Bloomberg While Amazon.com Inc. and its FANG cohort have grabbed the headlines, some of the biggest stock-market winners in Europe during the coronavirus pandemic may be companies you’ve never heard of. Investors seeking stellar returns have been snapping up shares of small companies that range from e-commerce merchants to mobile-game makers. Shares of German retailers Westwing Group AG and Home24 ...

Bloomberg First it was a shouting match of a presidential debate that raised doubts about the sanctity of the electoral process, then news Donald Trump had fallen ill with Covid-19. The S&P 500’s verdict on such a nerve-wracking week? Up 1.5%. Even with the decline on the president’s diagnosis, stocks managed enough buoyancy over the first four days to come ...

Abu Dhabi / WAM The Ministry of Presidential Affairs, in coordination with the National Emergency Crisis and Disaster Management Authority (NCEMA) announced the re-opening of the Sheikh Zayed Grand Mosque (SZGM) both in Abu Dhabi and Fujairah as well as the Founder’s Memorial in the UAE capital, to visitors from Sunday. The reopening will pursue a high-standard system of precautionary ...

Bloomberg Oil falls in New York and the global benchmark Brent plummeted to the lowest level since June after President Donald Trump’s positive Covid-19 diagnosis combined with labour market weakness heightened concerns over an economic recovery. US crude futures declined 4.3% and Brent slid below $40 a barrel in volatile trading. A top World Health Organisation (WHO) official said the ...

Ajman / WAM Dar Al Ber Society has started work on an endowment project, Al Jurf 2 in Ajman, at a total cost of AED47 million, to join its series of endowment projects in the UAE, which is a new residential building, consisting of 14 floors. Muhammad Suhail Al Muhairi, Executive Director of Dar Al Ber Society, said, “The project ...

Dubai / WAM Saeed Mohammed Al Tayer, Vice Chairman of Dubai Supreme Council of Energy (DSCE) announced that Dubai launched region’s first Association of District Cooling Operators to enhance efficiency of district cooling operations and optimise water and energy resources. “The association, which is an official, recognised platform, aims to raise efficiency of district cooling plants and create a roadmap ...

Bloomberg India will subsidise interest costs for small borrowers who had availed of a six-month loan repayment holiday to survive as the pandemic devastated cash flows, according to court documents seen by Bloomberg. Prime Minister Narendra Modi’s government will pay the “interest on interest” on loans of as much as 20 million rupees ($273,000) for the duration of the Reserve ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) on Saturday signed a Memorandum of Understanding with the Dubai Islamic Economy Development Centre (DIEDC) to reinforce and expand the reach of the Islamic banking sector, and to advance cooperation in areas of mutual interest. Saif Hadef Al Shamsi, Deputy Governor of the central bank of the UAE, and ...

DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has directed changes to be made to the travel protocols for passengers arriving or departing from Dubai. The revisions to the protocols aim to ease hassles for passengers and exempt citizens from additional procedures ...