Bloomberg Stocks edged down in Europe alongside US index futures while bonds turned higher as investors waited for word on whether fresh fiscal stimulus will get approvals in the world’s largest economy. Declines in health-care and food shares pulled the Stoxx Europe 600 Index lower after it briefly opened higher on the heels of a tech-fuelled rally on Wall Street ...

Bloomberg Hong Kong stocks saw a sudden spike in afternoon trading on Tuesday, with property shares leading the advance. The Hang Seng Index rose 2% at the close as inflows from across the border continued for a seventh day. Before the advance, the gauge had fallen for three straight sessions. A measure of property stocks listed in the city increased ...

Bloomberg India’s equity benchmark is set to snap its longest losing streak since March following a global rally in equities. The S&P BSE Sensex rose 1% to 37,324.84 as of 10:25 am in Mumbai. The gauge had declined in six of the last seven sessions as some investors judged its rebound from March lows as overdone in the backdrop of ...

Bloomberg Global remittances could fall by as much as $108.6 billion in 2020 if it takes a year to contain the coronavirus pandemic and reopen economies, according to Asian Development Bank (ADB) economists. “Migrant workers are among the hardest hit groups, with many facing scant job security and limited access to social assistances,” ADB economists James Villafuerte and Aiko Kikkawa ...

ABU DHABI / WAM Driven by powerhouse realty and bank shares, the listed companies in UAE financial markets posted combined gains of AED15.8 billion ($4.30 billion) in market cap on the first trading day of the month. Abu Dhabi’s main stocks index was up 0.45% to 4,324 points on Monday, driven by gains by some of blue chips, with DFM’s ...

Dubai / WAM Air Arabia Abu Dhabi, the capital’s first low-cost carrier, announced the introduction of two new destinations — Kabul in Afghanistan and Dhaka in Bangladesh with direct flights from Abu Dhabi commencing on August 7. Air Arabia Abu Dhabi was formed following an agreement by Etihad Airways and Air Arabia to establish the capital’s first low-cost carrier that ...

Bloomberg Oil edged below $40 a barrel in New York as Opec and allied producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus. Opec+ will pump about 1.5 million barrels more this month than in July as it starts to unwind its historic virus-driven output curbs, with Russia already having ...

Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), on Monday announced it has successfully upgraded its existing Integrated Building Management System (IBMS) that looks after 40 buildings within Dubai Silicon Oasis (DSO) to an Artificial Intelligence (AI) enabled IBMS. The system connects almost 60,000 points of control from all the buildings ...

Dubai / Emirates Business Emirates announced that it will deploy its iconic A380 aircraft to Guangzhou from August 8. The airline has also restarted its A380 operations to Amsterdam and Cairo this week, and introduced a second daily A380 service to London Heathrow, serving market demand and offering customers more travel options. Emirates has so far resumed A380 services to ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the first physical meeting of the new cabinet at the Presidential Place in Abu Dhabi, after a series of remote meetings. At the beginning of the meeting, His Highness Sheikh Mohammed bin Rashid hailed UAE’s ...