Bloomberg Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of an easing in the nationwide lockdown. The US dollar-Singapore dollar pair has failed to break below technical support at its one-month low, suggesting its next move could well be higher. Data this week is expected to show the nation’s economy contracted 1.8% y/y in ...

Bloomberg Investec Chief Executive Officer Fani Titi saw a sign of things to come when he dropped by the bank’s headquarters last week. The usually buzzing escalators that criss-cross the four-story building in Sandton, South Africa’s business capital, were eerily silent. He was one of only 440 employees in an office block normally occupied by 10 times that number. Two ...

Bloomberg Deutsche Bank AG asked its top managers to join executive committee in foregoing a month’s pay after the lender resumed a sweeping job cuts program to reduce expenses. “As our restructuring plans progress, the management board and the group management committee have decided to lead by example and give a broader group of senior managers the opportunity to be ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has congratulated President His Highness Sheikh Khalifa bin Zayed Al Nahyan, on the occasion of Eid al-Fitr. He wished President His Highness Sheikh Khalifa good health and well-being to continue the nation’s development drive, ...

Bloomberg Oil fell, paring a weekly gain, as investors weighed improving supply fundamentals against doubts surrounding China’s economic growth. Futures in New York slid 2% but notched a 13% increase for the week. Major producers continue to scale back production. US explorers laid down another 21 oil rigs, bringing the total to the lowest since 2009. Beijing abandoned its economic ...

Bloomberg China’s banking regulator is asking big banks to maintain annual growth of at least 5% in outstanding loans to the manufacturing sector, the Shanghai Securities News reported on Saturday. By the end of 2020, the ratio of mid-to-long term loans to the sector should rise by 1 percentage point compared to the start of the year, the newspaper reported, ...

NEW YORK / WAM UN Secretary-General Antonio Guterres has saluted the efforts of the Higher Committee of Human Fraternity for the 14 May Global Prayer for Humanity, “as inspired by the interfaith leadership of His Holiness Pope Francis, the Grand Imam of Al Azhar Sheikh Ahmed Al Tayeb, and many others.” In a statement following a virtual meeting with the ...

Bloomberg Indian Railways will start 200 additional trains from June 1 to ferry passengers as the nation gradually eases coronavirus lockdown restrictions. Tickets will be sold online and through physical booking windows, Vinod Kumar Yadav, Chairman of the Railway Board, said in a televised address to reporters. Passengers will be screened at the stations and only those without symptoms will ...

Bloomberg Russian President Vladimir Putin gave his government until June 15 to come up with a plan to support the country’s oil industry while output is slashed under an agreement among the world’s main producers. Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian Railways JSC will charge for transporting crude and petroleum products ...

DUBAI / WAM Dubai Customs has announced the official working hours at its customs centres during the Eid Al Fitr holiday, to help individuals and companies clear their goods without any delay. Air customs centres at Dubai Cargo Village, Dubai Airport Free Zone- gate number (5), Al Maktoum Airport Cargo Centre, and inspection section at Dubai Multi Commodities Centre will ...