July, 2022

• 26 July

  Pence shows distance from Trump with speech hinting at 2024 run

  

    Bloomberg Mike Pence is getting a one-day head start on rallying the Republican base in Washington before his former boss, Donald Trump, returns to the US capital for the first time since the violent end to his presidency. The timing of the speeches —Pence on Monday, Trump on Tuesday —is shaping up as a contest between the two men. ...

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• 26 July

  Myanmar executes activists in first use of death penalty in decades

  

  Bloomberg Myanmar’s military regime has executed four individuals, including a deposed pro-democracy lawmaker and a prominent activist, in its first use of the death penalty in over three decades, state media reported on Monday. Kyaw Min Yu, also known as Jimmy, a leader of the activist group that opposed former dictator Ne Win, and Phyo Zeya Thaw, a civilian lawmaker ...

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• 25 July

  Truss, Sunak rivalry turns bitter before TV debate

    Bloomberg After a televised Conservative leadership debate exposed the stark divisions among rivals vying to be the next UK prime minister, Rishi Sunak turned to Liz Truss and asked: “Why are we doing this?” Both are now in the runoff to succeed Boris Johnson as Tory party leader. Yet any intentions to try to temper so-called blue-on-blue attacks ahead ...

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• 25 July

  Washington embraces strong greenback to ease inflation

  

  Bloomberg The surge in the dollar this month to its strongest levels in decades has won a tacit endorsement from Washington, offering little official restraint to the currency in a notable shift from past occasions. Congressional hearings with key policy makers including Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell have seen barely a mention of the greenback’s ...

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• 25 July

  As rupee falls, RBI may be back to spot intervention

  

  Bloomberg India’s central bank may be pivoting to the spot market from forwards in its attempts to shield the rupee from fresh record lows — in order to minimise the knock-on effects of its intervention strategy. Reserve Bank of India’s (RBI) foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its ...

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• 25 July

  Worst of market selloff may be over: Julius Baer

  

    Bloomberg Julius Baer Group Ltd said the worst of the market selloff may be over for the Swiss wealth manager after a first half that was one of the most difficult in decades. Clients have started to come back and will probably look for ways to make money again in the second half, CEO Philipp Rickenbacher said. First-half profit ...

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• 25 July

  US futures rise as investors look to tech earnings, Fed

  

    Bloomberg Stocks and US equity futures reversed earlier declines on Monday as earnings expectations outweighed concerns about a possible recession. S&P 500 and Nasdaq 100 futures rose, while European stocks extended gains after their best week since May. China’s property shares pushed higher amid a report that officials plan a fund to support struggling developers. Treasury yields advanced and ...

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• 25 July

  Chinese property stocks, bonds rally on fund help

  

    Bloomberg Chinese property stocks and dollar bonds rallied on Monday, as a reported move by Beijing to establish a fund to support developers fuelled optimism about a turnaround for the struggling sector. A Bloomberg Intelligence index of the country’s real estate firms jumped 1.7%, the most in a week. China’s high-yield dollar notes, predominately issued by developers, rose at ...

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• 25 July

  Oil declines for third week with anemic demand, economic data

  

  Bloomberg Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market’s outlook. West Texas Intermediate falls 1.7% to slip below $95 a barrel in a choppy session. Crude posted a weekly decline as broader markets swayed oil prices in sessions characterised by sharp swings and low liquidity. On July 22, ...

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• 25 July

  UAE announces private sector holiday for Islamic New Year

    DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced that Saturday, July 30, will be an official paid holiday for all private sector employees in the UAE on the occasion of Islamic New Year, 1444 AH. This comes in line with the decree issued by the UAE cabinet to unify the number of holidays between ...

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