August, 2021

• 9 August

  Money fleeing China stocks may overlook India: UBS

  

  Bloomberg Investors pulling out of China due to the recent regulatory crackdown may overlook India, where stocks are looking pricey after their climb to successive records, according to UBS Group AG. “The perception of risks in China has gone up and may lead investors to take out money and deploy it into other emerging markets,” Sunil Tirumalai, head of India …

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• 9 August

  Bitcoin, Ether hit highest since mid-May over sentiment

  Bloomberg Bitcoin and Ether reached their highest levels in more than two months after a major Ethereum upgrade and even in the face of uncertainty over crypto rules in the US infrastructure plan. Bitcoin gained as much as 3.1% to $45,328 on August 8, its highest level since May 18. Ether increased as much as 3.5% to $3,191, gaining for …

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• 9 August

  Saudi Aramco Q2 profit soars to 300% on demand recovery

  

  DHAHRAN / WAM The Saudi Arabian Oil Company Aramco announced on Sunday its second quarter 2021 financial results, reporting a 288 percent increase in net income from the same quarter of last year to $25.5 billion and declaring a dividend of $18.8 billion. The Company’s net income for the first half of the year was $47.2 billion, representing a 103 …

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• 8 August

  UAE welcomes appointment of UN special envoy for Yemen

  ABU DHABI / WAM The UAE has welcomed appointment of Hans Grundberg as the UN Special Envoy for Yemen and reiterated its support for all efforts aimed at finding a peaceful solution towards ending Yemeni crisis. The Ministry of Foreign Affairs and International Cooperation praised the pivotal role played by the Kingdom of Saudi Arabia to bring about stability in …

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• 8 August

  US needs to build more, faster to reach net zero

  

  Bloomberg After years of waiting, Infrastructure Week finally happened. US senators reached a bipartisan agreement on a $550 billion infrastructure bill, working through the weekend to finalise the text. Majority Leader Chuck Schumer said the bill could be voted on “in a matter of days.” While Congress was debating the size of the check, researchers at Princeton University’s Andlinger Center …

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• 8 August

  Stocks loved in pandemic get wrath of profit misses

  

  Bloomberg Internet stocks, food delivery companies and online retailers are paying a heavy price for any earnings disappointment. Companies from Asos Plc to Zalando SE and Logitech International SA have all suffered steep stock-market losses in Europe after their results in the past month. It’s a fact that makes companies with sky-high valuations look increasingly volatile, and shows that investors …

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• 8 August

  European stocks post best week since March on profits

  

  Bloomberg European stocks closed steady at a record, posting their biggest weekly gain in five months, as traders assessed a better-than-expected increase in US payrolls and positive earnings against delta variant risks. The Stoxx 600 Europe Index ended flat in London at a historical high, bringing the week’s gain to 1.8%. Banks were the best performers, with ING Groep NV …

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• 8 August

  Kenyan shilling all set for its longest losing streak

  Bloomberg Kenya’s shilling is on track for its longest stretch of weekly losses this year, despite the central bank’s efforts to prop up the currency, as concerns about a surge in Covid-19 infections spurred dollar buying by importers. The East African nation’s currency was trading little changed at 108.72 against the dollar by 9:30 am in the capital, Nairobi, poised …

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• 8 August

  Boeing 737 Max arrives in China for flight tests

  

  Bloomberg A Boeing Co 737 Max 7 has arrived at the Shangai airport for flight tests by Chinese authorities, the Paper reported. Chinese aviation officials last month signalled they are open to conducting flight tests on the plane in a step towards lifting its grounding after more than two years. China was the first nation to ground the Max, acting …

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• 8 August

  Airbus A321 delays flare as planemaker begins ramp up

  

  Bloomberg Airbus SE has encountered issues with the production of its flagship narrow-body model, just as it begins ramping up jetliner build rates following coronavirus lockdowns. Customer Air Lease Corp said on an analyst call that some A321neo handovers due this year have been pushed back as Airbus struggles with pandemic and supply-chain issues. The lessor added in a filing …

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