September, 2020

• 16 September

  Shadow banks ride out crisis while virus ravages India

  

  Bloomberg The health of India’s shadow banks remained resilient in August, suggesting that record stimulus steps by the nation’s authorities are helping the crisis-hit sector ride out the coronavirus pandemic. Premiums on non-bank lenders’ bonds narrowed to a two-year low, according to an index of AAA rated five-year notes. Three other indicators compiled by Bloomberg, covering areas including liquidity and …

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• 16 September

  Barclays sets up electronic forex trading system in Singapore

  Bloomberg Barclays Plc will start a foreign exchange trading and pricing engine in Singapore in mid-2021, marking the British lender’s fourth electronic currency trading hub globally. Barclays will build out a local version of the trading system, known as BARX, adding to hubs in New York, London and Tokyo, the London-based bank said in a statement on Wednesday. “FX is …

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• 16 September

  JPMorgan says $200bn may flow out of stocks this quarter

  

  Bloomberg Pension and sovereign wealth funds are set to offload about $200 billion of equities as they rebalance their portfolios, posing a risk for global shares, according to JPMorgan Chase and Company. This would be the most negative quarterly adjustment since the pandemic hit, strategists led by Nikolaos Panigirtzoglou said on Tuesday. The overall figure stems from calculations spanning US …

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• 16 September

  Stocks rally to revive Indian IPOs from the lowest in four years

  

  Bloomberg A drought in India’s initial public offerings (IPOs) might be easing with companies preparing to tap a buoyant stock market after investors piled into two recent sales. A bunch of firms — ranging from a drugmaker to a jeweller — will likely test investor demand over the next few months, helping revive fundraising through first-time sales from the lowest …

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• 16 September

  South African stocks little changed in early trading

  

  Bloomberg South Africa’s main stock benchmark was little changed in early trading on Wednesday as weakness in banks and index heavyweight Richemont countered gains in miners and index giant Naspers Ltd. Investors are awaiting the conclusion of a Federal Reserve meeting to gauge the extent of central bank support for the economic recovery. The Fed is expected to maintain its …

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• 16 September

  IEA: Oil market more fragile as resurgent virus hurts demand

  

  Bloomberg The outlook for global oil markets has grown “even more fragile” as a resurgent pandemic derails the recovery in demand, the International Energy Agency (IEA) said. The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories — which rebounded to record levels in July — won’t subside …

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• 16 September

  Dubai’s dnata quadruples catering capacity in Dublin

  

  DUBAI / WAM Dubai’s dnata, one of the world’s leading air services providers, has commenced operations at its new catering unit in Dublin. The state-of-the art facility quadruples dnata’s catering capacity in the Irish capital, enabling the company to deliver 40,000 quality inflight meals a day for customers. Already serving six airlines from its existing facility in Dublin, dnata’s continued …

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• 16 September

  UAE, Israel sign historic peace accord at White House

  

  Washington / WAM On this historic occasion, the United Arab Emirates (UAE) signed a peace accord with the State of Israel. His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation signed a peace accord with Israeli’s Prime Minister, Benjamin Netanyahu, on behalf of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. …

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• 15 September

  RBA sees Aussie dollar fairly valued, would prefer it lower

  

  Bloomberg Australia’s central bank said the appreciation of the currency was consistent with higher commodity prices — particularly iron ore — while providing no indication that additional monetary measures are imminent. “While members noted that the Australian dollar was broadly aligned with its fundamental determinants, a lower exchange rate would provide more assistance to the Australian economy in its recovery,” …

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• 15 September

  Nigeria to regulate crypto-currencies to protect investors

  

  Bloomberg Nigeria’s Securities and Exchange Commission (SEC) said it will regulate trade in digital currencies to provide protection for investors and to ensure that transactions are transparent. “The general objective of regulation is not to hinder technology or stifle innovation, but to create standards that encourage ethical practices,” the Abuja-based regulator said in an emailed statement. The agency said it’s …

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