June, 2020

• 25 June

  India stocks drop in volatile trading

  

  Bloomberg Indian stocks declined in volatile trading as investors weighed the worsening economic outlook with the novel coronavirus continuing to spread. The S&P BSE Sensex fell 0.5% to 34,695.76 in Mumbai, while the NSE Nifty 50 Index dropped 0.4% after both gauges earlier erased losses to gain as much as 0.5%. The measures are both set for their best quarter …

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• 24 June

  Covid-19: UAE launches world’s first phase III clinical trial of vaccine

  

  Abu Dhabi / WAM Following a ceremony via video conference between Abu Dhabi and Beijing, health authorities from the UAE have announced the commencement of the world’s first phase III clinical trial of a Covid-19 inactivated vaccine. Inspired by the UAE Leadership’s vision and commitment to overcome the pandemic through a global collaborative effort, a clinical cooperation agreement was signed …

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• 24 June

  Oil declines near $40 with rising inventories, dollar

  

  Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last …

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• 24 June

  Iceland is getting another brand new carrier, Play Air

  

  Bloomberg Airlines may be struggling to survive the industry’s worst-ever downturn, but investors in Iceland reckon the time is ripe to launch a brand new carrier. Play Air aims to commence flights this fall with a plan borrowed from Wow Air Hf, which collapsed in 2019. Like Wow, it will seek to exploit Iceland’s position in the North Atlantic to …

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• 24 June

  Pilot, ATC blamed for Pakistan plane crash

  

  Bloomberg Pakistan said the Airbus SE A320 crash in a Karachi neighbourhood last month happened because of errors made by the pilot and air traffic controllers (ATC). Both engines of the state-run Pakistan International Airlines Corp plane were damaged during the first failed attempt at landing at the airport, aviation minister Ghulam Sarwar Khan told lawmakers in parliament. The aircraft …

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• 24 June

  EasyJet lawsuit over data breach attracts around 10,000 travellers

  

  Bloomberg EasyJet Plc faces a lawsuit over a data breach disclosed last month that potentially exposed private details of 9 million passengers. More than 10,000 people have joined the suit since it was filed last month, according to law firm PGMBM. Victims are entitled to as much as 2,000 pounds ($2,500) in compensation, meaning the case could be worth as …

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• 24 June

  Flyers hiding virus infection show risks of reopening borders

  

  Bloomberg People infected with the coronavirus were allowed to board aircraft and travel to Hong Kong in recent days, highlighting the challenge of controlling the pandemic at the same time governments seek the safest ways to reopen borders. Hong Kong’s health authority said one infected passenger arrived from Manila on a Cathay Pacific Airways Ltd flight, and another was on …

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• 24 June

  Japan retailers gain after surge in sales

  Bloomberg Shares in a range of Japanese retailers gained following a surge in sales at furniture depot Nitori Holdings Co and casual fashion retailer Shimamura Co, an early indication of pent-up demand from local shoppers as the threat of the coronavirus subsided. Nitori same-store sales jumped 47% in June from the previous year, the most on record in data going …

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• 24 June

  S Africa willing to cede control of airline

  Bloomberg South Africa’s government plans to retain a minority shareholding in South African Airways, the national airline that has been in bankruptcy protection for the last six months, while ceding management control to its investors, an official said. “We are not obsessed with control,” Kgathatso Tlhakudi, deputy director-general at department of public enterprises, said in an interview on Johannesburg-based Radio …

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• 24 June

  European stocks, US futures slide as cases of Covid-19 rise

  

  Bloomberg European stocks and US futures slumped as a resurgence in virus cases in Tokyo, Germany and the American South sharpened concern about the pace of economic recovery. The Stoxx Europe 600 Index fell the most in a week with losses across all major industries. Oil and copper retreated, while the dollar steadied. Austria is selling another 100-year bond, locking …

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