October, 2019

• 14 October

  China wants more talks before signing trade deal

  

  Bloomberg China wants to hold more talks this month to hammer out the details of the “phase one” trade deal touted by Donald Trump before Xi Jinping agrees to sign it, according to people familiar with the matter. Beijing may send a delegation led by Vice Premier Liu He, China’s top negotiator, to finalise a written deal that could be …

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• 14 October

  Banks invest AED10.3b in bonds over 8 months

  

  ABU DHABI / WAM Banks operating in the UAE increased their investments in bonds since the beginning of 2019 to make for losses caused by a fall in proceeds from their other investment instruments, including loans. The value of investments in bonds by banks during the first eight months of 2019 amounted to AED10.3 billion, which increased their total investments …

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• 14 October

  World loses $400bn of food before it reaches stores: UN

  

  Bloomberg The world loses about $400 billion of food before it even gets delivered to stores, according to the United Nations. Some 14% of all food produced is lost annually, with central and southern Asia, North America and Europe accounting for the biggest shares, the UN’s Food and Agriculture Organisation (FAO) said in a report, citing the latest data as of …

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• 14 October

  Oil drops after biggest gain in a month

  Bloomberg Oil slid after surging the most in almost a month amid doubts that recent progress in the US-China trade talks will compensate for a worsening global demand outlook. Futures in New York fell as much as 2.6% after gaining 2.2% in the previous session. Despite positive momentum in the trade negotiations, and an array of threats to oil supply …

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• 14 October

  Total buys 37.4% stake in Adani Gas for $600m

  

  Bloomberg French energy giant Total SA is spending $600 million to expand its presence in one of the world’s fastest-growing natural gas markets. Total agreed to purchase a 37.4% stake in India’s Adani Gas Ltd., a distributor of the fuel that’s developing import terminals and a national chain of vehicle-filling outlets. The deal gives the French company a footprint in …

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• 14 October

  Stocks decline as investors weigh prospects of trade

  

  Bloomberg US equity futures dropped alongside stocks in Europe after China appeared to pour cold water on a partial trade deal touted by Donald Trump, saying it wanted to iron out details before signing it. European bonds gained. Contracts on the three main equity indexes signalled US stocks may run out of steam after the S&P 500 rose to within …

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• 14 October

  Pound drops from 3-month high on Brexit reality check

  

  Bloomberg The pound pulled back from a three-month high and UK government bonds rallied as traders reassessed the prospect of the UK securing a Brexit deal this week. Sterling dropped as much as 0.9% against the dollar after surging 3.8% during the previous two days amid optimism the two sides would reach an agreement to avoid a no-deal. The European …

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• 14 October

  Singapore central bank hints more easing amid growth risks

  

  Bloomberg Singapore’s central bank signaled it’s ready to adjust monetary policy further after easing on Monday for the first time since 2016 as risks to the economic growth outlook persist. The Monetary Authority of Singapore (MAS), which uses the exchange rate as its main policy tool, reduced “slightly the rate of appreciation” of the currency band and said it’s prepared …

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• 14 October

  Low rates may risk more severe downturns:BOE

  

  Bloomberg A prolonged period of low interest rates risks making economic downturns more severe, according to Bank of England (BOE) deputy governor Jon Cunliffe. Speaking in London, Cunliffe said the drop in long-term market rates in developed economies partly reflected an over-pessimism about long-term prospects, and was also part of a structural trend. One “challenge of low for longer for …

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• 14 October

  India’s HDFC surrounded by lending crisis

  

  Bloomberg All around HDFC Bank Ltd, India’s biggest lender by market value, the news seems to be bad and getting worse: economic growth is slowing, loan losses are rising and shadow banks are mired in crisis. And yet investors keep piling into HDFC Bank’s stock, convinced it will emerge a winner from India’s financial woes. The company’s market value has …

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