July, 2021

• 7 July

  New Zealand’s bond yields, currency rises

  

  Bloomberg New Zealand’s currency and short-dated bond yields surged after an upbeat business survey drove traders to bring forward rate-hike expectations, with markets now pricing a total unwind of pandemic-fuelled rate cuts by the end of 2022. The kiwi jumped 1.1%, while the benchmark 2024 bond yields gained as much as nine basis points on Tuesday to hit the highest ...

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• 7 July

  Goldman to move Tokyo headquarters

  Bloomberg Goldman Sachs Group Inc is preparing to move its Japan headquarters into a new tower being built in Tokyo as the Wall Street firm adapts to office life after the pandemic. The US investment bank plans to relocate from the landmark Roppongi Hills complex owned by Mori Building Co into the developer’s tentatively named Toranomon Hills Station Tower sometime ...

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• 7 July

  Australia’s central bank expects record low rates until 2024

  

  Bloomberg Australia’s central bank (RBA) took the first steps towards dialing back its emergency stimulus for an economy that’s exceeded expectations, even as Governor Philip Lowe warned persistently weak inflation would likely see him trail global counterparts in raising interest rates. The Reserve Bank opted against extending its yield-target horizon beyond April 2024 and scaled back purchases of longer-dated bonds ...

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• 7 July

  Didi loses $22bn in market cap after China crackdown

  

  Bloomberg Didi Global Inc plunged in premarket trading after a Chinese regulator ordered the removal of the company’s platform from app stores, days after a $4.4 billion initial public offering (IPOs) in the US. Shares of the China-based tech firm fell as much as 30% to $10.90, taking them below the $14 IPO price. They traded at $11.90 as of ...

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• 7 July

  Indian bonds slide as RBI’s choice of purchase papers disappoint

  

  Bloomberg Indian sovereign bonds slumped as the central bank’s choice of relatively illiquid papers for its bond-purchase program disappointed traders. Surging global oil prices also weighed on sentiment. The yield on the 5.63% bond maturing in 2026 rises as much as nine basis points to 5.85%, while the 6.64% 2035 bond yield climbed five basis points. The benchmark 10-year yield ...

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• 6 July

  UAE becomes leading investment hub for global healthcare sector

  

  UMM AL QAIWAIN / WAM The UAE has become a leading investment hub for the global healthcare sector, according to business owners, companies and investment experts. Incredible facilities and stellar services, have enhanced the allure of the UAE’s business environment, which continues to attract local and foreign entities to invest in this vital sector. In a statement to the Emirates ...

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• 6 July

  UAE jobs rise most in 2 years as business conditions improve

  

  Bloomberg Employment in the United Arab Emirates rose at the fastest pace in more than two years in June, according to IHS Markit, as the Middle East’s business and travel hub gradually recovers from the pandemic-led downturn that resulted in job shedding last year. The first increase in employment since January pointed to gains for the economy. But non-oil business ...

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• 6 July

  UAE leaders condole Cyprus president on forest fire’s victims

  Abu Dhabi / WAM President HH Sheikh Khalifa bin Zayed Al Nahyan has sent a message of condolences to President Nicos Anastasiades of Cyprus on the victims of the forest fires that erupted north of the cities of Limassol and Larnaca. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and His Highness ...

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• 6 July

  Enoc renews pact with Meisheng for lubricants distribution in China

  

  DUBAI / WAM Enoc Group has renewed its agreement with Meisheng Investment Development Co Ltd for another five years, for the exclusive supply and distribution of Enoc Lubricant products in China. The agreement enables Enoc to achieve its ambitious plans of distributing more than 20 million litres of products over the next five years; meeting the increasing demand for lubricants, ...

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• 6 July

  UAE envoy, Kuwaiti official discuss ties

  

  KUWAIT / WAM Dr Matar Hamed Al Neyadi, UAE Ambassador to Kuwait, has met with Marzouq Ali Al-Ghanim, Speaker of the National Assembly of Kuwait, and discussed means of developing relations between the two countries along with a number of issues of common concern. During the meeting, held at Al-Ghanim’s office at the National Assembly, the ambassador affirmed the UAE’s ...

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