July, 2021

• 4 July

  Canada trade balance swings back to deficit on export drop

  Bloomberg Canada’s international trade balance swung into a deficit in May as exports dropped for a second month and imports recovered. The nation posted a merchandise trade gap of C$1.39 billion ($1.1 billion) in May from a revised C$462 million surplus the previous month, Statistics Canada reported in Ottawa. Economists were predicting a surplus of C$440 million. Exports were down ...

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• 4 July

  London ousts Amsterdam as Europe’s top share trading hub

  

  Bloomberg London moved back ahead of Amsterdam as Europe’s largest share trading center in June, reclaiming the top spot for the first time this year after Brexit pushed much of the city’s volumes to the continent. An average 8.92 billion euros ($10.6 billion) of shares a day were traded on various London venues in June, compared with 8.8 billion euros ...

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• 4 July

  Audi seeks to double return on sales by 2025

  Bloomberg Volkswagen AG’s Audi is setting itself ambitious profitability targets even as the luxury-car division expands its electric-vehicle sales efforts, Der Spiegel reported, citing people familiar with the matter. Chief Executive Officer Markus Duesmann plans to make Audi the VW group’s biggest profit contributor, targeting a return on sales of more than 11 percent in 2025, up from 5.5 percent ...

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• 4 July

  UK, EU try to ease travel fears over India’s Astra vaccine

  

  Bloomberg UK Prime Minister Boris Johnson tried to calm concerns among vaccinated Britons that they won’t be able to travel to the European Union this summer because they received a version of AstraZeneca Plc’s Covid-19 shot that was made in India. The vaccine — known as Covishield — isn’t approved by the European Medicines Agency. That has led to some ...

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• 4 July

  Corporate buybacks gain steam with banks set to boost buying

  

  Bloomberg High stock price valuations may be giving some investors pause, but it hasn’t stopped US corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc are among the nation’s biggest lenders that signalled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colours. Banks are joining ...

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• 4 July

  Race to become the vanguard of India’s stock market is on

  

  Bloomberg India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut. After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management versus about 16% two ...

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• 4 July

  Deyaar launches AED1b smart skyscraper in Business Bay

  

  Dubai / Emirates Business Deyaar Development PJSC (Deyaar), one of Dubai’s leading property developers and real estate service providers, on Saturday announced the launch of Regalia, a AED 1 billion luxury skyscraper in Business Bay offering a smart and high-end urban lifestyle embodied by royalty and distinction. Regalia will be the tallest tower Deyaar has ever built. The 70-storey premium ...

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• 4 July

  du, Wipro launch new multi-cloud platform

  

  Dubai / WAM du, from Emirates Integrated Telecommunications Company (EITC), and Wipro Limited, a leading global information technology, consulting and business process services company, on Saturday announced the launch of their new Multi-Cloud Platform. The two companies have partnered to deliver market-leading multi-cloud management and migration capabilities through this platform, which aligns with their aims to simplify and accelerate digital ...

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• 4 July

  MFNCA initiatives attract 19,100 youths in UAE

  Abu Dhabi / WAM The initiatives launched by the Ministry of State for Federal National Council Affairs (MFNCA) drew an impressive turnout of youth with more than 19,100 young Emiratis from around the country taking part. The MFNCA is working on several initiatives specifically directed at young people and designed to enhance their political awareness and create effective channels of ...

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• 4 July

  Abu Dhabi, Israel’s Clalit ink deal to increase cooperation in healthcare

  

  ABU DHABI / WAM Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate of Abu Dhabi, signed a Memorandum of Understanding (MoU) on Saturday with Clalit Health Services, the largest health maintenance organisation in Israel and second largest globally. The MoU aims to pave the way for further cooperation between the two countries ...

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