February, 2021

• 8 February

  President warns to raise taxes on farm exports in Argentina

  

  Bloomberg President Alberto Fernandez of Argentina, one of the world’s powerhouse food suppliers, is threatening farmers with a tax hike or quota for exports as he seeks relief for families grappling with inflation that’s forecast to reach 47% this year. If the farm industry continues to sell food at home for the same prices at which it exports, the government ...

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• 8 February

  France raises aid for pharma industry

  Bloomberg The French government said it will provide another 300 million euros for projects to quickly increase the production of vaccines and treatments for Covid, extending its previous pledges of state aid for the pharmaceutical sector. Last year, the French government picked 17 projects for a total of 160 million euros of aid covering both mature and innovative medicines. Those ...

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• 8 February

  US can return to full employment next year: Yellen

  

  Bloomberg Treasury Secretary Janet Yellen said the US can return to full employment in 2022 if it enacts a robust enough coronavirus stimulus package, but otherwise risks a slower rebound in jobs and the economy. “I’m afraid that the job market is stalling,” she said on CBS’s “Face the Nation,” in one of two interviews. Yellen said that low-wage earners, ...

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• 8 February

  Hong Kong stocks about to lose biggest source of funds

  

  Bloomberg Hong Kong’s stock traders are about to find out whether the $7.3 trillion market can hold its own without its biggest source of flows. Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through February 17 due to the Lunar New Year holiday. The stock connect closure will slam the ...

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• 8 February

  Stocks hit record as Brent oil reaches $60

  

  Bloomberg Global stocks rise to a record on reflation bets after Janet Yellen pushed for rapid US stimulus and coronavirus infections slowed across the globe. Brent oil advanced above $60 a barrel for this first time in more than a year. US equity futures received a boost from comments by Treasury Secretary Yellen that the US can return to full ...

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• 8 February

  DLD issues 32,000 electronic Prestige cards to VIP owners

  

  DUBAI / WAM Dubai Land Department (DLD) announced that its electronic Prestige Cards programme for VIP owners achieved exceptional performance success shortly following the initiative’s launch in December 2020, whereby DLD issued over 32,000 cards from its four categories, comprising 73 platinum cards, 258 diamond cards, 1,950 gold cards, and 28,829 silver cards, while 1,027 crown cards were issued for ...

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• 8 February

  ECI, local council join hands to support Emirati investments

  

  Abu Dhabi / WAM Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with the UAE International Invers Council (UAEIIC) to support Emirati investments abroad and protect UAE export businesses globally. Both ECI and UAEIIC have the mandate to accelerate national economic diversification and sustain the competitiveness of businesses operating in the UAE. The alliance will help ...

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• 8 February

  UAE welcomes lifting of ban on flights to Denmark

  

  ABU DHABI / WAM The United Arab Emirates has welcomed the decision by the Kingdom of Denmark to lift the temporary suspension on flights originating from the UAE starting from February 7. The decision by Danish authorities to require travellers from all countries to receive a negative PCR test result 24 hours prior to travel and quarantine for a period ...

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• 8 February

  Arab coalition destroys Houthi armed drone towards Saudi

  RIYADH / WAM The Joint Coalition Forces have intercepted and destroyed this evening additional bomb-laden UAVs. This was stated by the official Spokesman of the Coalition to Restore Legitimacy in Yemen Brigadier General Turki Al-Malki. “A total of (4) bomb-laden UAVs launched systematically and deliberately by the terrorist Houthi militia to target civilians and civilian objects in the Southern Region ...

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• 8 February

  Oil stages remarkable rebound from one year of catastrophe

  

  Bloomberg One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround. The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought viciously over customers, ...

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