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Bloomberg In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work. Overseas acquisitions by Chinese firms are heading for their fourth consecutive yearly decline, with a $31.1 billion tally that’s the lowest since 2007, according to data compiled by Bloomberg. Transactions targeting Latin America ...
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December, 2020
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28 December
Global stocks, equity futures climb; dollar edges lower
Bloomberg US equity futures and global stocks pushed higher on Monday after President Donald Trump signed a coronavirus stimulus package. S&P 500 contracts climbed after Trump backed down from last-minute demands and approved the combined $2.3 trillion Covid-19 relief and government funding package. Germany’s DAX Index climbed to a record and the MSCI Asia Pacific Index was up 0.4%. The ...
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28 December
India stocks advance to fresh records on steady foreign inflows
Bloomberg India stocks rise as inflows from foreign investors headed for a record quarter. The S&P BSE Sensex climbed 0.8% to 47,353.75 in Mumbai. The NSE Nifty 50 Index advanced 0.9%. Both gauges closed at fresh all-time highs. Indian equities have surged as part of a global shift by investors into emerging markets as countries begin rolling out vaccines. The ...
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28 December
South African stocks slide
Bloomberg South Africa’s main equities index fall, led by Naspers Ltd and its Prosus NV unit after Hong Kong-listed Tencent Holdings slumped amid a widening Chinese antitrust probe of the technology sector. With a stake of about 31%, Prosus is Tencent’s largest shareholder. The benchmark FTSE/JSE Africa All Share Index falls 0.8% to 58,721 in Johannesburg, with cyclical sectors including ...
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28 December
UAE on frontlines to combat spread of epidemics globally
ABU DHABI / WAM The UAE is on the frontlines of combatting the spread of epidemics globally, and is one of the key supporters of the international efforts to prevent the spread of many viral diseases that pose serious threats to human safety. The UAE celebrated annual International Day of Epidemic Preparedness on December 27, which was launched by the ...
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28 December
Mohammed approves AED57.1b Dubai budget
DUBAI / WAM In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, approved the Government of Dubai’s general budget for the fiscal year 2021, with total expenditures of AED57.1 billion. The newly-announced budget takes into account the exceptional economic conditions of the fiscal year 2020 and ...
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28 December
Sheikh Khalifa issues law to set up council for economic affairs
Abu Dhabi / WAM In his capacity as Ruler of Abu Dhabi, President HH Sheikh Khalifa bin Zayed Al Nahyan has issued a law to establish the Supreme Council for Financial and Economic Affairs, to oversee all matters related to the emirate’s financial, investment, economic, petroleum and natural resources affairs. The decree stipulates the members are: H.H. Sheikh Hazza bin ...
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28 December
Sharjah Ruler okays AED33.6bn budget
Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the general budget for the Emirate of Sharjah of AED 33.6 billion for the fiscal year 2021. According to Sharjah Finance Department (SFD), the budget has increased 12 per cent compared to the final 2020 budget with the aim ...
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28 December
Benefits lapse for millions as Trump fails to approve economic relief bill
Bloomberg Millions of Americans will see their unemployment benefits lapse, at least temporarily, after President Donald Trump let it the night pass without signing a bipartisan stimulus package containing various pandemic aid. While the president dug in over the size of direct checks to be sent to many Americans, the $900 billion stimulus accord contains numerous other measures, including extended ...
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28 December
First ship unloads at new Khalifa Port’s South Quay
ABU DHABI / WAM The first shipment, carrying bauxite, destined for Emirates Global Aluminium (EGA)’s Al Taweelah alumina refinery, anchored at Khalifa Port’s South Quay, marking the beginning of operations at the newly launched facility. The bulk carrier, Alfred Oldendorff, the first in several shipments to the South Quay port for EGA, was swiftly followed by two large general cargo ...
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