October, 2020

• 21 October

  ECB urged not to waste time in making bond buying greener

  

  Bloomberg Environmental activists and economists claim there’s a way for the European Central Bank (ECB) to account for climate risks in its stimulus programs without the time-consuming preparatory work officials often say is needed. Just last week, ECB President Christine Lagarde said her institution must question whether “market neutrality” is appropriate in light of environmental risks. As far as researchers ...

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• 21 October

  Goldman sends some staff home

  Bloomberg Goldman Sachs Group Inc. sent some workers at its London office home after two employees tested positive for Covid-19. The staffers work on the fourth and fifth floors of Plumtree Court, and their close contacts have been notified, according to a memo sent to staff last week. The two employees, who last were in the building, are in self-isolation, ...

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• 21 October

  Bonds decline on stimulus bets; European stocks slide

  

  Bloomberg Treasuries dropped alongside the dollar amid speculation that Washington lawmakers have made some progress on a stimulus package to be financed by trillion-dollar borrowing. The US 10-year yield broke above 0.8% to a four-month high and European bonds followed suit after Democrat House Speaker Nancy Pelosi expressed hope for political compromise on a stimulus bill this week. Outside of ...

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• 21 October

  Volatile end of year could put a limit on European equity gains

  

  Bloomberg European equities may not catch a break from being stuck in neutral as they head into a volatile end of the year, according to strategists surveyed by Bloomberg. The Stoxx Europe 600 Index will end the year at 371 points, leaving just 1% upside against Tuesday’s close, based on the average of 18 strategists polled in the study. They ...

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• 21 October

  UAE, US and Israel announce $3b regional investment fund

  

  TEL AVIV / WAM The United Arab Emirates, the United States of America, and Israel, have announced the establishment of the Abraham Fund, which fulfills a commitment made in the Abraham Accords. Through this fund, the UAE, the US International Development Finance Corporation, and Israel will mobilise more than $3 billion in private sector-led investment and development initiatives to promote ...

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• 21 October

  UAE signs air transport services deal with Tonga

  

  DUBAI / WAM The UAE, represented by the General Civil Aviation Authority (GCAA), signed an agreement on air transport services in its initials with the Civil Aviation Authority in the Kingdom of Tonga at the GCAA’s headquarters in Dubai, with the aim of strengthening bilateral air relations between the two countries. Saif Mohammed Al Suwaidi, Director-General of the UAE General ...

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• 21 October

  UAE ranks among top global commodity trading hubs

  Abu Dhabi / WAM The UAE has been ranked among the top three global commodity trading hubs, according to Dubai Multi Commodities Centre’s (DMCC) latest Future of Trade 2020 report. The Commodity Trade Index (CTI) assesses the role of 10 key trading hubs within global trade. The rankings are based on an analysis of 10 indicators across the three key ...

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• 21 October

  Oil slides with Opec+ warning of precarious market outlook

  

  Bloomberg Oil extended declines as Opec+ warned of a precarious outlook for the market while a resurgent virus hits consumption. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition’s committee meeting called on the group to be proactive in the face of uncertain demand. The comments are strengthening expectations that Opec and its allies will delay plans ...

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• 21 October

  dnata enters into Indonesian aviation market

  DUBAI / WAM Dubai’s dnata has announced it further expanded its footprint in the Asia-Pacific region and entered the Indonesian aviation market by partnering with PT UNEX Rajawali Indonesia (Unex). Based at Soekarno-Hatta International Airport (CGK) Jakarta, Unex is a leading ground handling and cargo warehouse company. The strategic partnership will see dnata and Unex enhance ground handling capacity in ...

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• 21 October

  Abu Dhabi to build mosque to honour Indonesian president

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has directed to build a mosque named after Indonesian President Joko Widodo, in Diplomatic Area in Abu Dhabi. His Highness Sheikh Mohamed also gave directions to rename Al Ma’arid Street, one of the capital’s ...

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