October, 2020

• 20 October

  India’s Modi urges virus precautions

  

  Bloomberg Prime Minister Narendra Modi said his government will ensure that all 1.3 billion Indian have access to a Covid-19 vaccine as soon it is ready and asked citizens to exercise caution ahead of the country’s traditional festival season to check a spike in infection in the world’s second-worst affected nation. “We have covered a long distance in the fight ...

  Read More »
• 20 October

  EU’s first social bonds prove magnet for record $275bn

  

  Bloomberg The European Union’s (EU) first offering of social bonds was said to receive orders of more than 233 billion euros ($275 billion), a record in the euro area. The bloc looks set to raise 10 billion euros from the sale of 10-year debt via banks, according to a person familiar with the matter. That alone drew orders above 145 ...

  Read More »
• 20 October

  EU may shut door to travel from Canada

  

  Bloomberg The European Union (EU) plans to remove Canada, Tunisia and Georgia from its list of countries whose residents should be allowed to visit the bloc amid the coronavirus pandemic, according to EU officials familiar with the matter. The EU intends at the same time to reopen its doors to travellers from Singapore as a result of improved virus trends ...

  Read More »
• 20 October

  Ireland moves back to lockdown as Europe seeks to defeat virus

  

  Bloomberg Ireland imposed some of the most severe pandemic restrictions in Europe as countries across the region battle to overcome the virus. Non-essential stores and restaurants will be forced to close for at least six weeks, Prime Minister Micheal Martin said. Travel will be further restricted, with people told to stay within 5 kilometers (3.1 miles) of their home. Countries ...

  Read More »
• 20 October

  Swiss watch exports decline by 12%

  Bloomberg Swiss watch exports extended their longest decline in about three years as the industry becomes even more dependent on the Chinese market. Shipments fall 12% to $1.76 billion in September, dropping an eighth consecutive month, according to the Federation of the Swiss Watch Industry. Exports to China surged 79%, while falling almost everywhere else. China has been one of ...

  Read More »
• 20 October

  Finance job vacancies in London fall 54% year-on-year

  

  Bloomberg Job vacancies in London’s finance industry slumped 54% in the third quarter compared to 2019 as uncertainty around coronavirus, Brexit and bank profits discouraged hiring. City firms were advertising 3,810 roles in the three months through September, according to data from recruitment firm Morgan McKinley. While this is a fraction of the opportunities available in previous years, the total ...

  Read More »
• 20 October

  US futures extend gains amid final stimulus push

  

  Bloomberg US equity futures extended gains as investors clung to hopes for a deal in stimulus talks. Europe equities fluctuated after a string of positive earnings. Logitech surged as much as 22% to a record high after the tech hardware maker raised its sales forecast. UBS gained after the Swiss bank’s profit beat estimates and Reckitt Benckiser hiked its revenue ...

  Read More »
• 20 October

  SoftBank amasses over $20 billion in public stock unit

  

  Bloomberg SoftBank Group Corp. charged ahead with its new public stock trading arm, increasing equity positions to more than $20 billion despite an initially skeptical response from shareholders, according to a person familiar with the investments. Bloomberg reported in August that SoftBank had been targeting more than $10 billion and that the sum could reach into the tens of billions. ...

  Read More »
• 20 October

  Abraham Accords: UAE cabinet ratifies peace deal with Israel

  

  Abu Dhabi / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved a Resolution to endorse the Abraham Accords Peace Agreement and full diplomatic relations between the UAE and the State of Israel. It also directed the initiation of constitutional procedures to ...

  Read More »
• 20 October

  Abu Dhabi’s ADQ invests $1b into Lulu’s Egypt expansion

  

  Abu Dhabi / WAM ADQ, one of the region’s holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, announced it entered into a non-binding agreement with Lulu International Holdings (LIHL) paving the way for an investment supporting LIHL’s expansion of operations in Egypt of up to $1 billion. The agreement was signed ...

  Read More »