October, 2020

• 14 October

  Brazil records fastest inflation for September in 17 years

  

  Bloomberg Brazil’s consumer inflation recorded its fastest pace for the month of September since 2003 as food and fuel prices rise, supporting the case for the central bank to keep its key rate unchanged later this month. The benchmark IPCA index rises 0.64% from August, above the 0.54% median estimate in a Bloomberg survey of economists. Annual inflation accelerated to ...

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• 14 October

  Stocks, futures surge before earnings; pound pares drop

  

  Bloomberg European stocks rise with US futures as investors prepared for some of the biggest banks to report earnings including Wells Fargo & Co. and Bank of America Corp. The pound pared declines after the UK signalled it will continue efforts to reach an agreement with the European Union on their future relationship beyond Prime Minister Boris Johnson’s October 15 ...

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• 14 October

  China’s stock market tops $10 trillion for first time since 2015

  

  Bloomberg Chinese domestic equities are worth more than $10 trillion for the first time since 2015, when a record crash erased half the market’s value in months and saddled millions of investors with losses. The world’s second-largest stock market added $3.3 trillion since a low in March, helped by Beijing’s policies to encourage trading, a flurry of new listings that ...

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• 14 October

  Mubadala invests $234m in drug discovery firm Evotec

  

  Abu Dhabi / WAM Mubadala Investment Company on Tuesday announced that it is pumping 200 million euros into Evotec SE, a German pharmaceutical company that specialises in drug discovery solutions. Evotec SE said that it resolved a capital increase from its authorised capital without pre-emptive rights against cash. Evotec will issue a total of 11,478,298 new shares to Mubadala Investment ...

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• 14 October

  ADX amends securities lending, borrowing rules

  

  Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) on Tuesday announced the launch of its latest investment service “Covered Short Selling” (CSS) to support the exchange’s strategy of diversifying investment and providing investors with a broader range of hedging mechanisms. By doing so, it will attract a new segment of specialised and experienced investors, driving both liquidity and trading ...

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• 14 October

  World economy faces uneven recovery: IMF

  

  Bloomberg The International Monetary Fund (IMF) warned that the world economy still faces an uneven recovery until the coronavirus is tamed even as it offered a less-dire view of this year’s recession following massive stimulus from central banks and governments. The fund now forecasts world gross domestic product (GDP) to shrink 4.4% this year, compared with the 5.2% drop seen ...

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• 14 October

  Union Properties posts AED509m profit in Q3 2020

  Dubai / WAM Union Properties announced on Tuesday its financial results for the three-month period ended on September 30, with a net profit of AED509.2 million (approximately 12 fils per share), while the profit for the nine-month period of the current year reached to AED348.8 million (approximately 8 fils per share). With these realised profits, the group has cleared all ...

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• 14 October

  Global oil demand to recover to pre-pandemic levels in 2023: IEA

  

  Bloomberg The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the International Energy Agency (IEA) said. After an unprecedented 8% drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the Paris-based agency said on ...

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• 14 October

  MBZ Fund offers relief grants to assist wildlife conservation groups

  

  ABU DHABI / WAM The Mohamed bin Zayed Species Conservation Fund (MBZ Fund) on Tuesday announced it will expand its grant-making criteria to help partners meet core emergency operating needs precipitated by the Covid-19 crisis. The move aims to ensure the survival of small, grassroots conservation organisations whose finances have been impacted by the pandemic. To help organisations avoid layoffs, ...

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• 14 October

  UAE’s clear Covid-19 strategy is a global model, says NCEMA

  

  Abu Dhabi / WAM The Director-General of the National Emergency Crisis and Disasters Management Authority (NCEMA) Obaid Rashid Al Shamsi, has said that the UAE is a pioneering global model in the way it responded to the pandemic, thanks to the government’s foresight and proactive approach in managing the crisis. In a speech on the occasion of International Day for ...

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