October, 2020

• 5 October

  Stocks, futures advance on Trump prognosis; yen dips

  

  Bloomberg US futures climbed with global stocks on optimism over economic stimulus and that President Donald Trump may soon leave the hospital. The yen retreated and Treasuries were steady. Consumer companies and banks led a broad advance among European stocks. Equities in Asia notched gains, while crude oil rebounded from a three-week low. Haven assets dipped, with gold and the ...

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• 5 October

  Singapore Exchange plans to wind-down its deal with MSCI

  

  Bloomberg Singapore Exchange Ltd. (SGX) is beginning to reduce its pact with MSCI Inc. months earlier than expected, citing market uncertainty into year-end to speed up delisting the largest derivatives product it has in partnership with the index provider. The exchange will migrate all open positions in the MSCI Taiwan Index futures to its newly launched FTSE contracts on October ...

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• 4 October

  UAE-Bahrain trade in H1 returns to pre-Covid levels

  

  Manama / Emirates Business Trade between the UAE and Bahrain returned to levels not seen since before the Covid-19 pandemic, with new figures revealing $936 million in bi-lateral commerce during the first half of this year. June’s figures showed the positive economic impact of support measures on the economies of both kingdoms, with trade returning to $139.6 million — the ...

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• 4 October

  Libya’s oil output nears 295,000 barrels a day as exports ramp up

  

  Bloomberg Libya’s oil output has risen to 295,000 barrels following a truce in the Opec nation’s civil war and the lifting of a blockade on energy facilities. Fields that feed the newly restarted eastern ports of Hariga, Brega and Zueitina are ramping up production, according to a person with knowledge of the situation. Output was 250,000 barrels a day a ...

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• 4 October

  UAE welcomes signing of peace deal in Sudan

  Abu Dhabi / WAM The UAE welcomed the signing of a peace agreement between the Sudanese government and Sudanese armed groups in Juba. In a statement, the Ministry of Foreign Affairs and International Cooperation expressed its appreciation for the efforts of President Salva Kiir Mayardit of the Republic of South Sudan and all parties that contributed to this historic achievement. ...

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• 4 October

  India’s international flights may fully resume next year

  

  New Delhi / WAM Even as India extended the ban on regular, scheduled international air travel until October 31, the Minister of Civil Aviation, Hardeep Singh Puri, said he expected international flights to be fully operational by the first quarter of 2021. In a series of media interactions, including a conversation with the Emirates New Agency (WAM), the minister anticipated ...

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• 4 October

  Saudi’s new tax relief unleashed for home buyers to keep boom rolling

  

  Bloomberg Saudi Arabia added new incentives to keep its mortgage boom going by scrapping a 15% value-added tax on property sales and offering other relief for home buyers amid a push by the Arab world’s largest economy to expand residential ownership. Property transactions will instead be subject to a new 5% real estate sales tax, according to state-run news agency ...

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• 4 October

  Dubai all set to launch world’s largest fountain

  DUBAI / WAM The Pointe, Dubai’s premier lifestyle and dining destination by Nakheel Malls, is gearing up to launch the world’s largest fountain. ‘The Palm Fountain’, Palm Jumeirah’s latest waterfront attraction, will attempt to break a Guinness World Records (GWR) title during its inaugural launch event, and the public is invited to witness the celebration. Spread over 14,000 square feet ...

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• 4 October

  Shuaa Capital launches three Sharia-compliant funds in ADGM

  

  DUBAI / WAM Shuaa Capital has launched three Sharia compliant funds and already secured $75 million of commitments. The Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund – the first Sharia-compliant funds within an ICC umbrella to launch in the Abu Dhabi Global Market (ADGM) – are breaking ground as part of Shuaa’s fund platform rolled ...

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• 4 October

  Covid-19: UAE reports 1,001 new recoveries

  

  ABU DHABI / WAM The Ministry of Health and Prevention (MoHaP) announced that it conducted 108,906 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. As part of its intensified testing campaign, MoHaP announced 1,041 new coronavirus cases, bringing the total number of cases in the UAE to 98,801. MoHaP also noted an additional 1,001 individuals ...

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