September, 2020

• 29 September

  Argentina’s economic recovery falters

  Bloomberg Argentina’s economic recovery lost steam in July after the government re-imposed stricter quarantine measures in a failed bid to contain the pandemic. Economic activity rise 1.1% in July from a month earlier, after two months of stronger gains as the economy rebounded from a historic drop in April. Activity falls 13.2% from a year earlier, worse than economists’ expectation ...

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• 29 September

  Germany may limit gatherings to fight Covid-19 spread

  

  Bloomberg Germany may join other European nations in limiting the number of people at private and public gatherings in areas with high coronavirus infection rates, as officials across the continent labor to reverse a recent uptick in cases. Chancellor Angela Merkel will recommend restricting private meetings to 25 people and public gatherings to 50 people when she holds talks with ...

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• 29 September

  European stocks decline with US futures; pound advances

  

  Bloomberg The end-of-month rebound in global equities faded as investors assessed a scaled-back fiscal stimulus proposal in the US against the rising toll of the coronavirus pandemic. European share declines were led by banks and other cyclical stocks. The pound added to gains amid speculation that successful Brexit trade talks could help shield Britain from a messy rupture with the ...

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• 29 September

  Penny stock’s 1,500% jump fuelled by Reddit left CEO dumbfounded

  

  Bloomberg A meteoric rally in an Australian penny stock is fast unravelling after confounding not just market watchers but also the company’s CEO. BrainChip Holdings Ltd., an artificial intelligence-focused startup whose flagship product is yet to be made widely available for commercial use, saw its 2020 gains propel to 1,500% earlier this month. While concerns about overheating have seen the ...

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• 29 September

  India’s benchmark equity index fluctuates

  Bloomberg India’s benchmark equity index swung between gains and losses as banks and telecom stocks offset the boost provided by software exporters. The S&P BSE sensex was little changed at 37,976.18 after swinging between gains of as much as 0.7% and a decline of 0.3%, as of 10:56 am in Mumbai. The NSE Nifty 50 Index was also steady. The ...

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• 29 September

  VP launches project to shape UAE’s next 50 years

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched ‘Designing the Next 50’ project to involve the public in shaping the future of the UAE. The project will bring together all members of the society to establish the pillars and components of the UAE Centennial ...

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• 28 September

  Sanad signs AED1 billion MRO deal with Pratt & Whitney, IAE

  

  Abu Dhabi / WAM Sanad, a wholly-owned subsidiary of Mubadala Investment Company (Mubadala) announced today a new AED1 billion deal with Pratt & Whitney and International Aero Engines (IAE). The new agreement will see Sanad Aerotech providing IAE with expanded maintenance, repair and overhaul (MRO) services for its V2500 engines, which powers the Airbus A320 family of aircraft. The announcement ...

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• 28 September

  UAE successfully launches mini satellite into space

  Abu Dhabi / WAM The UAE’s MeznSat, a national project in partnership between UAE Space Agency, American University of Ras Al Khaimah (Aurak), and Khalifa University (KU) lifted off aboard a Soyuz-2b rocket from the Plesetsk Cosmodrome in Russia. MeznSat aims to enrich scientific research and organise space-related activities while studying the greenhouse gas and red tide phenomenon in the ...

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• 28 September

  Oil fluctuates on doubts over demand prospects

  

  Bloomberg Oil has wavered on growing doubts over demand prospects with more potential lockdown measures on the way to combat the virus. The market was earlier buoyed by the dollar’s biggest slide in almost four weeks, which made commodities priced in greenback more attractive, as well as a bounceback in equities. Futures in London as much as 1.2% before paring ...

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• 28 September

  Beit Al Khair spends AED6m to treat patients

  Dubai / WAM The Beit Al Khair Society spent over AED6 million on the treatment of patients at the end of September 2020, as part of the “Elaj Project.” The project is one of the society’s key community initiatives that aim to help low income people without medical insurance, benefitting 446 individuals. Abdeen Taher Al Awadhi, Director-General of the Society, ...

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