October, 2020

• 7 October

  Covid-19: German industrial output falls

  Bloomberg German manufacturers unexpectedly cut production, underlining risks resurgent infections pose for the economic recovery. Industrial output declined 0.2% in August following three consecutive gains. Economists predicted an increase of 1.5%. The Economy Ministry said the weakness was chiefly driven by a drop in auto manufacturing. A separate report showed factory orders improved for a fourth straight month. The German ...

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• 7 October

  Brazil says privatisations will help save environment

  

  Bloomberg Brazil is framing its slow-moving privatisation program as a way to protect forests and rivers following international investors’ mounting criticism of President Jair Bolsonaro’s environmental policies. Martha Seillier, special secretary of the Investments Partnerships Program, said infrastructure building via concessions and privatisations not only represents good business opportunities but is also an environment-friendly strategy as the country battles a ...

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• 7 October

  S&P futures rise, Treasuries decline amid Trump tweets

  

  Bloomberg US equity futures rise after President Donald Trump called for a reduced group of stimulus measures. Euro-area bonds climbed before the region’s central bank president speaks. Food retailer Tesco Plc jumped when its earnings beat estimates. Ambu A/S surged after the maker of life-support equipment won a key US contract. The Stoxx Europe 600 Index fluctuated as insurers and ...

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• 7 October

  India stocks climb after volatile start

  

  Bloomberg Indian stocks rise after a volatile start as the central bank’s new monetary policy committee began meeting ahead of a decision later this week. The S&P BSE Sensex advanced 0.8% to 39,871.03 as of 10:47 am in Mumbai, after slipping as much as 0.3%. The NSE Nifty 50 Index added 0.4%. Gains were driven by India’s most valuable company, ...

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• 7 October

  South Africa’s main stock index advances

  Bloomberg South Africa’s main stock index advance 0.2% by 9:45 am in Johannesburg as a stronger rand boosts shares in banks and gains for diversified miners counter weakness in gold and platinum producers. Investors will be keeping an eye on developments around a national strike by unions representing workers across a range of industries, to highlight a litany of grievances, ...

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• 6 October

  ADIO, Israel Export Institute lay foundations for bilateral trade

  

  Abu Dhabi / WAM The Abu Dhabi Investment Office (ADIO) signed a cooperation agreement with the Israel Export Institute, establishing the foundation for strong trade bridges between Abu Dhabi and Israel by unlocking opportunities to collaborate on investments. The agreement covers the facilitation of introductions with potential investee companies in both markets, hosting joint events and supporting government and industry ...

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• 6 October

  Abu Dhabi’s Senaat to create local food & beverage giant

  

  Abu Dhabi / WAM General Holding Corporation (Senaat) part of ADQ and the sole shareholder of Al Foah Company, on Tuesday announced that it has submitted a non-binding offer to the Board of Agthia Group, a food and beverage company. The offer sets out the principal terms and conditions on which the majority of Al Foah’s business would be transferred ...

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• 6 October

  Arada awards contract for $6.5 billion project

  

  Sharjah / WAM Arada announced the latest in a series of construction contracts at Aljada, the AED24 billion ($6.53 billion) mixed-use community in the heart of New Sharjah. The developer awarded the AED102 million contract to build Phase 2 infrastructure works to support a number of different communities within Aljada to Al Marwan General Contracting Company. The scope of work ...

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• 6 October

  UAE reaffirms support for UN resolutions on Libya

  Abu Dhabi / WAM Dr Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, reaffirmed the UAE’s supportive stance for UN resolutions on Libya and the world organisation’s call for Libyan parties to engage in a ceasefire, end escalation, and commit to international efforts for a peaceful settlement. This came as the UAE minister participated in a ministerial meeting ...

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• 6 October

  WTO expects less severe global trade slump in 2020

  

  Bloomberg The World Trade Organisation (WTO) offered a less gloomy projection for this year’s decline in global trade while noting that downside risks remain if resurging outbreaks of Covid-19 stall the economic recovery. The WTO said it expects global merchandise trade to fall by 9.2% this year from 2019, compared with the 12.9% drop projected in April, according to revised ...

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