July, 2020

• 26 July

  Bond market eyeing record-low yields set for nudge from the Fed

  

  Bloomberg Treasuries traders are once again eyeing record low yields, with dimming hopes for a sharp US growth recovery fuelling expectations that the Federal Reserve is about to signal more accommodation ahead. The benchmark 10-year yield just posted its lowest-ever weekly close, at 0.59%. And after stripping out inflation, the real yield — one of the market’s purest reads on ...

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• 26 July

  Asia profits tank 73% as earnings season kicks into high gear

  

  Bloomberg After a dreadful March quarter for Asian corporations, investors are bracing for another wave of reporting cards that will reflect the first full three-month period during the worst virus outbreak in living memory. More than 280 companies on the MSCI Asia Pacific Index are expected to report results next week, and the number will continue to climb in August. ...

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• 25 July

  UAE, Turkmenistan discuss ways to bolster bilateral ties

  

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday received a telephone call from Gurbanguly Berdimuhamedow, President of Turkmenistan. During the conversation, the two leaders discussed ways of strengthening bilateral ties and cooperation to serve the mutual interests of the two ...

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• 25 July

  Dubai records AED72.5bn in real estate transactions in H1

  

  Dubai / WAM Dubai’s real estate market witnessed transactions worth AED72.5 billion in the first half of 2020, despite the impact of the global Covid-19 outbreak, according to a report issued by the Dubai Land Department (DLD). The figures indicate that Dubai’s real estate sector is gradually returning to normal, driven by the stimulus packages and initiatives launched by the ...

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• 25 July

  Seha begins clinical trials for phase III of Covid-19 vaccine

  Abu Dhabi / WAM Inspired by the UAE Leadership’s vision and commitment to overcome the pandemic through a global collaborative effort, the Abu Dhabi Health Services (Seha) has started conducting new clinical trials for phase III of inactivated vaccine to combat Covid-19. The trials are being conducted under the supervision of the Department of Health – Abu Dhabi, and in ...

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• 25 July

  India’s Reliance becomes world’s No. 2 energy firm

  

  Bloomberg Reliance Industries Ltd., controlled by Asia’s richest man, toppled ExxonMobil Corp. to become the world’s largest energy company after Saudi Aramco, as investors piled into the conglomerate lured by the Indian firm’s digital and retail forays. Reliance, which manages the biggest refinery complex, gained 4.3% in Mumbai adding $8 billion to take its market value to $189 billion, while ...

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• 25 July

  Oil trading profits soar for energy majors who made storage bets

  

  Bloomberg In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into giant caverns on the nation’s North Sea coast. Equinor also filled oil tankers with crude, turning them into floating storage facilities, ...

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• 25 July

  Dewa, Siemens host tech talk ‘Scenario 2030’

  DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) and Siemens have organised a technology talk titled “Scenario 2030” where both sides discussed innovations and technologies of the future in the energy sector. These included energy storage, artificial intelligence, smart grids, and energy efficiency among other topics. The meeting supports long-term strategic partnership between Dewa and Siemens for over ...

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• 25 July

  DFF presents outlook on future of transportation

  

  DUBAI / WAM Dubai Future Foundation (DFF) in collaboration with the Dubai Future Council for Transportation, launched a report spotlighting the future of the transportation sector. The report makes a business case for investing in autonomous driving, advanced transport infrastructure, and strengthening cargo delivery through leveraging cutting-edge technology and innovation. Furthermore, the report underscores the importance of enhancing the human ...

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• 25 July

  Aldar opens Soul Beach at Mamsha Al Saadiyat

  

  ABU DHABI / WAM Aldar Properties announced the opening of Soul Beach, a new leisure destination at the Mamsha Al Saadiyat community for UAE residents and international visitors alike. Overlooking the blue waters of the Arabian Gulf, Soul Beach will feature a 1km beach with pristinely manicured sands, a 400m swimming zone, 400 parasol-flanked sunbeds and a unique refreshment concept ...

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