June, 2020

• 24 June

  French business confidence jumps in June

  Bloomberg French business confidence surged in June, rebounding from the lockdown damage as the economy continues to reopen. The improvement follows figures showing a pickup in measures of activity in the euro area and data last week that indicated the slump in France wasn’t as bad as initially expected and consumption is returning quickly. A closely watched measure of business ...

  Read More »
• 24 June

  J&J talc verdict cut in half to $2.1 billion by US court

  

  Bloomberg A Missouri appeals court refused to toss out a $4.7 billion jury verdict against Johnson & Johnson (J&J) over cancer claims linked to talc-based products including baby powder but agreed to cut the total payout to $2.1 billion to the women who sued the company. In a unanimous 83-page opinion, a three-judge panel said 2018 trial testimony by plaintiffs’ experts ...

  Read More »
• 24 June

  European stocks, US futures slide as cases of Covid-19 rise

  

  Bloomberg European stocks and US futures slumped as a resurgence in virus cases in Tokyo, Germany and the American South sharpened concern about the pace of economic recovery. The Stoxx Europe 600 Index fell the most in a week with losses across all major industries. Oil and copper retreated, while the dollar steadied. Austria is selling another 100-year bond, locking ...

  Read More »
• 24 June

  Credit Suisse says Asia stocks set to outperform in H2

  

  Bloomberg Asia excluding Japan stocks are set to outperform other emerging markets in the second half of 2020, supported by a weakening US dollar, improving economic data and monetary policy support, according to Credit Suisse Group AG. “If there is any region that stands to benefit from the beginning of the resumption of normal activities in the world economy, Asia ...

  Read More »
• 24 June

  ‘Only Nasdaq at a record is bad sign for US stocks’

  Bloomberg A combination of fresh highs for tech stocks and still-elevated volatility may signal trouble ahead for the S&P 500 Index, according to BTIG LLC. The Nasdaq-100 reached a record on Tuesday, but its fellow American indexes S&P 500, Dow Jones Industrial Average and Russell 2000 have failed to hit their own new marks, chief equity and derivatives strategist Julian ...

  Read More »
• 23 June

  UAE’s aircraft, spaceship trade hits $7.68b in 2019

  

  Abu Dhabi / WAM The value of the UAE’s trade in aircraft and spaceships amounted to AED28.2 billion ($7.68 billion) in 2019, reflecting its leading position in these sectors in the Gulf Cooperation Council (GCC) and the Middle East, according to the Federal Competitiveness and Statistics Authority. The aviation sector supports the Emirati economy and its GDP contribution is expected ...

  Read More »
• 23 June

  Adnoc announces $20.7bn energy infrastructure deal

  

  Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday that it has entered into an agreement with some of the world’s leading infrastructure investors and operators, sovereign wealth and pension funds. A consortium of investors comprising Global Infrastructure Partners (GIP); Brookfield Asset Management, Singapore’s sovereign wealth fund GIC; Ontario Teachers’ Pension Plan Board, Ontario Teachers; ...

  Read More »
• 23 June

  Oil gains after Trump says China trade deal still on

  

  Bloomberg Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over US-China trade. Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After earlier dropping ...

  Read More »
• 23 June

  UAE lauds Saudi move to limit Hajj to residents only

  Abu Dhabi / WAM The UAE Fatwa Council praised the decision of the Ministry of Hajj and Umrah of Saudi Arabia to limit this year’s Hajj pilgrimage to Muslims of various nationalities residing in kingdom, to protect safety and health of people and facilitate the pilgrimage. The council stressed that everyone has to follow instructions of government, highlighting its responsibility ...

  Read More »
• 23 June

  India to block Chinese goods with new rules

  

  Bloomberg India has amended rules for purchases by government departments, making it mandatory for suppliers to mention the country of origin in a move to push for local products and keep out Chinese manufacturers. New sellers on Government e-Marketplace, an Amazon-like online procurement platform, will have to register the origin of their products while those already available must meet the ...

  Read More »