June, 2020

• 22 June

  Green shift talks in EU ramp up

  Bloomberg Germany is set to underline the need to combine the European Union’s (EU) economic recovery with measures to tackle climate change, ahead of it assuming the bloc’s presidency. EU environment ministers will discuss on Tuesday how the bloc’s Green Deal plan to reach climate neutrality in 2050 can help the economy rebound from the coronavirus crisis. Germany will present its ...

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• 22 June

  Denmark strikes climate deal to slash emissions

  

  Bloomberg Danish lawmakers have struck a climate agreement to ensure their country can live up to a goal of cutting carbon emissions by 70% from 1990 levels over the coming decade. The deal, after winning broad backing across party lines, means Denmark will commit to cutting carbon emissions by 3.4 million tonnes. Lawmakers also agreed to build the world’s first ...

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• 22 June

  Facebook in talks for Neiman Marcus’ space

  Bloomberg Facebook Inc. is considering taking over Neiman Marcus’ retail space at Hudson Yards in Manhattan, Women’s Wear Daily reported, citing a person familiar with the matter it didn’t identify. The operator of high-end department stores filed Chapter 11 bankruptcy on May 7, which would allow it to back out of its 188,000-square-foot store lease free of penalties. If Facebook ...

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• 22 June

  Sweden’s credit market rebounds on rising ESG bond volumes

  

  Bloomberg Sweden’s once battered credit market is finding relief in an unexpected place. As firms and governments try to recover, they’re selling more debt earmarked for ethical and social projects than ever before. That issuance has provided a lifeline to a market that suffered one of the worst crashes in its history just a few months ago. Anna Reuterskiold, a ...

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• 22 June

  European stocks pare losses on optimism over economic recovery

  

  Bloomberg European stocks pared losses and US equity futures rallied as investors bet that the economic recovery will keep going, even as virus infection rates rise. Gold approached the highest since 2012, while Treasuries and the dollar were little changed. Retail stocks climbed, limiting losses in the Stoxx Europe 600 Index. Wirecard AG shares were in freefall again as the ...

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• 22 June

  Indian stocks gain

  

  Bloomberg Indian stocks rose as they entered their final full week of trading for the quarter, as investors weighed the reopening of the economy against a rising number of novel coronavirus infections in rural areas. The S&P BSE Sensex added 0.9% to 35,038.49 as of 10:22 am in Mumbai, while the NSE Nifty 50 Index advanced 1%. While volatility may ...

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• 22 June

  Investors should get more selective in H2: JPMorgan

  Bloomberg Investors should be more selective in the next six months as asset returns are likely to diverge because liquidity “cannot paper over specific weaknesses indefinitely,” according to JPMorgan Chase & Co. An “indiscriminate approach” to a portfolio would largely have worked in April and May, when most financial assets rallied — a typical result at a turning point in ...

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• 21 June

  Trade in UAE food products reaches AED31.7bn in Q1

  

  Abu Dhabi / WAM The value of Emirati food products traded in the first quarter of 2020 totalled AED31.7 billion, according to the latest figures from the Federal Competitiveness and Statistics Authority. The figures also show that the value of the country’s food imports in the first quarter of this year amounted to AED17.98 billion while trade in medicines and ...

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• 21 June

  Saudi Arabia launches $4b tourism development fund

  

  Bloomberg Saudi Arabia started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45 billion in memorandum of understandings signed with private banks, according to ...

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• 21 June

  Emirates NBD Capital closes IsDB’s $1.5b sustainability sukuk

  

  DUBAI / WAM Emirates NBD Capital Limited, the investment banking arm of Emirates NBD, announced that it has successfully closed Islamic Development Bank (IsDB’s) first ever USD Sustainability sukuk. The bank acted as Joint Lead Manager and Bookrunner for the landmark transaction by IsDB, rated Aaa/AAA/AAA by Moody’s/S&P/Fitch (each with stable outlook) The $1.5 billion, five-year sukuk is testament to ...

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