June, 2020

• 11 June

  UK realtors see surging demand for green space

  

  Bloomberg Homes with outdoor space and fewer communal areas look set to become more desirable as the UK property market begins to show signs of revival after the coronavirus lockdown. Indicators of activity compiled by the Royal Institution of Chartered Surveyors strengthened as agents were allowed to restart viewings in England in May. A net balance of 10% of survey ...

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• 11 June

  Europeans hoard billions, have few plans to spend them

  

  Bloomberg Europe’s economy risks losing out on a massive dose of stimulus from its consumers. Households have stashed away hundreds of billions of euros in their bank accounts under lockdown. And even though shops in many countries have reopened, surveys show little sign that people are ready to splurge just yet amid spiralling unemployment and the threat of a second ...

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• 11 June

  Generali explores options for Swiss unit

  Bloomberg Assicurazioni Generali SpA is exploring strategic options for its Swiss insurance operations, according to people familiar with the matter. The Italian company is working with advisers to study alternatives including a potential sale of part or all of the business, the people said, asking not to be identified because the information is private. Generali Switzerland makes about 194 million ...

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• 11 June

  Stocks and futures tumble on Fed caution, virus fears

  

  Bloomberg Stocks in Europe and Asia tumbled with US equity futures on Thursday after the Federal Reserve painted a long slog ahead for the economic recovery and as coronavirus infection rates jumped in parts of America. The Stoxx Europe 600 Index opened sharply lower, with sectors scooped up in the recent rally such as banks and travel leading declines. S&P ...

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• 11 June

  India stocks extend losses as investors evaluate valuation

  

  Bloomberg India stocks fell as investors weighed whether valuations have become too stretched following two straight weeks of gains. The S&P BSE Sensex declined 1.2% to 33,831.42 as of 1:41 pm in Mumbai, while the NSE Nifty 50 Index slipped by the same magnitude. Both measures have rebounded about 30% from their record slide on March 23. The price-to-earnings ratio ...

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• 11 June

  Hong Kong, S’pore firms to benefit from ‘business cycle’

  Bloomberg More traditional companies in Hong Kong and Singapore are set to benefit from a “new business cycle” globally as their economies recover from the pandemic, according to Citigroup Inc.’s private-banking arm. Cyclical and undervalued stocks will outperform in both jurisdictions supported by fiscal stimulus, with Hong Kong probably coming out of a yearlong recession this quarter, Ken Peng, head ...

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• 10 June

  Adnoc to host virtual roundtable of world’s leading energy firms

  

  Abu Dhabi / WAM The world’s leading oil, gas, and petrochemical CEOs will join a virtual roundtable hosted by Abu Dhabi National Oil Company (Adnoc) on June 16, to discuss critical issues facing the industry and share best practices on effective response to Covid-19, as oil markets continue to rebalance amid encouraging signs of economic revival. Adnoc convened this special ...

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• 10 June

  DIB closes landmark $1 billion 5-year sukuk

  

  Dubai / WAM Dubai Islamic Bank (DIB) has successfully closed a $1 billion long five-year sukuk with a profit rate of 2.95 percent per annum, which is equivalent to 245 basis points (bps) over the equivalent tenor Mid Swap Rate. In a statement by the bank on Wednesday, DIB’s $1 billion Sukuk is a landmark transaction as it is the ...

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• 10 June

  Outward personal remittances rise 7.8% in Q1 2020: CBUAE

  Abu Dhabi / WAM Outward personal remittances during Q1 increased by 7.8% or AED3 billion from AED38.4 billion to AED 41.4 billion compared to same period of 2019, according to official figures released by UAE central bank on Wednesday. “The outward personal remittances that were settled via banks rise by 16.9% or AED1.4 billion. Outward personal remittances that were settled ...

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• 10 June

  IMF warns poorest countries to default without debt relief

  

  Bloomberg The head of the International Monetary Fund (IMF) called on private creditors to join the Group of 20 in providing debt relief for the world’s poorest nations, saying that the alternative to suspension and restructuring is defaults. A debt-service suspension would provide time for restructuring debt on a case-by-case basis in nations where debt sustainability needs to be restored, ...

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