June, 2020

• 9 June

  UK supports 11.5m jobs through pandemic

  Bloomberg The UK government’s pandemic programs are now supporting 11.5 million jobs at a cost of 27 billion pounds ($34 billion), according to figures released on Tuesday. Meanwhile, separate data from the Department of Work and Pensions showed the number of individuals making declarations for Universal Credit benefit claims fell to 96,510 in the week of May 25, the first ...

  Read More »
• 9 June

  Euro’s path to global prominence leads via green finance

  

  Bloomberg The euro has carved out a dominant position in the fast-growing market for green-bond financing, accounting for almost half of all new issuances last year, according to the European Central Bank (ECB). The development dovetails with European Union ambitions to make the continent the first climate-neutral region by 2050. ECB President Christine Lagarde has promised to reflect on how ...

  Read More »
• 9 June

  European stocks, futures slip after historic rally; dollar rises

  

  Bloomberg European stocks and US futures dropped as momentum in risk assets stalled after a historic rally. Treasuries advanced. Banks dragged the Stoxx Europe 600 Index lower. The dollar rose for the first time in nine days, while the euro weakened. Government bonds in the European periphery slipped. A gauge of European junk-grade credit risk increased. Brent crude oil slid ...

  Read More »
• 9 June

  Short-sellers set their sights on surging Asia biotech stocks

  

  Bloomberg Short sellers across Asia are being drawn to the health care sector, betting the region’s best-performing industry this year is poised for a retreat. The daily average amount of short interest among 324 biotechnology and pharmaceutical stocks across Asia’s major equity benchmarks has more than doubled so far this year from 2019, according to data compiled by Bloomberg. Australian ...

  Read More »
• 8 June

  National banks net foreign assets reach AED 79.8bn in four months

  

  ABU DHABI / WAM The net foreign assets held by the UAE national banks grew 17.5 percent to AED79.8 billion during the first fourth months of this year as compared to December 2019, statistics by the central bank of the UAE shows. The growth stems from the increase in the total balance of foreign assets of these banks to AED684.8 ...

  Read More »
• 8 June

  Abu Dhabi’s trade in precious metals hits AED5.42bn in Q1

  

  ABU DHABI / WAM The value of Abu Dhabi trading in precious metals and gemstone increased to AED5.42 billion within the first quarter of the current year 2020 with a rate of 34.4 percent compared to the same interval of 2019 estimated at AED4.03 billion according to Abu Dhabi General Administration of Customs. Such increase in Abu Dhabi trading in ...

  Read More »
• 8 June

  FAB issues HKD750m five-year ‘green bond’

  

  ABU DHABI / WAM First Abu Dhabi Bank (FAB) has successfully issued a landmark HKD750 million five-year Green Bond through a private placement. In a statement by the bank on Monday, this deal represents the first Green Bond issuance by a Mena issuer denominated in Hong Kong Dollars (HKD) and the first Green Bond in HKD by an offshore financial ...

  Read More »
• 8 June

  UAE stocks secure massive gains of AED16.4 billion

  Abu Dhabi / WAM Upbeat sentiments triggered by improved performance across all global stock markets saw UAE’s twin bourses’ general indices surging and gaining to the tune of AED16.4 billion at the close of Sunday’s session. The growth was spurred by a buying spree that selectively targeted blue chips and generated AED800 million in liquidity over 537 million shares through ...

  Read More »
• 8 June

  Shams-Mashreq deal to support SMEs in Sharjah

  

  SHARJAH / WAM Sharjah Media City, known as Shams, and Mashreq Bank, one of the leading financial institutions in the UAE, have announced a strategic partnership to boost entrepreneurship and support business owners in Sharjah. The two entities signed a Memorandum of Understanding (MoU) that will solidify this collaboration and enable Shams to leverage Mashreq’s banking expertise. “As part of ...

  Read More »
• 8 June

  Oil advances near $43 after Opec+ extends output cuts

  

  Bloomberg Oil rose to trade near $43 a barrel in London after Opec and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged. Brent futures added as much as 2.6% after posting a sixth weekly increase on Friday, the longest run of gains since May ...

  Read More »