April, 2020

• 9 April

  Stocks pare gains with US futures before holiday

  

  Bloomberg European stocks pared their gains alongside US equity futures on Thursday as investors mulled estimates of how soon economies can reboot when the coronavirus outbreak eases. Oil rose after Russia signalled it’s ready to make production cuts. Declines in telecoms and media shares helped trim an earlier advance by the Stoxx Europe 600 Index. American index contracts fluctuated a ...

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• 9 April

  Pakistan stocks rise after IMF’s approval for emergency funds

  

  Bloomberg Pakistani stocks rose after the International Monetary Fund (IMF) said it plans to disburse about $1.4 billion in emergency financing next week to help the nation shield its economy hit by the coronavirus outbreak. “The IMF and the Pakistani authorities are working hard for a prompt approval and disbursement” in a single installment, Teresa Daban Sanchez, IMF’s chief in ...

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• 9 April

  FX more efficient than stocks at trading swings

  Bloomberg Investors who want to trade big swings in risk sentiment may want to venture outside the typical US stocks play and consider currencies, according to analysts at Standard Chartered Plc. An analysis of how the S&P 500 Index and currencies traded relative to their volatility indicated that some foreign exchanges were more efficient in capturing the shifts through the ...

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• 8 April

  National Bonds’ assets under management hit AED7.8bn

  

  DUBAI / WAM National Bonds, the UAE-based financial and Sharia-compliant investment company, announced that its assets under management increased by 9 percent to AED7.8 billion in 2019, according to the results published by the company. The assets included mainly Wakala Deposits (38%), Real Estate – Yield Generating (27%) and sukuk (25%), according to National Bonds, which is owned by the ...

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• 8 April

  Italy moved by UAE’s gesture, compassion during pandemic

  

  ABU DHABI / WAM The Italian envoy to Abu Dhabi has said that Italy’s government and people were “moved” by the sympathy and compassion shown by the UAE during coronavirus pandemic. In a statement to Emirates News Agency (WAM) Ambassador Nicola Lener said that Italy was “deeply impressed” by the UAE initiative that saw the shipment of 10 tonnes of ...

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• 8 April

  Oil moves higher with impact of possible output cuts in focus

  

  Bloomberg Oil rose as investors weighed whether output cuts being discussed by the world’s top producers will be enough to offset the demand destruction wrought by the coronavirus. Futures in New York climbed around 3% towards $25 a barrel. Saudi Arabia and Russia are hammering out an agreement that a delegate said will reduce global output by about 10 million ...

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• 8 April

  India to buy Middle East oil for strategic reserves

  

  Bloomberg India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signalling its support for global efforts to rescue the energy market. The purchases are aimed at taking advantage of low prices, according to officials with knowledge of the matter. But two of them said they’re also ...

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• 8 April

  Empower confirms readiness to meet summer demand

  

  DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) announced the successful completion of all the required preparations at its district cooling plants across Dubai, to cater to the increasing demand during the summer, with the most sustainable and reliable technologies in district cooling operations and maintenance. The company cited a forecast by the National Centre of Meteorology, which says ...

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• 8 April

  DJI continues operating through remote-working

  DUBAI / WAM The Dubai Judicial Institute (DJI) announced that all amendments to the distribution of the budget will be made within the relevant prepared plans, as part of its keenness to fully comply with the precautionary measures approved by the relevant government agencies in the country. The institute performed complete maintenance of all its administrative and educational facilities, including ...

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• 8 April

  flydubai Cargo continues vital goods’ movement across region

  

  DUBAI / WAM Dubai-based airline, flydubai, has allocated six Next-Generation Boeing 737-800 aircraft to operate as all-cargo flights to enable the movement of essential goods across its network and beyond. This follows the temporarily suspension of passenger operations as part of the precautionary measures announced by the National Emergency Crisis and Disasters Management Authority (NCEMA); and the General Civil Aviation ...

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