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  Bloomberg Chinese stocks advanced on Monday as a loosening of Covid-19 restrictions in Bejing increased bets that economic activity will pick up. The CSI 300 Index jumped 1.9%, the most in more than two weeks, as traders returned after the long weekend. Shares related to electric vehicles led the advance after BYD Co. posted strong May sales. The smaller, ...

  Bloomberg Weakening corporate profit forecasts may provide the latest headwind to US stocks, which are likely to fall further before bottoming during the second-quarter earnings season, according to Morgan Stanley strategists. “In the absence of an obvious shock like a recession, companies are slow to guide down,” strategists led by Michael Wilson wrote in a note on Monday. “This ...

  Bloomberg Bitcoin advanced, rising beyond the $30,000 level after languishing at the weekend. The largest cryptocurrency gained as much as 5.1% on Monday to $31,442. Other cryptocurrencies also rose, with Ether advancing up to 5.2% and Polygon adding as much as 8.6%. “Bitcoin has stabilized over the past few weeks on improved short-term momentum,” Katie Stockton, co-founder of Fairlead ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Carl XVI Gustaf of Sweden on his country’s National Day, which is celebrated on June 6. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also dispatched similar ...

  Bloomberg Saudi Arabia’s sovereign wealth fund will take a $185 million stake in Capital Bank of Jordan as part of deal to help the lender expand. The Public Investment Fund (PIF) signed a subscription agreement that would involve it buying 63 million newly issued shares to give it a 23.97% stake in the Jordanian bank, according to a statement. The ...

  Dubai / WAM Emirates Development Bank (EDB), the financial engine of the UAE’s economic diversification and industrial transformation agenda, has announced its participation in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate and investment banking industry. EDB is a Gold Sponsor of the event, which is taking place on 7th-8th June in Madinat Jumeirah, ...

  DUBAI / WAM Governments around the world have a “golden opportunity” to create new jobs in the aftermath of Covid-19, which has driven profound changes in businesses, working patterns and accelerated the emergence and development of new economic sectors. That is according to a new report published by the World Government Summit Organisation (WGS) in partnership with PwC Middle ...

  Sharjah / WAM The Sharjah Entrepreneurship Foundation (Ruwad), affiliated to the Department of Economic Development in Sharjah, announced the launch of the Ruwad virtual incubator, which targets students in the last two years before graduation, university and college graduates, and those wishing to enter the world of entrepreneurship. Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Department of ...

Dubai / WAM As part of his field tours in various emirates, President His Highness Sheikh Mohamed bin Zayed Al Nahyan visited the International Centre for Biosaline Agriculture (ICBA) in Dubai, which specialises in agricultural research aimed at enhancing agricultural productivity and sustainability in saline and marginal environments. Upon his arrival, His Highness Sheikh Mohamed bin Zayed was received by ...

  Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, signed implementation agreements with the Ministry of Energy of the Republic of Azerbaijan to develop clean and renewable energy projects in the country with a combined confirmed capacity of 4,000 megawatts (MW) — as an exclusive concession. Under the agreements, Masdar also has the right to ...