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Bloomberg Oil steadied in New York as the boost from a weaker dollar offset concerns that the resurgence of coronavirus will crimp fuel demand. Futures held above $38 a barrel, recouping earlier losses of 2.6% as the slide in the US currency made dollar-priced commodities an attractive hedge. Still, sentiment in crude markets remained fragile after last week’s 3.2% slide. …

Bloomberg Of the more than $110 billion in additional funding that sub-Saharan Africa will need this year to fight the coronavirus pandemic, $44 billion has not been financed yet even after several countries have taken up emergency loans and debt-service relief initiatives, according to the International Monetary Fund (IMF). The funding needs persist despite the IMF approving debt-service relief for …

ABU DHABI / WAM The General Civil Aviation Authority (GCAA) announced that all inbound passenger flights, including transit, from Pakistan to the UAE have been suspended until further notice. The suspension, which came into effect on Monday, will continue until a dedicated laboratory test for Covid-19 is established in Pakistan to ensure all passengers headed to the UAE have been …

Bloomberg Indian stocks dropped on concern that increasing coronavirus infections and the extension of restrictive measures in some states will hinder a recovery in Asia’s third-biggest economy, which has just begun to reopen. The S&P BSE Sensex and the NSE Nifty 50 Index both fell 1.4% as of 10:13 am in Mumbai, set for their lowest close in more than …

Bloomberg For those investors lucky enough to have invested in South Korea’s health care sector, now may be the time to reassess the risks. James Lim, a senior analyst at the $3 billion California-based hedge fund Dalton Investments LLC., is warning that retail investors could pull out of the nation’s equity market on unforeseen events such as an earlier-than-expected curb …

Bloomberg European stocks slid while S&P 500 futures fluctuated as investors weighed scattered signs of economic improvement against the accelerating virus spread in the US, Brazil and India. The dollar slid against all of its major peers after three days of gains. Oil futures fell below $38 a barrel in New York. The yield on Treasury five-year notes traded near …

Bloomberg The profits of Chinese industrial enterprises rebounded in May for the first time since November 2019, signaling the economy is continuing to recover from the coronavirus shutdowns Industrial profits rose 6% to 582.34 billion yuan ($82 billion) last month from a year earlier, data from the National Bureau of Statistics showed Sunday. That compared with a decline of 4.3% …

Bloomberg India, the third-biggest oil consumer, expects fuel demand to return to normal earlier than projections by the International Energy Agency and OPEC. “If you look at the trend of the past few weeks, I’m confident that by the end of second quarter, demand will be as usual,” India’s oil minister Dharmendra Pradhan said at the BloombergNEF Summit, referring to …

Bloomberg Electricite de France (EDF) faces a possible $11 million fine after being accused by French regulators of providing false information on the Hinkley Point C nuclear project and lacking transparency concerning new circumstances that ramped up its cost. In October 2014, EDF announced it would build the UK’s first nuclear reactors since 1995 after reaching a deal with the …

Bloomberg A collective of more than 200 farmers in a rural part of the Netherlands got financing to build one of the largest onshore wind farms in the country. Windpark Zeewolde BV secured 500 million euros ($561 million) of debt from Rabobank to construct the 322-megawatt wind farm about 50 kilometres (31 miles) east of Amsterdam. The group plans to …