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Bloomberg Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year. Citigroup Inc. sees demand from the official sector rising to about 450 tons after a drop to 375 tons this year, which would be the lowest in a decade. HSBC Securities (USA) Inc. ...

Bloomberg European Central Bank (ECB) President Christine Lagarde said it’s worth examining a Federal Reserve-style strategy that allows for inflation to temporarily rise above the institution’s target. A policy under of committing to make up for low inflation after missing the goal for a while “could be examined,” as part of the institution’s strategic review, Lagarde said at a conference ...

Bloomberg The Philippine central bank said it will ban from the industry former bank employees who allegedly falsified documents for German payments company Wirecard AG. Bangko Sentral ng Pilipinas is adding the former bankers to a list of persons disqualified from becoming directors or officers at any supervised financial institution, it said in an email. Wirecard filed for bankruptcy in ...

Bloomberg US equity-index futures dropped alongside most stock markets after an acrimonious American presidential debate highlighted the risk of a contested vote in November. A gauge of the dollar edged higher. S&P 500 futures fall as much as 1.3% in the hours after the chaotic sparring between Donald Trump and Democratic hopeful Joe Biden during which the president suggested vote-by-mail ...

Bloomberg Micron Technology Inc. shares fall after the largest US chipmaker said it recently halted shipments to China’s Huawei Technologies Co. Micron also cut capital spending plans, warned about weaker demand from some corporate customers and forecast possible oversupply in a key market next year. Shares of the company dropped 3.6% in extended trading. The stock is down almost 6% ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, mourned with great sadness and sorrow the death of His Highness the Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, praying to Allah Almighty to rest his soul in Paradise and to grant the State of Kuwait, its people and Al Sabah family patience and solace. In ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a cable of condolences to HH Sheikh Nawaf Al-Ahamd Al-Sabah, Deputy Emir and Crown Prince of Kuwait, on the death of Amir of Kuwait Sheikh Sabah Al-Ahmad Al Jaber Al-Sabah. In his message, His Highness Sheikh Khalifa expressed his heartfelt condolences and solace on the ...

New York / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stated that the historic peace accord signed between the UAE and Israel, supported by American efforts, has opened wide horizons for achieving a comprehensive peace in the region. HH Sheikh Abdullah made these comments in his virtual address to the UN General ...

Bloomberg Oil retreated on renewed concerns over demand as some of the world’s biggest traders warned that a recovery is still some way off as the pandemic continues to cast a shadow over the market. US benchmark crude futures fall as much as 2.2%. Global confirmed deaths from the coronavirus — which has eviscerated energy demand — topped 1 million. ...

DUBAI / WAM Dubai Financial Market (DFM) on Tuesday announced that it has reached the final stages of preparations to launch an equity derivatives platform (DFM Derivatives Platform), in cooperation with Dubai Clear and Nasdaq Dubai as well as leading brokerage firms, enabling investors to diversify and hedge their portfolios and access leverage. The platform will be launched in October, ...