Business - GulfToday

Global shares slide as hopes of economic recovery fade

An index of stocks across the globe fell on Thursday and the dollar rose for a fifth session running on lingering concern about another economic hit from the coronavirus pandemic.

13 hours ago

Indian stock indices tumble amid global selloff, COVID-19 spreading

The Indian stock market witnessed a bloodbath on Thursday, in line with the global selloff, with the BSE Sensex losing 1,114.82 points. Post Thursday’s selloff, Sensex lost 2,292 points in the last four sessions. This was the sixth consecutive session of loss for the Indian indices.

15 hours ago

Seatrade Maritime to kick-off virtually

Seatrade Maritime Middle East (ME) will kick-off virtually from Dec.14 to 16, 2020 and will bring together maritime buyers, industry suppliers, solution-providers and equipment manufacturers from around the world.

15 hours ago

Chinese state investors to take BMW’s partner Brilliance private

Chinese state-backed investors are considering taking BMW’s main Chinese joint-venture partner Brilliance private, five people with knowledge of the matter told Reuters, in the latest such deal targeting beaten down Hong Kong-listed stocks.

15 hours ago

Australia to overhaul bankruptcy laws to help firms over COVID-19

Australia on Thursday unveiled its biggest shakeup in bankruptcy laws in nearly three decades, allowing small businesses to trade while insolvent and take more control over debt restructuring, in a bid to help firms through the coronavirus crisis.

15 hours ago

Wall Street set to open lower as labor market recovery cools

At 8:36 a.m. ET, Dow e-minis were down 163 points, or 0.61%, S&P 500 e-minis were down 24.5 points, or 0.76%, and Nasdaq 100 e-minis were down 139 points, or 1.28%.

16 hours ago

Sterling edges higher ahead of Sunak's speech

Versus the dollar, sterling was up 0.1% at $1.2733, having hit a two-month low of $1.2676 on Wednesday. Against the euro, the pound was flat at 91.53 pence.

19 hours ago

Global sell-off drives European stocks to near 3-month lows

The pan-European STOXX 600 index fell 0.8%, recovering slightly after hitting its lowest level since June 26, while bourses in Frankfurt, London and Paris were down between 0.3% and 0.6%.

19 hours ago

Dollar in demand as equities retreat on virus concern

The dollar traded at $1.1656 per euro on Thursday, just shy of a two-month high reached on Wednesday. The greenback held near a nine-week high against the Swiss franc at 0.9236, and also held on to gains made in the previous session against the Japanese currency, to stand at 105.45 yen.

21 hours ago

Gold extends losses to fourth day on dollar rally

Spot gold was down 0.7% at $1,851.51 per ounce by 0553 GMT, extending falls into a fourth session. Earlier in the session, it hit its lowest since July 22 at $1,847.99. US gold futures were down 0.8% to $1,853.10.

21 hours ago

Asian shares sink on fading global recovery hopes

The MSCI index is also set for its biggest weekly drop since March, down more than 4% so far this week. Chinese blue-chips dropped 1.6%, Hong Kong's Hang Seng fell 1.7%, Seoul's KOSPI sank 2.59% and Australian shares fell 0.81%.
Japan's Nikkei declined 1.11%.

22 hours ago

Oil falls as demand growth concerns outweigh US stock drawdown

US West Texas Intermediate (WTI) crude futures fell 37 cents, or 0.9%, to $39.56 a barrel at 0650 GMT, while Brent crude futures dropped 34 cents, or 0.8%, to $41.43 a barrel.

22 hours ago

IPL 2020

Local

UAE strengthens commitment to back joint GCC economic plans

Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, chaired the virtual meeting of the Industrial Cooperation Committee of the...

13 hours ago

UAE supports efforts to reinforce international trade, investment

The UAE confirmed its commitment to supporting all global efforts to reinforce international trade and investment. This statement was made during the ...

13 hours ago

Abu Dhabi, Saudi trade at Dhs493.8 billion

The value of non-oil trade in goods between the Emirate of Abu Dhabi and Saudi Arabia amounted to Dhs493.8 billion over the past 10 years, in yet a ne...

14 hours ago

Seatrade Maritime to kick-off virtually

Seatrade Maritime Middle East (ME) will kick-off virtually from Dec.14 to 16, 2020 and will bring together maritime buyers, industry suppliers, soluti...

15 hours ago

UAE banks get Dhs44.72 billion liquidity facility under TESS

A total of Dhs44.72 billion of the Dhs50 billion liquidity facility provided by the Central Bank of the United Arab Emirates (CBUAE) to the UAE bankin...

23 Sep 2020

UAE, Israel discuss energy cooperation

During a remote meeting held via video conferencing, Suhail Bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, discussed, with Yuval...

23 Sep 2020

Abu Dhabi climbs business events destination rankings

The Emirate of Abu Dhabi is celebrating two new significant business events-related achievements, after the Abu Dhabi Convention and Exhibition Bureau...

23 Sep 2020

UAE and Uzbekistan to expand strategic economic partnership

UAE and Uzbekistan have announced a new phase of their strategic partnership for government modernisation, introducing new sectors including economy, ...

23 Sep 2020

World

Global shares slide as hopes of economic recovery fade

An index of stocks across the globe fell on Thursday and the dollar rose for a fifth session running on lingering concern about another economic hit f...

13 hours ago

Indian stock indices tumble amid global selloff, COVID-19 spreading

The Indian stock market witnessed a bloodbath on Thursday, in line with the global selloff, with the BSE Sensex losing 1,114.82 points. Post Thursday’...

15 hours ago

Chinese state investors to take BMW’s partner Brilliance private

Chinese state-backed investors are considering taking BMW’s main Chinese joint-venture partner Brilliance private, five people with knowledge of the m...

15 hours ago

Australia to overhaul bankruptcy laws to help firms over COVID-19

Australia on Thursday unveiled its biggest shakeup in bankruptcy laws in nearly three decades, allowing small businesses to trade while insolvent and ...

15 hours ago

Wall Street set to open lower as labor market recovery cools

At 8:36 a.m. ET, Dow e-minis were down 163 points, or 0.61%, S&P 500 e-minis were down 24.5 points, or 0.76%, and Nasdaq 100 e-minis were down 139 poi...

16 hours ago

Sterling edges higher ahead of Sunak's speech

Versus the dollar, sterling was up 0.1% at $1.2733, having hit a two-month low of $1.2676 on Wednesday. Against the euro, the pound was flat at 91.53 ...

19 hours ago

Dollar in demand as equities retreat on virus concern

The dollar traded at $1.1656 per euro on Thursday, just shy of a two-month high reached on Wednesday. The greenback held near a nine-week high against...

21 hours ago

Gold extends losses to fourth day on dollar rally

Spot gold was down 0.7% at $1,851.51 per ounce by 0553 GMT, extending falls into a fourth session. Earlier in the session, it hit its lowest since Jul...

21 hours ago

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