Traders work on the floor of the New York Stock Exchange on Tuesday. Agence France-Presse
European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China’s Huawei Technologies offset a slightly more positive tone on trade.
European stocks fell, government bond yields slipped and the Japanese yen firmed on Thursday after the US government hit Chinese telecoms giant Huawei with severe sanctions, further straining Sino-US trade ties.
US FedEx Corp on Friday again apologised and blamed Washington’s ban on Huawei for being “unclear” as Beijing deepened an investigation into why the delivery firm was holding up packages meant for the telecoms equipment maker.
Excluding the energy sector, GDP fell by 1.5 per cent year-on-year in the 1st quarter, against an increase of 3.6 per cent last year compared to Q1 2018.
The Board of the Central Bank of the UAE (CBUAE), has decided on additional measures within the Targeted Economic Support Scheme (TESS), launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy.
The current developments and future prospects of the global oil markets were deliberated on Friday by the oil ministers of the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Iraq.