Investors look at stock prices at a brokerage house in Shanghai. Reuters
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
General Motors (GM) and Ford Motor announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the US automakers were hit by a slowing economy amid the Sino-US trade war.
Bolstered by improving sales and better margins, profits for China’s industrial companies rose in May, bucking a months-long downtrend. But analysts are unsure if the modest gains can last. China’s industrial profits have been faltering for over a year
The Sharjah Chamber of Commerce & Industry, SCCI, represented by the Sharjah Training & Development Center (STDC), has recently launched an online course on the “infection and ways to prevent and combat it”.
The UAE stocks continue to respond favourably to the country-level fiscal incentives and stimulus packages being launched, and gained Dhs12.5 billion in market cap by the end of Sunday’s session.
Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding as concern grows over the spread of the coronavirus.
Finance Minister Nirmala Sitharaman asked public and private sector banks to ensure uninterrupted banking operations and flow of liquidity. In a series of tweets, the office of Sitharaman said that she spoke to chiefs of public sector banks and representatives of private banks.