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Gulf Today Report
Investments into money market funds rose to the highest this year in March, following a decline in bond prices and fresh restrictions in Europe.
Global money market funds received inflows of $44.7 billion, the largest inflow since December, according to data by Refinitiv Lipper.
However, equity funds recorded $17.6 billion inflows, the lowest in three weeks due to increase in US bond yields.
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Overall, equity funds received net buying of $289.6 billion in the first quarter, the biggest since at least 2013, though the inflows slowed by the end of the quarter.
Meanwhile, investors net bought $8.4 billion worth of global bond funds, which was about 19% higher than the previous week, boosted by inflows into US medium-term bonds and high-yield bonds.
Investors were looking ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy. London and Frankfurt opened lower. Tokyo, Shanghai and Australia declined after spending the day swinging between gains and losses.
The Financial Action Task Force (FATF), set up by the G7 group of advanced economies to protect the global financial system, said Pakistan had substantially completed its two action plans, covering 34 items, as part of a bid to get off the list on which it has been since 2018.
British American Tobacco Plc said on Thursday it would lay off 2,300 employees globally by January as the world's second largest tobacco company by sales looks to streamline its operations.
Dubai Customs has equipped the Jebel Ali and Tecom Customs Centre with a first-of-its-kind advanced system in the world for inspecting heavy and light vehicles, equipment,
Marathon crisis talks that produced a tentative deal to prevent a cataclysmic US debt default may yet prove the easy part of a process that turned on Sunday
The Ajman Chamber of Commerce and Industry (ACCI) organised the Ajman-Turkiye Business Forum, with the aim of discussing opportunities to expand the volume of trade and joint investment,