• Dubai counts on pent-up demand for tourism comeback

    After a painful four-month tourism shutdown that ended this week, Dubai is betting pent-up demand will see the industry quickly bounce back, billing itself as a safe destination with the resources to ward off coronavirus. The emirate, which had 16.7 million visitors last year, opened its doors to tourists despite global travel restrictions and the onset of the scorching Gulf summer in the hopes the sector will reboot before high season begins in the last quarter of 2020. Tourism chief Helal Al Marri said that people may still be reluctant to travel right now, but that data shows they are already looking at destinations and preparing to come out of their shells.


  • Do Institutions Own Omni Bridgeway Limited (ASX:OBL) Shares?

    Every investor in Omni Bridgeway Limited (ASX:OBL) should be aware of the most powerful shareholder groups. Large...


  • Yemen fuel supplies 'weaponised', putting millions at risk

    A fuel shortage is blighting life in the swathes of Yemen controlled by Huthi rebels, cutting electricity supplies, halting water pumps and stranding people in need of medical care as warring sides trade blame. "What's happening is an injustice," said Sanaa resident Hames Al-Tawil as he waited in a snaking line of vehicles that reached the gates of the presidential palace four kilometres (2.5 miles) away. Yemen is already at breaking point, facing what the United Nations calls the world's worst humanitarian crisis after almost six years of violence.


  • Asian Stocks Pare Weekly Advance; Dollar Ticks Up: Markets Wrap

    (Bloomberg) -- Asian stocks slipped on Friday, paring the week’s advance as a surge in China cooled and concern resurfaced that rising coronavirus cases will hurt the global economic recovery. Treasuries held on to an overnight jump.Shares in China fell about 1% as selling by state-backed funds signaled authorities wanted to slow of the pace of gains following the Shanghai Composite’s eight-day winning streak. Japanese shares slipped along with those in Hong Kong and South Korea. Contracts on the S&P 500 Index edged down after the gauge fell 0.6% on Thursday. Still, the tech-heavy Nasdaq hit a fresh record high. Treasuries held gains following strong demand for an auction of 30-year securities. The dollar nudged higher.“Optimism is giving way to de-risking into the weekend,” said Stephen Innes, chief global market strategist at AxiCorp. “The more uncertainty grows around the economic recovery front, the more cause for investors wanting to book profits even if volatility is not picking up that much.”Record deaths in Florida and California again put the spotlight on the spread of the coronavirus in the U.S. Elsewhere, Hong Kong’s government will announce an immediate suspension of all schools as local cases jump, according to a report. While optimists are betting that fiscal and monetary support will contain the fallout and cited U.S. jobs data Thursday that came in better than expected, others pointed out that the labor market is still treacherous.“We’re going to see intermittent periods of shutdowns over the next year or so while we’re still grappling with this virus,” Erin Browne, a multi-asset portfolio manager at Pacific Investment Management Co. said on Bloomberg TV. “But I wouldn’t expect we’re likely to see a wholesale shutdown of the U.S. economy like we saw earlier this year.”Elsewhere, oil traded below $40 a barrel and gold was steady.Here are some key events coming up:Singapore holds its general election on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index slid 0.3% as of 1:25 p.m. in Tokyo. The index fell 0.6% on Thursday.Japan’s Topix index declined 0.7%.Hong Kong’s Hang Seng index lost 1.2%.Shanghai Composite declined 1%.Australia’s S&P/ASX 200 Index dropped 0.5%.Euro Stoxx 50 futures rose 0.2%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.2%.The yen was at 107.01 per dollar, up 0.2%.The euro bought $1.1271, down 0.1%.The offshore yuan was at 7.0053 per dollar, down 0.1%.BondsThe yield on 10-year Treasuries remained at 0.61%.Australia’s 10-year yield fell three basis points to 0.87%.CommoditiesWest Texas Intermediate crude slid 1% to $39.22 a barrel.Gold was at $1,801.66 an ounce, down 0.1%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


  • Maxeon Solar Technologies Prices $185 Million Green Convertible Senior Notes Offering

    Maxeon Solar Technologies, Pte. Ltd. (Maxeon), currently a wholly owned subsidiary of SunPower Corp. (NASDAQ:SPWR), announced the pricing of an offering of $185,000,000 aggregate principal amount of its 6.50% green convertible senior notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, on July 9, 2020. The issuance and sale of the notes are scheduled to settle on July 17, 2020, subject to customary closing conditions. Maxeon also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $15,000,000 principal amount of notes.


  • Tesla appears poised to electrify S&P 500

    Tesla Inc appears on the verge of joining the S&P 500, a major accomplishment for Chief Executive Officer Elon Musk that would unleash a flood of new demand for the electric car maker's shares, which have already surged 500% over the past year. With a market capitalization of about $250 billion, Tesla would be among the most valuable companies ever added to the S&P 500, larger than 95% of the index's existing components. While analysts and investors have recently become more confident of Tesla's addition, an S&P Dow Jones spokeswoman declined to comment about specific changes to the index.


  • U.S. government may finalize ban on federal contractors using equipment from Huawei this week

    The Trump administration is set to finalize regulations this week that ban the United States government from working with contractors who use technology from five Chinese companies: Huawei, ZTE, Hikvision, Dahua and Hytera Communications, according to a Reuters report. The ban was first introduced as a provision in the 2019 National Defense Authorization Act that prevents government agencies from signing contracts with companies that use equipment, services and systems from Huawei, ZTE, Hytera, Hikvision and Dahua, or any of their subsidiaries and affiliates, citing national security concerns.


  • Three years after IS, slim funds keep Mosul in ruins

    Ahmed Hamed has dreamt of rebuilding his pulverised home in Iraq's Mosul from the moment government forces recaptured the city from jihadists in 2017. Iraq gathered $30 billion in pledges from international donors in Kuwait in 2018 to rebuild, but virtually none of the funds have been disbursed.


  • Fed balance sheet below $7 trillion, repo drops to zero for first time since Sept

    The Fed's total balance sheet size declined by about $88 billion to $6.97 trillion as of July 8 versus $7.06 trillion a week earlier, data released on Thursday by the central bank showed. It was the first time in 10 months that banks have not tapped the Fed for this key source of short-term funding. "In a sense, it is the end of an era," Jefferies economists Thomas Simons and Aneta Markowska wrote in a research note emailed Thursday afternoon.


  • Japan's economy to shrink at fastest pace in decades this fiscal year due to pandemic: Reuters poll

    Japan's economy will shrink at the fastest pace in decades in the year through March 2021, forcing the government to compile another stimulus package to cushion the blow from the coronavirus pandemic, a Reuters poll showed on Friday. Many respondents predicted the Bank of Japan's (BOJ's) next policy step would be to expand stimulus, but they do not see the pandemic triggering a banking sector crisis this year. The world's third-largest economy is forecast to contract 5.3% this fiscal year, a July 3-9 poll of over 30 economists shows, the most it has shrunk since comparable data became available in 1994.


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