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IT was the big idea at mid-year but already there’s some trepidation that a Transatlantic switch from US to European equities may have jumped the gun.
LONDON: Oil prices rose to their highest since early March on Wednesday on data showing a big drop in U.S. crude inventories, and a weak dollar, but mounting Covid-19 coronavirus infections weighed on the demand outlook.
NEW YORK: Some investors are worried the U.S. response to the coronavirus pandemic is dealing a body blow to the dollar, potentially accelerating what has so far been a slow erosion in the greenback's status as the world's dominant reserve currency.
KUALA LUMPUR: The ringgit was traded broadly higher against a basket of major currencies today and ended at five-month high versus the US dollar.
GOLD rallied into record territory above $2,000 an ounce as investors assessed increased geopolitical risks and the prospect for further stimulus to combat fallout from the pandemic.
LONDON: Britain's banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to take tougher "worst-case" scenarios into their risk models.
KUALA LUMPUR: The ringgit rebounded against the US dollar on mild demand for the local currency riding on the stabilising crude oil price, a dealer said.
LISBON, Aug. 4 (Xinhua) -- The Portuguese government on Tuesday welcomed the approval by the European Commission (EC) of the creation of the new Portuguese Development Bank (BPF), local media reported.
HELSINKI, Aug. 4 (Xinhua) -- The Finland-based tyre manufacturer Nokian Tyres made a 22.8-million-euro (26.9-million-U.S. dollar) loss in the second quarter (Q2) of 2020, compared to the operating profit of 98.8 million euros in Q2 of 2019, said the company in its financial report on Tuesday.