July 06 – Daily Brief of World Finance & GCC News

WORLD FINANCE NEWS BRIEF

Generation Z Is Bearing the Economic Brunt of the Coronavirus by bloomberg.com

Take Australia as an example. Despite a A$260 billion ($180 billion) injection of financial and economic support, unemployment among 15 to 24-year-olds has surged to 16.1%,

In the U.K., one-third of 18 to 24-year-old employees, excluding students, have lost jobs or been furloughed,

Jackson, the economist, put it more bluntly: “Generational scarring -– leaving young people outside the labor market for long periods of time — makes them less likely to get better jobs in the future,” he said. “It’s a ticking time bomb.”

Markets Torn Between Robust Economic Data and Rising Virus Cases by bloomberg.com


Economic releases from developed nations through Friday may help investors decide. Germany’s industrial production probably bounced back in May, as did Italian retail sales.

GCC NEWS BRIEF

Dubai Financial Market to Reopen Trading Floor on July 7 by gulfbusiness.com

In June, DFM launched its DFM Smart Services app, as part of its Smart Borse Strategy, that combined the features of both DFM app and DFM Services app, enabling users to track their investments and get their service requests accomplished through one app.

Through these all-inclusive online and smartphone applications, investors can seamlessly accomplish all market services as well as the services of both Dubai Clearing, Settlement and Depository (CSD), and Dubai Clear,” said Hassan Al Serkal, COO and head of Operations Division at DFM.

Dubai’s PlayDate Raises $250,000 to Help Parents Find Friends for Their Children by menabytes.com

PlayDate is trying to do is build a social network for families with young kids (and toddlers).

They are tackling a major connectivity and discovery pain-point for early parents that we see a major demand for in both MENA and US markets, and they’re doing so in the most innovative ways.

Train Linking Gulf States to Start Running in 2023 by bloomberg.com

The first phase of the Gulf Railway Project, which is expected to be finalized that year, will connect Saudi Arabia, the United Arab Emirates and Oman,

The second phase linking Saudi Arabia, Kuwait and Bahrain in expected to be completed in 2025.

About the author

Financial advisor to UHNWI, private entities, family offices, and companies. Certified Anti-Corruption Manager from The American Anti-Corruption Institute

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