July 21 – Daily Brief of World Finance & GCC News

WORLD FINANCE NEWS BRIEF

The Rich Are Looking to Buy Access to Covid Safe Havens

URL: https://www.bloomberg.com/news/articles/2020-07-20/the-rich-are-looking-to-buy-access-to-covid-safe-havens

Speciality firms such as Henley & Partners, the world’s biggest citizenship and residency advisory firm. With the persistent threat of viral infections and sudden lockdowns, the company is helping those with deep pockets buy access to a safe haven.

you can acquire the right to live, work and study in New Zealand if you part with NZ$3 million ($2 million) or NZ$10 million, depending on the type of investor resident visa you choose.

About 1.2 million euros ($1.4 million), including property purchase, will get a married couple citizenship in Malta.

Russian Elite Given Experimental Covid-19 Vaccine Since April

URL: https://www.bloomberg.com/news/articles/2020-07-20/russian-elite-got-experimental-covid-19-vaccine-from-april

Top executives at companies including aluminium giant United Co. Rusal, as well as billionaire tycoons and government officials, began getting shots developed by the state-run Gamaleya Institute in Moscow as early as April, the people said.

“Those who take it do so at their own risk,” Netesov said.

One tycoon said he decided against participating after his doctor told him it would take at least a year to assess the new vaccine’s risks.

Risk Assets Seen Entering ‘Danger Zone’ in Next Few Months

URL: https://www.bloomberg.com/news/articles/2020-07-20/risk-assets-seen-entering-danger-zone-in-next-few-months

Risk assets have proved resilient even amid the ongoing uncertainty of the impact from Covid-19 on economies and public health, as global policymakers stepped in with unprecedented fiscal and monetary support.

Societe Generale’s chief FX strategist, Kit Juckes.

“Don’t forget the sunscreen, something to cover your face, some yen, some Swiss francs and some EUR/USD volatility, which may come in handy if things get a bit lively.”

GCC NEWS BRIEF

Dubai’s Emaar Removes All Job Titles, With Alabbar Also Dropping His Title of Chairman – Gulf Business

URL: https://gulfbusiness.com/dubais-emaar-removes-all-job-titles-with-alabbar-also-dropping-his-title-of-chairman/

In an internal memo sent to company employees seen by Gulf Business, Alabbar – who signed off the note with just his name, omitting the chairman title – said the pandemic had forced the company to pause and re-assess at its business strategy.

Dubai-listed Emaar, one of the world’s largest real estate companies, has taken bold measures to deal with the pandemic.

UAE Energy Trader to Restructure Finances Following Oil’s Crash – Gulf Business

URL: https://gulfbusiness.com/uae-energy-trader-to-restructure-finances-following-oils-crash/

The move reflects months of turmoil in crude markets as a 35 per cent slump in prices this year plunged producers and traders into crisis.

Several trading houses have been in the spotlight after oil plummeted this year, prompting banks to reduce credit lines and look more cautiously on financing commodity trades

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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