July 22 – Daily Brief of World Finance & GCC News


Banks Eye Ditching Real Estate With Workers Wanting to Stay Home

URL: https://www.bloomberg.com/news/articles/2020-07-21/banks-eye-ditching-real-estate-with-workers-wanting-to-stay-home

Roughly 61% of bank executives surveyed by Accenture Plc said they don’t expect all of their employees to be called back to the office, and more than 40% said they plan to reduce their real estate footprint

Many financial-services firms are considering a hybrid model in which employees come to the office three days a week and work from home the other two.

Inequality Was Bad. The Pandemic Is Making It Worse

URL: https://www.bloomberg.com/news/articles/2020-07-17/as-pandemic-drives-inequality-a-search-for-solutions-quicktake

Most of U.S. job losses were falling on those making less than $40,000

More than 100 nations staring down the humanitarian and economic shocks of the pandemic have asked the International Monetary Fund for help.

U.S. And U.K. Discuss Plans for Coalition to Resist China

URL: https://www.bloomberg.com/news/articles/2020-07-21/u-s-and-u-k-discuss-plans-for-coalition-to-resist-china

Pompeo said he wants to build a “coalition” that understands the “threat” posed by China, after talks with U.K

Meanwhile, Raab insisted the U.K. had not been forced into its move against Huawei by U.S pressure,


Etisalat Group Reports Dhs4.6bn Consolidated Net Profit for H1 2020, Up 3% Y-On-Y.

URL: https://gulfbusiness.com/etisalat-group-reports-dhs4-6bn-consolidated-net-profits-for-h1-2020-up-3-y-on-y/

However, consolidated revenues of the UAE’s biggest telecom operator amounted to Dhs25.6bn, down slightly by 1 per cent.

Etisalat said that its subscriber base reached 146 million, down from the 150 million it had reported at the end of the first quarter.

Opec Has New Competitor as China Ships Oil From Its Swelling Storage

URL: https://menafn.com/1100516723/Opec-has-new-competitor-as-China-ships-oil-from-its-swelling-storage

China went on a record buying spree to fill its reserves with low-cost supplies, helping prices double from April lows. Now the purchases are slowing and some of those stockpiles are hitting the market just as Opec and its partners prepare to raise output.

Two South Korean refiners purchased about 500,000 barrels each of Oman crude from the depots in China.

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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