Middle East rich most cautious after oil plunge, COVID-19 crisis - Barclays
Friday, 29 May 2020 High net worth individuals in the Middle East have become the most risk averse among wealthy investors in emerging markets after being hit by the oil price crash, according to an executive at Barclays private bank.
Donald Trump has presided over the signing of historic diplomatic pactsbetween Israel and two Gulf Arab nations. The US president hopes the move willlead to a new order in the Middle East and cast him as a peacemaker at theheight of his reelection campaign. Hundreds of people amassed on the sun-washed South Lawn to witness the signing of agreements between Israel and theUnited Arab Emirates and Bahrain.
Credit: PA - Press Association STUDIO Duration: 01:19Published
The President of United State, Donald Trump, Prime Minister of Israel Benjamin Netanyahu, Foreign Minister of the UAE Abdullah bin Zayed Al Nahyan, and Foreign Minister of Bahrain Abdullatif bin Rashid Al Zayani signed the Abraham Accord. "Israel, the United Arab Emirates, and Bahrain will establish embassies, exchange ambassadors, and begin to work together as partners. They are friends," The White House tweeted."After decades of division and conflict, we mark the dawn of a new Middle East. Congratulations to the people of Israel, the people of the United Arab Emirates, and the people of the Kingdom of Bahrain. God Bless You All!", Trump tweeted.
[NFA] The United Arab Emirates and Bahrain on Tuesday became the latest Arab states to break a longstanding taboo by signing agreements toward normalizing relations with Israel in a strategic realignment of Middle Eastern countries against Iran.
The United Arab Emirates and Bahrain signed agreements on Tuesday for normalizing relations with Israel, becoming the latest Arab states to break a longstanding taboo in a strategic realignment of Middle Eastern countries against Iran.
Barclays Plc is being probed by the United Kingdom's privacy watchdog, the Information Commissioner's Office (ICO), over allegations that the British bank spied on its staff, the agency said on Sunday. Ciara Lee reports
Barclays reported a 66% plunge in profits for the first six months of the year. The bank was hurt by declining business in its UK group. Business Insider reports that profits attributable to shareholders dropped to $899 million in the first half. That's down from $2.6 billion last year. The British bank set aside $4.7 billion in anticipation of bad loans related to the crisis period. Barclays trading division posted a 60% jump in trading revenues in foreign-exchange, rates, and credit trading.
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