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Toyota Misses April Global Production Target

Japanese giant Toyota Motor announced on Monday that it fell short of its April global production target, predominantly due to coronavirus outbreaks and a parts shortage.

In the past month, the world's largest carmaker by sales manufactured 692,259 vehicles, down 9.1% from the same month the previous year and shy of an earlier goal of 750,000 vehicles globally.

The figures raise concerns about the severity of the pandemic's supply chain disruption and how it may influence output in the months ahead. The Toyota stock (NYSE: TM) remained solid on Friday’s trading session, inching 0.79% higher to price at $166.83.


According to a Reuters poll of analysts, Dubai house prices are expected to climb consistently over the next two years, driven by demand from overseas buyers. However, escalating loan rates & a lack of affordable housing could stifle activity. The Dubai property market recovered from a protracted period of declines in 2021, thanks to an economic boom fueled by higher energy prices and a resurgence in commerce and tourism, and has maintained positive momentum ever since.

Streets in Beijing were busier on Monday as residents in two districts were allowed to return to work, while Shanghai moved closer to unshackling its two-month-old COVID-19 quarantine on Wednesday, as the number of infections in China fell. While the rest of the world tries to co-exist with the virus, China is the only major country to pursue an uncompromising "zero COVID" strategy aimed at eradicating breakouts at all costs.


The U.S. dollar was lower on Monday morning, extending its losses from the previous week and heading for its first monthly loss in five months. As fears of a worldwide recession have faded, investors have decreased their expectations that increasing U.S. rates will result in additional increases. The dollar index, which compares the currency to six major peers, dropped 0.23% to 101.460.


Gold was up in Monday’s early hours, firming in choppy trading, as a dwindling dollar greenback boosted bullion prices. The value of the safe haven, which typically bolsters with a weaker U.S. dollar, increased by 0.22% to $1,852 per ounce.

“With the three-day holiday in the U.S., which means lower liquidity than usual, and a lack of top-tier data until Wednesday, we may find that gold will remain nailed to its tight range around $1,850 unless a new catalyst arrives,” City Index senior market analyst Matt Simpson told Reuters.


Oil prices climbed on Monday’s early trading session, reaching their highest level in over two months, as traders awaited word from the European Union (EU) on whether it would agree to a ban on Russian oil imports as a consequence of Moscow's invasion of Ukraine. Brent futures rose 0.71% to $116.32 a barrel, and WTI oil futures escalated by 0.78% to $115.97 per barrel.


USA: S&P500 +2.47%, Dow Jones Industrial Average +1.76%, Nasdaq Composite +3.30%

Europe: FTSE 100 +0.27%, DAX +1.62%, CAC 40 +1.64%

Asia: Nikkei 225 +2.19%, Hang Seng +2.20%, CSI 300 +0.64%, Nifty 50 +1.93%


Dubai Airport Expects Travel Surge, Hikes Annual Forecast

The operator of Dubai International Airport said on Wednesday that over 14 million passengers passed through the airport in the second quarter, raising its forecast for the year to 62.4 million. The number of passengers increased for the seventh consecutive quarter as demand for international travel rises as pandemic restrictions around the world loosen.

According to a statement from Dubai Airports, the airport in Dubai processed 14.2 million passengers from April to June, more than tripling the 4.9 million that passed through security during the same period last year.

Jewelry Maker Pandora Goes Big on Lab Diamonds

Pandora, the globe’s largest jewelry manufacturer, announced on Tuesday that it shall proceed with its bet on lab-created diamonds, following its statement last year to stop selling mined diamonds.

In an effort to attract younger customers with less expensive, more sustainable stones that are guaranteed not to have come from war zones, the Copenhagen-based jewelry giant will introduce a collection which utilizes unmined diamonds in North America this month.

Following a smaller experimental launch in Britain last year, 269 locations are now open across the United States, Canada, and via the web.

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