Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan ordered the disbursement of a grant worth AED24,392,473 to athletes who accomplished sporting achievements in 2019, benefitting 680 athletes from 29 federations. The grant will be distributed to athletes without holding the customary annual ceremony, in line with the precautionary measures adopted by the country to protect ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has made significant achievements in artificial intelligence (AI) and has come a long way in this area since 2017. This is by developing a roadmap for AI and launching a set of services and initiatives that use this promising technology. Dewa’s efforts in AI have consolidated the UAE’s global position and ...

India’s annual budget made equity investors ecstatic and the bond market morose. Could both of them be right? In her speech, Finance Minister Nirmala Sitharaman pegged total government expenditure for the current fiscal year at 34.5 trillion rupees ($472 billion). That’s $57 billion more than what analysts had forecast based on a muted April-to-November trend, extrapolated for a bump in ...

One upshot of Covid-19 has been closer coordination between monetary and fiscal powers. This has led to a revolution in macroeconomic policy — one that countries should continue building upon. Just as central banks have been rethinking their frameworks, there is a strong case for governments to similarly reconsider their approach to fiscal policy. Europe now has the perfect opportunity ...

Crowds are easily exploited by their leaders, theorised 19th-century psychologist Gustave Le Bon, whose mantra for guiding the masses was: “Assertion, repetition, contagion.” Today’s financial markets are much the same — but crowd control has its challenges. Easily-shared memes, GIFs and tweets have fuelled a volatile stampede into corners of the stock market, metals and cryptocurrencies, with tech billionaires such ...

In weighing how to advance his new Covid relief package, President Joe Biden is wrestling with a dilemma. Does he press as quickly as possible, with or without Republican cooperation, to pass the plan he’s laid out? Or does he seek compromise, risking both delay and a dilution of his proposals, in an effort that Republicans might scorn in any ...

Bloomberg Boeing Co signalled it’s at risk of losing more than a third of its 777X order haul because the latest delay to the behemoth jet’s debut — now slated for late 2023 — gives some customers the right to walk away from sales contracts. The US planemaker lowered the backlog for the 777X family to just 191 jets in ...

Bloomberg Canada granted an emergency loan to a company selling beach holidays, the first sign of a rescue package awaited by the industry after PM Justin Trudeau barred travel to Mexico and other sun destinations. Two related firms, Sunwing Airlines Inc and Sunwing Vacations Inc, will receive a combined C$375 million ($292 million) under a federal loan facility aimed at large ...

Bloomberg Kroger Co plans to close two Southern California supermarkets following passage of a local ordinance that requires grocery stores to raise their frontline workers’ hourly pay by $4. A Ralphs store and a Food 4 Less store in Long Beach, California, will close on April 17, the company said in a statement. A spokesperson declined to provide additional information ...

Bloomberg Hong Kong’s retailers didn’t see much benefit from the key holiday shopping season, with sales plunging in December after the government tightened controls to combat a surge in virus cases. Retail sales by value fell 13.2% from a year ago to HK$31.4 billion ($4.05 billion), after dropping a revised 4.1% in November, the Hong Kong Census and Statistics Department ...