Bloomberg In the equity market, fear of missing out seems to be overshadowing fear of all that’s wrong with the economy. Goldman Sachs Group Inc. says pessimism will soon get the upper hand and send the S&P 500 Index down almost 20% in the next three months. Fiscal and monetary support over the past few weeks of the coronavirus pandemic ...

Bloomberg Oil pared last week’s gain as fears of a potential resurgence in global coronavirus cases countered tentative signs of a demand recovery. Futures fell 2.3% in New York to trade near $24 a barrel. China put Shulan, a city near the North Korean border, in lockdown over the weekend, while in the US, the White House was hit with ...

DUBAI / WAM The Federal Authority for Government Human Resources announced that the Eid al-Fitr holiday for federal entities in the UAE will begin on Friday, Ramadan 29 (corresponding to May 22) until Shawwal 3, 1441 H, which is yet to be declared. The authority offered greetings on the occasion to the people of the UAE and Arab and Islamic ...

Bloomberg When Bharat Gite reopened his aluminum parts factories in India’s western city of Pune, he spent days servicing idle machines, sanitising his premises and putting in place social distancing norms for staff. As India begins gradually easing stay-at-home restrictions across the country, Gite’s experience shows how reopening economy isn’t going to be a straightforward exercise. On top of the ...

MADRID / WAM Covid-19 has placed the whole world on lockdown, with new research from the United Nations World Tourism Organisation (UNWTO) showing that 100 percent of global destinations continue to have restrictions on travel in place, and 72 percent have completely closed their borders to international tourism. From the start of the crisis, the United Nations specialised agency for ...

ABU DHABI / WAM Department of Municipalities and Transport (DMT) has announced the introduction of 13 new services to its SmartHub digital platform, as part of its ongoing efforts to boost Abu Dhabi’s position in the global smart cities’ rankings. The 13 services fall under the vision of the Emirate’s wise leadership and Abu Dhabi government’s strategy to upgrade work ...

Abu Dhabi / WAM Since March this year, facilities management and maintenance company (Khidmah) completed numerous disinfection and sanitisation missions across residential and commercial units in the UAE. The company said in a statement that there has been a significant increase in demand for the services as companies prepare to reopen again in the near future and want to ensure ...

Dubai / WAM Majid Al Futtaim has announced a new opening date for its upcoming mall in Sharjah – City Centre Al Zahia. Now set to open in March 2021, the decision allows tenants sufficient time to prepare for their new store openings and ensure they can provide a compelling customer experience. In a statement by the company on Monday, ...

ABU DHABI / WAM The International Renewable Energy Agency (Irena), and the UAE Mission will co-host the agency’s members for the first of its quarterly “Renewables Talks” on May 13, in a virtual webinar. Set to be hosted every three months throughout the year, the first Renewables Talks will assemble Irena’s Permanent Representatives and the broader diplomatic community to discuss ...

ABU DHABI / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State, Chairman of the National Media Council (NMC), has stated that the media sector in the UAE is resilient enough to respond to the fallout of the Covid-19 pandemic and turn challenges to opportunities to reshape and implement pace-setting strategies that can be relied upon in the ...