ABU DHABI / WAM The Department of Municipalities and Transport (DMT) announced that the number of building permits issued by its subsidiaries in the first quarter of this year increased by 10 percent compared to the same period last year to reach 2,563 permits for buildings in various vital sectors. According to the department’s report, the building permits for residential ...

ABU DHABI / WAM The number of economic incentives launched by the Federal Government and local governments in the country’s emirates exceeded 100 over 45 days, as per a survey conducted by the Federal Competitiveness and Statistics Authority. These incentives include providing banking facilities to various economic sectors and small and medium-sized enterprises (SME) in addition to individuals, as well ...

ABU DHABI / WAM Al Dahra Holding LLC announced the signing of a Memorandum of Understanding (MoU) for a strategic partnership with Bulgaria-based AJD Agro Ltd. for the cultivation and supply of essential crops and forage – including alfalfa and other grasses – and the establishment of forage processing and dehydrating plants across various locations in Bulgaria in the near ...

Bloomberg An Indonesian maker of clothes for Prada and Armani is now producing millions of hazardous material suits after the government called for help fighting Covid-19. PT Pan Brothers, which also makes garments for Adidas, is pumping out jumpsuits along with millions of face-masks each week, many of then headed to front-line workers. While the focus has been on domestic ...

Bloomberg India has banned use of air ambulances and other medical evacuations unless the treatment required is not available locally, as a nationwide lockdown to curb the spread of the coronavirus is extended, according to people with knowledge of the matter. Planes carrying patients will only be allowed to fly if local authorities determine treatment isn’t available at the point ...

Bloomberg Indonesian President Joko Widodo called for an urgent expansion of testing and aggressive containment measures to prevent the spread of coronavirus that’s killed almost 600 people in the world’s fourth-most populous nation. Large scale testing nationwide should be followed by aggressively tracking and isolating those exposed to the deadly disease, Jokowi, as the president is known, told a cabinet ...

Bloomberg China urged India to revise new investment rules that seek to block companies from neighboring nations taking over local businesses, saying they’re in violation of principles laid down by the World Trade Organization. The curbs seeking to cut the risk of opportunistic takeovers as the coronavirus outbreak drives down valuations of Indian companies “go against the general trend of ...

Bloomberg While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation, predicting how they are likely to perform in the future has never been so hard. The uncertainty stemming from the virus and countries’ efforts to contain it have made it harder to estimate short-term earnings than at any other ...

Bloomberg In the middle of a viral pandemic, a crash in the price of oil and an economic slump not seen in 100 years, Royal Dutch Shell has unveiled what is likely the most ambitious climate plan of any major oil company in the world. In doing so Shell seems to have one-upped BP, which released its blueprint in February. ...

Bloomberg Oil in New York has slumped to its weakest structure on record as the current contract nears expiration, adding extra volatility to a market that’s grappling with a glut and evaporating demand. West Texas Intermediate crude futures on Monday fell to the biggest-ever discount to those for the following month, a structure known as contango that indicates near-term oversupply. ...