Bloomberg Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history. Futures tumbled more than 9% after losing a quarter of their value last week. Demand for jet fuel, gasoline and diesel is falling off a cliff as a result of ...

DUBAI / WAM The Smart Dubai Department launched the ‘100% Paperless Stamp’ initiative as part of its contribution to the ‘Government Development Track’ – one of six tracks announced by Dubai Council, which was inaugurated at the beginning of 2020 by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. ...

ABU DHABI / WAM The Central Bank of the UAE announced on Monday that it will cut interest rates, beginning March 16, following US Federal Reserve cuts to contain the economic repercussions of coronavirus. Following US Federal Reserve Board’s decision to cut the Federal Funds Rate at an emergency meeting to contain the repercussions of the global pandemic Covid-19, the ...

ABU DHABI / WAM The Emirates Global Aluminium (EGA) on Monday announced the winning team for the 2020 edition of Al Robot, a robotics competition that challenges students at universities and higher education institutions in the UAE to design and build industrial robots for use at EGA’s aluminium smelters. The winning team was from Abu Dhabi University and competed against ...

SHARJAH / WAM The Sharjah Economic Development Department (SEDD) has announced that it has intensified health and safety control campaigns on business establishments within the emirate to ensure the general public’s safety. According to a statement issued by the department, all cinemas, amusement parks, amusement and electronic games centres, bodybuilding and fitness gyms are to close from March 16-31. The ...

ABU DHABI / WAM Zayed House for Islamic Culture (ZHIC) has distributed more than 48,000 publications in 13 languages to interested persons, public and private entities, cultural institutions and UAE embassies abroad. The distribution aims to enrich the content of the Islamic culture and enhance the status of the Arabic language in the UAE community, said a ZHIC press release ...

DUBAI / WAM The Board of Directors of the Federal Tax Authority (FTA) has approved financial statements for 2019, and adopted a number of executive decisions on the FTA’s organisation, administration, and operations, during its 11th meeting, chaired by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the FTA’s Board of ...

DUBAI / WAM The Awqaf and Minors Affairs Foundation (AMAF) in cooperation with the Dubai Education Zone, declared that it will allocate AED300,000 to provide 200 computers to students of Dubai schools. The foundation’s donation is part of its support for the “Distance Education Initiative” recently launched by the Ministry of Education through the “Smart Learning Portal.” Ali Al Muttawa, ...

AJMAN / WAM Government bodies in the Emirate of Ajman have announced the temporary closure of wedding venues, fitness clubs and massage centres as part of precautionary measures to mitigate the spread of coronavirus. Shopping malls in the emirate will also see the installation of thermal surveillance equipment to monitor the temperatures of mall visitors. The Ajman Department of Economic ...

Abu Dhabi / WAM The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the emirate of Abu Dhabi, has announced a new standard for home delivery of patients’ medication as per certain mechanisms and procedures. The service will only be provided by licensed pharmacies which adhere to the requirements of DoH’s new standard. The ...