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Abu Dhabi / WAM Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of a cash dividend of AED20.58 fils per share, representing 46.6 percent of net profits for the fiscal year ending December 31, 2020, as well as the Board of Directors Report, the Auditors Report and Financial Statements for the year. In its 2020 annual report, ...

Bloomberg Pioneer Natural Resources Co is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the US Permian Basin. The deal is comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and assumption of ...

Bloomberg The Philippines warned Beijing it would face a barrage of diplomatic protests if Chinese vessels believed to be part of a “maritime militia” do not leave disputed South China Sea areas, escalating the spat between the two nations. “For every day of delay, the Republic of the Philippines will lodge a diplomatic protest,” the Department of Foreign Affairs said ...

Bloomberg The US is pressing ahead with plans to hit six nations that tax internet-based companies with retaliatory tariffs that could total almost $1 billion annually. Goods entering the US — ranging from Austrian grand pianos and British merry-go-rounds to Italian anchovies — could face tariffs of as much as 25% annually, documents published by the US Trade Representative (USTR) ...

Bloomberg France’s economy will rebound less than previously expected this year due to the latest four-week nationwide lockdown aimed at halting a surge in coronavirus cases. French Finance Minister Bruno Le Maire cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. A Bloomberg survey in March showed economists were expecting the economy ...

Bloomberg Everyone in England will be urged to take a coronavirus test twice a week as a new system of Covid passports is assessed for wide-scale use, under Prime Minister Boris Johnson’s plan to reopen the economy after lockdown. Free test kits will be made available through local pharmacies, community centers and home delivery services, when the new regime goes ...

Bloomberg The personal data of more than half a billion Facebook Inc users reemerged online for free, a reminder of the company’s ability to collect mountains of information and its struggles to protect these sensitive assets. The leak includes personal information on 533 million Facebook users, such as phone numbers, Facebook IDs, full names, locations, birth dates, bios and in ...

Abu Dhabi / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, chaired a meeting of the Golden Jubilee Committee attended by HH Sheikha Mariam bint Mohamed bin Zayed Al Nahyan, Deputy Chairperson of the Committee. The meeting, which was held via video conference, presented the progress made since the committee’s previous meeting ...

Dubai / WAM The Business Registration and Licensing (BRL) sector in Dubai Economy and Amazon have launched a new programme to support DED Trader licence holders by providing interactive e-Learning content to help them thrive in the digital economy. The new programme is part of the cooperation between Dubai Economy and Amazon to support DED Trader licence holders interested in ...

DUBAI / WAM The United Arab Emirates has ranked 15th globally in Kearney’s 2021 Foreign Direct Investment (FDI) Confidence Index, up from 19th place in 2020. The UAE business environment demonstrated continued strengths in factors most important to investors, including government incentives for investors. The country’s strong enabling environment, featuring advanced technological infrastructure and high innovation levels, is also central ...