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Bloomberg More than $54.3 billion in US commercial mortgage backed securities have been transferred to loan workout specialists mostly because of payment delinquencies, a 320% increase since the start of the Covid-19 pandemic, according to Moody’s Investors Service. Hotel and retail properties, the sectors hit hardest by restrictions on travel and public gatherings to reduce virus transmissions, make up the ...

Bloomberg France’s government gave further hints on Wednesday about the contents of its 100 billion-euro ($118 billion) plan to boost the economy as it seeks to reassure the country it has the situation under control. Measures will include 2 billion euros for cultural sector, Prime Minister Jean Castex said in an interview on France Inter radio. Initially due earlier this ...

Bloomberg British supermarkets will be banned from selling beef, soy and other key commodities sourced from illegally deforested land, under new government plans. Large businesses operating in the UK will have to show that commodities including soy, cocoa and palm oil, sourced in their supply chains complied with local environmental laws when being produced. Companies that fail to do so ...

Dubai / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum said that safety of students and teachers is top priority, adding that he is looking forward to a “safe start” to the school year for a million pupils across the country. “We look forward to a safe ...

Abu Dhabi / WAM Abdullah bin Touq Al Marri, Minister of Economy; Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, and Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met with Khalid Jasim Al Midfa, Chairman of the Sharjah Commerce and Tourism Development Authority (SCTDA) to discuss areas of cooperation to support ...

Abu Dhabi / WAM Zayed University (ZU) is all set to implement a hybrid education model through the Fall 2020 semester at its campuses in Abu Dhabi and Dubai. The “hybrid” (or “blended”) education model enables teaching and learning to continue both online and partially on campus. The university commenced all classes online on August 24, and is set to ...

Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi announced that it has completed the first phase of offering free internet service project in public buses in the Emirate of Abu Dhabi. The first phase included 520 public buses in Abu Dhabi Emirate; 410 buses in Abu Dhabi City and ...

Abu Dhabi / WAM As part of its road safety campaign, the Abu Dhabi Police (ADP) stressed that being preoccupied while driving on the road poses a danger to other road users and could lead to serious traffic accidents. The ADP urged drivers to focus on road and pay attention to pedestrians and road signs in order to avoid accidents, ...

Abu Dhabi / WAM Adnoc Distribution has trained 254 UAE national employees to take on leadership roles across its network of service stations. ‘Tomooh’ – meaning ambition in Arabic – is a customised frontline leadership programme developed in collaboration with the Higher Colleges of Technology (HCT). Led by the Centre of Excellence for Applied Research and Training (CERT) – the ...

Bloomberg Oil gained towards $43 a barrel as Laura was predicted to become a major hurricane, menacing crude production and refineries in the US Gulf. Futures in New York edged higher, though gains were outpaced by the global Brent benchmark. Tropical Storm Laura is expected to make landfall on Thursday as a Category 3 hurricane with winds as strong as ...