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Bloomberg Carbon capture, the fossil-fuel industry’s favourite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service (IRS) recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology. “It’s ...

Bloomberg One Hong Kong businessman moved $10 million to Singapore and plans to transfer more. Another is eyeing London property, worried that prices in Hong Kong are too high. Well-to-do families across the city are opening offshore bank accounts and applying for alternative passports. While it doesn’t add up to an exodus just yet, Hong Kong’s rich are increasingly hedging ...

Bloomberg India’s Dharavi, the continent’s most crowded slum, has gone from coronavirus hotspot to potential success story, offering a model for developing nations struggling to contain the pandemic. Authorities have knocked on 47,500 doors since April to measure temperatures and oxygen levels, screened almost 700,000 people in the slum cluster and set up fever clinics. Those showing symptoms were shifted ...

Bloomberg The sister of North Korean leader Kim Jong-un said it is “high time” to break relations with South Korean authorities, adding the next action against the “enemy” will come from the army. It’s better to take a series of retaliatory measures rather than release statements condemning South Korea’s behaviour, and which could be misinterpreted or dismissed, Kim Yo Jong ...

Bloomberg European Central Bank (ECB) President Christine Lagarde and European Commission President Ursula von der Leyen are among leaders urging Italy to take advantage of the region’s proposed 750 billion-euro ($844 billion) recovery plan to speed up structural reforms. The so-called Next Generation EU plan is a “unique opportunity for Italy,” Von der Leyen said in a video message to ...

Bloomberg Chancellor of the Exchequer Rishi Sunak backed calls to ease the UK’s 2-meter social distancing rule to help the stalled economy get back to work, as he urged Britons to go shopping again. The government is conducting a “comprehensive review” of the regulation that requires people to remain 2 meters (6 feet 7 inches) apart in public to reduce ...

Bloomberg Stores on Oxford Street, London’s most famous shopping thoroughfare, will open Monday for the first time since March. The question is how many customers will show up. After locking down to slow the spread of the coronavirus, retailers in the capital and across England are desperate to get back to business. They’re rushing to install sneeze screens, “sanitation stations,” ...

Abu Dhabi / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) proactively invested in state-of-the-art technologies and established an advanced digital infrastructure to provide its customers with a range of electronic and smart services. The move is in line with the UAE leadership’s directives and visionary stance. With the onset of the Covid-19 pandemic around the world, MoFAIC ...

ABU DHABI / WAM Theodore Ribera, Minister of Foreign Affairs of the Republic of Chile, expressed his thanks and gratitude to the UAE for the aid plane sent to his country as part of the UAE’s efforts to help various countries around the world in containing the spread of Covid-19. This came as the minister received the airplane which carried ...

DUBAI / WAM The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (Esma) the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out ...