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Dubai / WAM Terminus Technologies, a China-based leader in smart technologies such as artificial intelligence and robotics has been named Expo 2020 Dubai’s latest Premier Partner and has signed a long-term lease at District 2020 as part of the innovation ecosystem that will evolve after the event. As Expo 2020 Dubai’s Official Robotics Partner, Terminus will deploy more than 150 …

NEW YORK / WAM Deputy Permanent Representative of the Kingdom of Saudi Arabia to the United Nations Dr Khalid bin Muhammad Manzalawi has affirmed that the Kingdom of Saudi Arabia supports the UAE in its candidacy for non-permanent membership of the UN Security Council (UNSC) for the period 2022-2023, urging countries to support its candidacy. In his speech during the …

Tokyo / WAM Japan’s imports of crude oil from the UAE amounted to almost a third of its oil imports at 32 percent, or 22.6 million barrels, data from Agency for Natural Resources and Energy in Tokyo showed. The agency, part of Japanese Ministry of Economy, Trade and Industry, reported that Japan imported 70.7 million barrels during May, of which …

Bloomberg Oil edged lower as the resurgence of the coronavirus in the US continued to dampen the prospects of a broader demand recovery. Futures in New York fell 1.3% towards $39 a barrel. With the coronavirus running rampant across southern and western America and many states pausing or reversing reopening measures, the outlook for energy demand in the world’s largest …

Bloomberg Oil steadied in New York as the boost from a weaker dollar offset concerns that the resurgence of coronavirus will crimp fuel demand. Futures held above $38 a barrel, recouping earlier losses of 2.6% as the slide in the US currency made dollar-priced commodities an attractive hedge. Still, sentiment in crude markets remained fragile after last week’s 3.2% slide. …

Bloomberg Of the more than $110 billion in additional funding that sub-Saharan Africa will need this year to fight the coronavirus pandemic, $44 billion has not been financed yet even after several countries have taken up emergency loans and debt-service relief initiatives, according to the International Monetary Fund (IMF). The funding needs persist despite the IMF approving debt-service relief for …

ABU DHABI / WAM The General Civil Aviation Authority (GCAA) announced that all inbound passenger flights, including transit, from Pakistan to the UAE have been suspended until further notice. The suspension, which came into effect on Monday, will continue until a dedicated laboratory test for Covid-19 is established in Pakistan to ensure all passengers headed to the UAE have been …

Bloomberg The profits of Chinese industrial enterprises rebounded in May for the first time since November 2019, signaling the economy is continuing to recover from the coronavirus shutdowns Industrial profits rose 6% to 582.34 billion yuan ($82 billion) last month from a year earlier, data from the National Bureau of Statistics showed Sunday. That compared with a decline of 4.3% …

Bloomberg Oil posted its second weekly loss for the month, as a surge in US coronavirus cases clouds the demand outlook and casts doubts on the market’s recovery. Futures in New York slipped 3.2% this week. The price slump comes just days after oil closed above $40 for the first time since early March, and following a run of weekly …

Bloomberg The European Union (EU) moved closer to recommending that travelers from the US shouldn’t be allowed to enter the bloc even after July 1, according to a draft decision being considered by governments. Diplomats have agreed on a provisional list of 15 countries, including Canada, Japan, Australia and South Korea, that should be allowed into the EU because their …