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Bloomberg Money transfer startup WorldRemit Ltd is seeking to raise cash at a valuation of about $5 billion ahead of a potential initial public offering. The London-based company is in talks with investors about a funding round, though the deal hasn’t been finalised and terms may still change, the people said, asking not to be identified discussing confidential information. The ...

Bloomberg Mexico is evaluating how to regulate worker conditions in the nation’s fast growing gig economy, which could involve legal changes, said Labour Minister Luisa Maria Alcalde. The country is working with the Social Security Institute and Mexico City authorities on a plan to regulate digital platforms, Alcalde said in an interview. There’s no proposal yet, she said, but there ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has approved six new projects in Hatta as part of the Hatta development plan. The projects announced by HH Sheikh Mohammed bin Rashid Al Maktoum include the establishment of 504km-long chairlifts, Dubai mountain peak at an altitude ...

Bloomberg Oil capped the week with the longest losing streak since 2019 as the dollar strengthened after the Federal Reserve signaled it will start tapering stimulus and the virus resurgence raises doubts about demand growth. West Texas Intermediate futures ended the session 2.2% lower, tumbling for a seventh day and extending the week’s decline to 8.9%. Other raw materials including ...

ABU DHABI / WAM The Higher Committee of Human Fraternity (HCHF) is following the situation in Afghanistan with great concern and hoping that the key actors there will advance the aspirations of the Afghan people to live dignified and peaceful lives. The HCHF called for protecting human rights, guaranteeing public and individual freedoms, and, in particular, safeguarding the rights of ...

DUBAI / WAM The Federation of UAE Chambers of Commerce & Industry (FCCI) has reviewed the prospects of consolidating ties with the Republic of Estonia on the basis of promoting common interests. This came as Abdullah Mohammed Al Mazrouei, Chairman of both the Federation of UAE Chambers of Commerce & Industry and Abu Dhabi Chamber of Commerce and Industry, received ...

BRUSSELS / WAM The EU will provide €41 million to help low and middle-income countries facing an unprecedented health, humanitarian and socio-economic crisis as the Covid-19 pandemic continues to persist, combined with the imbalance in the delivery of vaccines. To help countries in Latin America and the Caribbean, the Middle East and Asia tackle the consequences of the pandemic, the ...

Sharjah / WAM The Sharjah Documentation and Archive Authority (SDAA) received Dr Safaa Al-Alawi, Director of the National Archives at the Isa Cultural Centre (ICC) in the State of Bahrain, during an official visit to discuss ways of cooperation between the centre and the authority in regulating the management of government documents. The meeting began with a welcome speech, during ...

Dubai / WAM Dubai Customs’ efforts towards stimulating innovation culminated in a new summit of generating quality ideas conducive to innovations that improve and take customs work to the next level. The total number of innovative ideas generated and submitted by employees since the launch of the e-suggest system in 2000 reached more than 43,000 until end of first half ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 301,430 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As ...