News

Bloomberg The European Union (EU) is set to lay out its blueprint to raise nearly $1 trillion of debt over five years as it seeks to fund its recovery from coronavirus pandemic. The bloc is aiming to issue the first debt under its NextGenerationEU stimulus in June and will use a “state of the art” platform to begin selling bonds ...

Bloomberg Uber Technologies Inc. said gross bookings last month were the highest in a year as vaccination rates increase in the US, encouraging more people to get out of their homes. The company’s mobility unit, which handles ride-hailing services, passed $30 billion in annualised gross bookings run rate in March, Uber said in a securities filing. Average daily bookings rise ...

Bloomberg The French economy is slowing only slightly in April due to the tightening of Covid-19 restrictions, easing concerns that school closures would cause a deeper contraction. The Bank of France said activity will decline to 7% below pre-crisis levels in April after President Emmanuel Macron imposed stricter travel restrictions and ordered schools and nurseries to close. The hit to ...

Bloomberg Denmark will gradually reopen its borders to some countries next month when older Danes are expected to have gotten at least one Covid-19 vaccination shot, the government said. Denmark will be open to vaccinated citizens from European countries as of May 1, the government said. Residents who haven’t gotten a shot but come from European countries with low contamination ...

Bloomberg The UK economy rebounded in February as a mass vaccination program and the prospect of a loosening of coronavirus restrictions lifted consumer confidence. Gross domestic product rises 0.4% following a revised 2.2% decline in January, the Office for National Statistics said. All the main sectors of the economy saw output rise. The economy remains 7.8% smaller than it was ...

DUBAI / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has ordered the payment of bonuses totalling over AED14 million to citizens whose taxi number plates are used by the Dubai Taxi Corporation and Taxi Franchise Companies. Dubai’s Roads and Transport Authority (RTA) ...

Bloomberg Grab Holdings Inc, Southeast Asia’s most valuable startup, is going public in the US through a merger with blank-check company Altimeter Growth Corp. in what is the largest-ever deal of its kind. The Singapore-based startup is set to have a market value of about $39.6 billion after the combination with the special purpose acquisition company of Brad Gerstner’s Altimeter ...

Abu Dhabi / WAM Adnoc Logistics & Services (Adnoc L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (Adnoc), on Tuesday announced the acquisition of two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight. The VLCC fleet expansion plays a significant role in supporting ...

ABU DHABI / WAM Obaid Humaid Al Tayer, Minister of State for Financial Affairs, participated in the virtual International Monetary and Financial Committee (IMFC) meeting, which took place alongside the annual meetings of the International Monetary Fund (IMF) and the World Bank Group. The meeting deliberated the latest global economic developments and the financial and economic repercussions of the coronavirus ...

Dubai / WAM Emirates NBD has announced it is partnering with award winning fintech platform MoniMove to complement the bank’s E20. digital business bank initiative that aims to empower entrepreneurs, startups, SMEs and other businesses in the UAE. The partnership is aligned to Emirates NBD’s digital strategy as the bank continues to lead innovation in digital banking in the region ...