News

Bloomberg Spain is considering using part of a planned 11 billion-euro ($13 billion) fiscal package to provide debt relief to companies that have borrowed through the country’s state-backed loan program. The proposal would allow Spanish lenders a degree of flexibility to decide which borrowers should be granted relief, the officials said. Banks would absorb some of the write off and ...

Bloomberg Ireland’s economy expanded in 2020 despite the devastation of the pandemic as surging exports countered a slump in domestic demand. The nation’s GDP grows 3.4% in 2020, the central statistics office said, driven largely by the export sector. The domestic economy, however, struggled. “Today’s figures once again point to the dual economic impact of the pandemic, with domestic activities ...

Bloomberg German exports to Britain plunged in January, as the downward trend since the country voted to leave EU gathered pace. Already curtailed by the economic impact of the coronavirus, Brexit helped trigger a nearly 30% slump in German exports to the UK in the first month of the year, according to a preliminary estimate by the Federal Statistics Office. ...

Bloomberg Canada’s trade sector unexpectedly recorded its largest surplus in more than six years on across-the-board increases in exports. The nation ran a surplus of C$1.4 billion ($1.1 billion) in January from a revised deficit of C$1.98 billion in December, Statistics Canada said in Ottawa. Economists were predicting a gap of C$1.4 billion. It marked the first time Canada has ...

ABU DHABI / WAM World Business Times has recognised the ‘Together We Are Good’ programme, launched by the Authority of Social Contribution – Ma’an, as a leading initiative in bringing the community together and embodies the principles of human fraternity. The programme positively impacted more than 400,000 beneficiaries in Abu Dhabi, according to a report published on Wednesday by the ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that it will remove destination restrictions on its Murban, Upper Zakum, Das and Umm Lulu crude grades, starting from the first traded contract month of the new ICE Murban Crude Oil Futures Contract. The company also confirmed that Adnoc Onshore, the producer of Murban Crude Oil, ...

ABU DHABI / WAM Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED29 billion in cash dividends for 2020 have been proposed to date by 38 companies listed in the UAE capital markets, according to data released by the listed firms. Banks are the largest distributors of profits, with eight Emirati ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has issued a resolution to restructure the board of directors of Abu Dhabi Housing Authority, chaired by Falah Mohammad Al Ahbabi. The board members include deputy-chair Saif ...

Bloomberg Oil climbed ahead of a crucial Opec+ meeting, as the alliance was expected to agree a coordinated increase in output as the pandemic’s impact on the market recedes. Brent futures rose 1.5% after three consecutive days of losses for the first time since December. The widespread view among the Organization of Petroleum Exporting Countries (Opec) and its allies is ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed) and the International Finance Corporation (IFC), a member of the World Bank Group, are planning to establish a district energy investment platform in Singapore. The platform will invest in district cooling, trigeneration and cooling as a service offering with primary focus on India followed by other South East Asian countries. ...