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DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa) visited the hydroelectric power station in Hatta to review work progress of the project, which is the first of its kind in the GCC region. According to Dewa, the 250MW station will generate electricity by making use of the water stored in Hatta ...

DUBAI / WAM DMCC, the Free Zone and Government of Dubai Authority on commodities trade and enterprise, will host six diamond tenders in its Dubai Diamond Exchange, the world’s largest diamond tender facility, in January. This follows a record-breaking tender hosted in December 2020, which saw the largest ever rough diamond tender sales in the UAE, in a sign that ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 156,520 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. As part of its intensified testing campaign, MoHAP announced 2,067 new coronavirus cases, bringing the total number of recorded cases in the UAE to 218,766. The ministry also noted that an ...

Sharjah / WAM The Sharjah Commerce and Tourism Development Authority (SCTDA) has announced the resumption of desert tours and related activities in the emirate with strict implementation of the precautionary measures and guidelines issued for desert tours and Sharjah tour operators. This latest decision comes as part of the efforts to resume the tourism activities in the emirate at a ...

Bloomberg Europe’s latest lockdowns are presenting citizens with even more hurdles to spending money, swelling already-hefty savings that stand ready to fuel the recovery once vaccines tame the pandemic. Households in the euro zone accumulated a mountain of cash when businesses shut in the spring. Now in a lengthening second wave of closures, they are sitting on about $615 billion ...

Bloomberg Chancellor Angela Merkel extended Germany’s lockdown and tightened restrictions as pressure mounts on her government to contain the coronavirus spread and speed up vaccinations. With hundreds dying each day, political tensions have been high and threaten to escalate further amid a rising tide of criticism over the government’s strategy to distribute a Covid-19 shot. At an ill-tempered meeting, Merkel ...

Bloomberg A measure of US manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011. A gauge of factory activity unexpectedly increased to 60.7 from 57.5 a month earlier, according to Institute for Supply Management data. Readings above 50 indicate expansion and ...

Bloomberg French restaurant owners are readying for more disappointment, as rising virus numbers threaten to delay the reopening of the country’s food and beverage industry. The government will push back the planned January 20 reopening of restaurants and cafes, broadcasters France Info and RTL reported after Alain Griset, minister for small and medium-sized businesses, said that it’s unlikely Covid surge ...

Bloomberg UK businesses were suffering even before the latest lockdown, leaving many in a precarious position as they enter new restrictions with what many say is insufficient government support, a survey showed. The findings from the British Chambers of Commerce in November add to pressure on Chancellor of the Exchequer Rishi Sunak to extend aid to companies beyond the $12,000 ...

Bloomberg Oil breached $50 a barrel as Saudi Arabia pledged a voluntary oil-production cut next month, while most of the Opec+ alliance agreed to hold its production steady. Futures in New York rose as much as 5.1%, topping $50 a barrel for the first time since February before easing off the high. Saudi Arabia didn’t provide a volume on the ...