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Bloomberg Around 1,000 European Union (EU) finance firms are expected to open their first offices in the UK after losing their passporting rights because of Brexit. Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory permission to continue operating in the UK previously had no physical operations in Britain, according to Financial Conduct ...

Bloomberg Europe’s consumer-facing companies face a critical choice for when the pandemic passes: should they exploit the expected pickup in business by raising prices? There’s likely to be a rush to hairdressers, restaurants and tourism agencies reopening when virus curbs end, fueled by pent-up demand and a hoard of cash accumulated after more than a year of forced saving. Some ...

Bloomberg The European Union (EU) unveiled several programs aimed at boosting the bloc’s civil, space and defense industries, including a low-earth orbit satellite infrastructure to rival Elon Musk’s Starlink network. The push will aim to provide reliable, secure and cost-effective connectivity for governmental and commercial communications, as well as high-speed broadband throughout Europe, the European Commission said on Monday. The commission ...

Bloomberg Italian Prime Minister Mario Draghi has extended a ban on movement between the country’s 20 regions for another month — until late March — as his new government tries to step up a vaccination campaign to counter the pandemic. A cabinet meeting chaired by Draghi prolonged travel curbs between regions until March 27 and maintained a 10 p.m. curfew, ...

NEW YORK / WAM At the 59th Session of the Commission for Social Development at the UN, the UAE underscored the importance of digital technologies, universal accessibility, and affordable connectivity to achieve the Sustainable Development Goals and promote social development at the UN. Hessa Tahlak, Assistant Undersecretary of Social Development, reflected on how the UAE has made new and emerging ...

ABU DHABI / WAM The first day of the International Defence Exhibition (Idex) and the Naval Defence Exhibition (Navdex) 2021 has seen the UAE Armed Forces sign 19 deals, worth AED 5.03 billion, with local and international companies. The deals came on the first day of the two exhibitions, which will run until February 25. Staff Brigadier-General Mohammed Al Hassani, ...

BRASILIA / WAM Saleh Ahmed Al Suwaidi, UAE Ambassador to Brazil, discussed with Tarcísio Gomes de Freitas, Minister of Infrastructure of Brazil, ways of advancing overall cooperation between the UAE and Brazil, most notably in the infrastructure and investment sectors. They also addressed Brazil’s participation in Expo 2020 Dubai. During the meeting, Al Suwaidi stated that relations between the two ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Sunday outlined its technology leadership ambition to position the company at the forefront of innovation and advanced technologies, particularly AI and digitalisation, as it kicked off its first Innovation Week. Taking place virtually from February 21-25, the Adnoc Innovation Week is bringing together thousands of its employees to ...

Bloomberg UK Chancellor Rishi Sunak plans to introduce new visas for financial technology workers in next month’s budget, part of a package of proposals in a report aimed at boosting the industry in the country, according to newspapers. The fast-track visa program is designed to lure global talent to Britain’s fintech companies and will mirror a similar policy for scientists, ...

SHARJAH / WAM UAE BARQ has launched a new smart application with unique features and categories for all community members in the UAE. This comes within the framework of UAE BARQ continuous efforts and in line with its strategic plans to keep pace with the smart transformation in the UAE and providing innovative and advanced solutions for users. Khalid Safar ...