News

Abu Dhabi / WAM Mubadala Investment Company on Tuesday announced that it is pumping 200 million euros into Evotec SE, a German pharmaceutical company that specialises in drug discovery solutions. Evotec SE said that it resolved a capital increase from its authorised capital without pre-emptive rights against cash. Evotec will issue a total of 11,478,298 new shares to Mubadala Investment ...

Abu Dhabi / WAM Abu Dhabi Securities Exchange (ADX) on Tuesday announced the launch of its latest investment service “Covered Short Selling” (CSS) to support the exchange’s strategy of diversifying investment and providing investors with a broader range of hedging mechanisms. By doing so, it will attract a new segment of specialised and experienced investors, driving both liquidity and trading ...

Bloomberg The International Monetary Fund (IMF) warned that the world economy still faces an uneven recovery until the coronavirus is tamed even as it offered a less-dire view of this year’s recession following massive stimulus from central banks and governments. The fund now forecasts world gross domestic product (GDP) to shrink 4.4% this year, compared with the 5.2% drop seen ...

Bloomberg The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the International Energy Agency (IEA) said. After an unprecedented 8% drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the Paris-based agency said on ...

ABU DHABI / WAM The Mohamed bin Zayed Species Conservation Fund (MBZ Fund) on Tuesday announced it will expand its grant-making criteria to help partners meet core emergency operating needs precipitated by the Covid-19 crisis. The move aims to ensure the survival of small, grassroots conservation organisations whose finances have been impacted by the pandemic. To help organisations avoid layoffs, ...

Abu Dhabi / WAM The Director-General of the National Emergency Crisis and Disasters Management Authority (NCEMA) Obaid Rashid Al Shamsi, has said that the UAE is a pioneering global model in the way it responded to the pandemic, thanks to the government’s foresight and proactive approach in managing the crisis. In a speech on the occasion of International Day for ...

SHARJAH / WAM The Commercial Officers at Sharjah Economic Development Department (SEDD) carried out 35,971 inspections on establishments since the beginning of coronavirus pandemic until September, to ensure they are adhering to precautionary measures. These campaigns were held periodically to ensure the safety of all establishments and practices across the Emirate of Sharjah. Likely, SEDD intensified its role during the ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 96,989 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 ...

Abu Dhabi / WAM Khalifa University of Science and Technology today announced a team of researchers has successfully developed the first working prototypes of NavaMASK, a fully ‘biodegradable’, ‘biocompatible’, environment-friendly and novel anti-viral adaptive face mask with nanofibers that will have strong anti-microbial properties. The researchers have already filed for a patent license for the mask’s bio-material. NavaMASK will offer ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) launched an online campaign for World Energy Day, which is observed on October 22 every year. This is part of its continuous efforts to engage the public in achieving sustainable development and raise awareness on the importance of energy conservation, increasing energy efficiency and supporting energy sustainability. World Energy Day is ...