News

Dubai / WAM Shuaa Capital has approved the issuance of non-convertible bonds valued at $150 million in one or more tranches in a private placement. These bonds will be listed on a market outside the UAE, the company said in an announcement on the website of the Dubai Financial Market where its shares are listed. During the company’s ordinary general ...

Abu Dhabi / WAM Commercial and Islamic banks operating in Abu Dhabi recorded a total net income of around AED9.55 billion in Q2 of 2020, according to data issued by the Statistics Centre-Abu Dhabi (SCAD). The net income of traditional (commercial) banks in Abu Dhabi from interests, investments and other sources of income totalled AED8.5 billion, accounting for 89 percent ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) decided to resume operations of the four bus routes that serve the Global Village from the start of its new season 2020-2021. The RTA will also resume the electric Abra tourist services inside the village as of October 25, the date coincides with the silver jubilee of this premier tourist and ...

ABU DHABI / WAM Underlining Abu Dhabi’s reputation of prioritising the health of its residents and visitors, Mubadala Healthcare has introduced Wellness Ambassadors at all of its patient-facing facilities, including Cleveland Clinic Abu Dhabi, Imperial College London Diabetes Centre (ICLDC), Amana Healthcare, Healthpoint and Capital Health Screening Centre (CHSC). The initiative is part of a broader movement inspired by Etihad ...

Sharjah / WAM The Labour Accommodation Inspection Committee of the Sharjah Police, SP, recorded more than 21,000 violations against Covid-19 precautionary measures during its inspection campaigns at labour accommodations in various areas of the emirate of Sharjah. Brigadier Dr Ahmed Saeed Al Naour, Director-General of Central Operations in the Sharjah Police, and Chairman of the Executive Committee for Emergency, Crisis ...

Abu Dhabi / WAM The Ministry of Education (MoE) announced the implementation of the “Alef Platform” in all UAE public schools, which will allow the ministry to use the Alef Platform to achieve its goals of developing a digital education system capable of adapting with all possible changes caused due to Covid-19 pandemic and turn the challenges faced in distance ...

Bloomberg The US budget deficit more than tripled to a record $3.1 trillion in the latest fiscal year on the government’s massive spending aimed at softening the blow from the coronavirus pandemic. The increase brought the deficit as a share of gross domestic product to 16% in the year ending in September, the largest since 1945, a Treasury Department report ...

Bloomberg The UK, beset by growing coronavirus concerns and struggling to bridge the gap with the European Union over a post-Brexit trade deal, has had its credit rating cut by Moody’s Investors Service. The credit assessor cited softer economic growth, an erosion of fiscal strength and a weakening in institutions and governance as it lowered the nation’s grade by one ...

Bloomberg Justin Trudeau’s government is set to launch a diversity challenge as part of an effort to increase the share of women and minority groups in corporate leadership positions. The goal of the program — called the 50/30 challenge — is to encourage companies to reach gender parity on their boards and in senior management positions, and 30% representation of ...

Bloomberg Twitter Inc. is changing its Hacked Materials Policy, walking back a set of rules at the heart of its enforcement action against a controversial article that included potentially damaging allegations against US presidential candidate Joe Biden. In a series of tweets, policy chief Vijaya Gadde said the firm will no longer remove hacked content “unless it is directly shared ...