Bloomberg Land Securities Group Plc slashed the value of its properties by 945 million pounds ($1.2 billion) as the coronavirus pandemic forces thousands of stores to close. The company, one of the UK’s largest real estate investment trusts, incurred most of the damage in retail assets that were written down by more than 20% outside London and about 17% in ...
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Bloomberg A Covid-19 vaccine from Pfizer Inc may be on the horizon, but the cost of distributing vaccines across all 50 states and who will pay for that operation remains a huge stumbling block. What is clear is that much of the financial burden and logistical challenge of getting a vaccine to people has fallen on the shoulders of state ...
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Abu Dhabi / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, stated that changes to oil prices are caused by supply and demand, and it is too early to say whether the coronavirus pandemic will permanently affect demand, which is the main factor for determining oil prices. The trust in oil markets is gradually returning, due to ...
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Abu Dhabi / WAM Masdar, one of the world’s leading renewable energy companies, and First Abu Dhabi Bank (FAB) announced the completion of an energy and water-saving retrofit project for an Abu Dhabi-based school for People of Determination. The Future Rehabilitation Centre in Mohammed bin Zayed City is benefitting from energy reductions of over a third and water savings of ...
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Abu Dhabi / WAM Abu Dhabi’s non-oil foreign trade sector demonstrated agility and preparedness, reaching AED151.18 billion from January to September this year, despite the Covid-19 pandemic. The sector also distributed imports worth AED69.33 billion, exports worth AED55.37 billion, and re-exports worth AED26.48 billion. The General Administration of Abu Dhabi Customs continued its pioneering efforts to continue the uninterrupted flow ...
Read More »DUBAI / WAM Virgin Hyperloop made history on Monday as the first passengers successfully traveled in a Hyperloop pod. The significant investment made by Dubai-based DP World, the leading global provider of smart logistics solutions, in the research and development of hyperloop technology, has played an instrumental role in today’s milestone. Sultan Ahmed bin Sulayem, Chairman of Virgin Hyperloop and ...
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Bloomberg Oil advanced near $38 a barrel and gold climbed for a third day as President-elect Joe Biden prepared to transition into White House even as Donald Trump rejected the outcome of US election. Crude futures in New York rise 2.3% and spot gold added 0.2% amid a broader rally in global stocks. The dollar extended declines. While Biden declared ...
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Abu Dhabi / WAM Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (Adnoc), on Monday called on the oil and gas industry to unite in driving the post-Covid recovery. During his opening keynote address of the 36th edition of the Abu Dhabi International Petroleum Exhibition Conference ...
Read More »Dubai / WAM Commercial Bank of Dubai (CBD) announced the opening of a dedicated Business Service Centre in Gulf Vision Government Transactions Centre, located at Al Nahda Centre, Ghusais – Dubai. The prime location provides easy access to a wide range of services from trade license, immigration, health, emirates ID and banking services all under one roof for businesses. Omar ...
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DUBAI / WAM Enoc Group launched containerised fuel storage tanks to meet the large-scale refuelling requirements for companies in the construction, mining and transportation sectors. With a capacity to carry up to 41,000 litres of all fuel types including Diesel 10ppm, Biodiesel5, Gasoline Special 95, and Gasoline Super 98, the tanks can be installed at customers premises, which reduces transportation ...
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