News

Sharjah / WAM “Salam Beirut”, an emergency aid campaign that is providing relief for victims of the devastating explosion that struck Port Beirut, launched by Sheikha Jawaher bint Mohammed Al Qasimi, wife of His Highness the Ruler of Sharjah, Chairperson of The Big Heart Foundation (TBHF) and Eminent Advocate for Refugee Children at the UNHCR, has commenced work on the ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC) is continuing its initiatives to prevent drought and providing sources of water in Yemen, after launching hundreds of projects related to drinking water in areas suffering from water scarcity. Under this framework, ERC inaugurated a new development project that will provide water in the Hadramaut Desert, which includes a 470-metre artesian ...

Dubai / WAM GTA dnata, dnata’s joint-venture company in Canada, has been awarded a 5-year ground handling license and will establish operations at Vancouver International Airport (YVR). The company will provide quality and safe ramp, passenger and cargo warehousing services to airlines with a team of highly trained, customer-oriented aviation professionals. GTA dnata will commence operations at YVR in the ...

Abu Dhabi / WAM The Emirates Global Aluminium (EGA) on Wednesday announced the launch of the EGA Women’s Network in celebration of Emirati Women’s Day 2020 and also to signal the company’s commitment to improving gender diversity both within and in the heavy industry sector in the UAE. The EGA Women’s Network will enable women at EGA to form a ...

Bloomberg Germany extended a program that has kept millions of people from losing their jobs, allocating around 10 billion euros ($11.8 billion) more to help Europe’s biggest economy recover from the coronavirus crisis. At a meeting in Berlin, Chancellor Angela Merkel’s coalition agreed to provide job-preserving subsidies until the end of 2021. The subsidies, known in German as “Kurzarbeit” and ...

Bloomberg More than $54.3 billion in US commercial mortgage backed securities have been transferred to loan workout specialists mostly because of payment delinquencies, a 320% increase since the start of the Covid-19 pandemic, according to Moody’s Investors Service. Hotel and retail properties, the sectors hit hardest by restrictions on travel and public gatherings to reduce virus transmissions, make up the ...

Bloomberg WorldRemit Ltd., a UK online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking. The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more than $1.5 billion, according to ...

Bloomberg France’s government gave further hints on Wednesday about the contents of its 100 billion-euro ($118 billion) plan to boost the economy as it seeks to reassure the country it has the situation under control. Measures will include 2 billion euros for cultural sector, Prime Minister Jean Castex said in an interview on France Inter radio. Initially due earlier this ...

Bloomberg Wirecard AG will eliminate more than half of its staff, about 730 jobs, and make other “far-reaching cuts” to preserve cash as a Munich court opened insolvency proceedings against embattled German payments company. The court named lawyer Michael Jaffe to be permanent administrator in a statement. The current supervisory board will surrender its control of the company and may ...

Bloomberg British supermarkets will be banned from selling beef, soy and other key commodities sourced from illegally deforested land, under new government plans. Large businesses operating in the UK will have to show that commodities including soy, cocoa and palm oil, sourced in their supply chains complied with local environmental laws when being produced. Companies that fail to do so ...