News

Bloomberg The number of jobs supported by the UK government’s pandemic support exceeds 12 million, highlighting the scale of the task facing Chancellor of the Exchequer Rishi Sunak as he prepares to announce his latest economic strategy on Wednesday. While the rate of increase in the use of the furloughing program and the self-employed plan has slowed since the height ...

Bloomberg The European Union (EU) may need an agency for regulating artificial intelligence (AI) to bolster consumer trust in the technology and help realise its economic potential, a German government official said. Justice Minister Christine Lambrecht made the comment to a European Parliament committee in Brussels on Tuesday while presenting priorities for Germany’s six-month presidency of 27-nation EU through December. She cited ...

Bloomberg France’s decision to give only temporary security approval for fifth-generation mobile equipment shows the government intends to gradually sideline Huawei Technologies Co., a majority party lawmaker said. The head of the country’s cybersecurity agency Anssi said this week it will grant time-limited waivers on 5G for wireless operators that use the Chinese company’s products. The measure will deter them ...

Bloomberg Novavax Inc., one of the front-runners in the race to develop a Covid-19 vaccine, will receive $1.6 billion from the US Operation Warp Speed program to develop its experimental shot. The funds will allow the company to conduct advanced human studies and establish manufacturing to deliver 100 million doses as soon as late 2020, Gaithersburg, Maryland-based Novavax said in ...

Bloomberg Alphabet Inc.’s Google and Deutsche Bank AG have agreed to form a long-term partnership that will see the US technology company provide cloud computing capabilities to Germany’s largest lender. “The partnership with Google Cloud will be an important driver of our strategic transformation,” Deutsche Bank Chief Executive Officer Christian Sewing said in a joint statement on Tuesday, confirming an ...

ADEN / WAM Over a three-year period, the UAE, represented by the Emirates Red Crescent (ERC) launched 32 projects to provide drinking water in the governorates of Yemen’s Red Sea Coast, benefitting some 600,000 people. The projects are part of a series of humanitarian projects implemented by the UAE to help the Yemeni people related to food aid, shelter, social ...

AL AIN / WAM Strata Manufacturing, the advanced composite aero structures manufacturing facility wholly-owned by Mubadala Investment Company, successfully delivered 100 shipsets of the assembled A350-900 Inboard Flaps (IBF). Having completed the full First Article Inspection for the fabrication of six IBF components at its facility in the Nibras Al Ain Aerospace Park, Strata now assumes fabrication and assembly duties ...

Bloomberg Pension fund managers from three continents have launched an online green-investing tool that measures companies against United Nations sustainable development goals. The SDI Asset Owner Platform will allow investors to assess 8,000 companies using the UN criteria, according to a statement on Monday. The four pension funds — APG Asset Management NV and PGGM NV from the Netherlands, British ...

Bloomberg Oil rose in London to above $43 a barrel as Saudi Arabia hiked its official selling prices, and as global equity markets climbed. Brent gained 1.3% in London to near the highest level since March. Saudi Aramco increased its crude prices to Asia as demand recovers. Libya’s oil exports are expected to fall this month as forces opposed to ...

Abu Dhabi / WAM The UAE on Monday sent a plane carrying over 12 metric tonnes of medical supplies and Covid-19 testing kits to Brazil in furtherance of joint cooperation to bolster the country’s efforts to curb the spread of Covid-19 and assist approximately 12,000 medical professionals as they work to contain the coronavirus. Commenting on delivery, Saeed Abdullah Mohammed ...