News

DUBAI / WAM Oman Insurance Company announced that it has posted a net profit of AED110.2 million in the first half of this year, a four percent increase as compared to the same period last year while having increased its solvency above 250 percent. Total Gross Premium Written (GPW) at the end of H1 2020 is AED2.1 billion (+3 percent ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, inaugurated the Mohammed bin Rashid Medical Research Institute, the UAE’s first independent biomedical research centre on Tuesday. Deputy Ruler of Dubai HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum; Chairperson of the Board of Trustees of ...

Abu Dhabi / WAM Etihad Guest, the award-winning loyalty programme of Etihad Airways, together with Adnoc Distribution, have expanded their partnership to bring greater reward benefits to members through a reciprocal agreement. “This partnership is an extension of the decades-long relationship between Etihad Airways and Adnoc Distribution, and the first partnership allowing members of both loyalty programmes to convert reward ...

New York / WAM The United Arab Emirates has reiterated its support for the people of Lebanon during a virtual briefing on the humanitarian situation in the country in the wake of the tragic Beirut explosion on August 4. “Our hearts go out to the people of Lebanon,” said Amiera Alhefeiti, Deputy Permanent Representative and Charge d’Affaires of the UAE ...

Abu Dhabi / WAM Seven new drive-through coronavirus screening centres have opened across the country. Seha’s Ambulatory Healthcare Services announced on Tuesday the launch of laser-based DPI testing (blood test) for people wanting to enter or renter Abu Dhabi at selected drive-through screening centres. “During the first phase, the service will be provided at screening centres in Zayed Sports City ...

Bloomberg Britain’s mounting labour market crisis was underscored by a 220,000 slump in employment during the height of the coronavirus lockdown, the worst decline since the global financial crisis. The fall in the second quarter coincided with a period that saw the most strict restrictions to contain the spread of the disease. The Office for National Statistics said early indicators ...

Bloomberg President Donald Trump’s decision to extend a student-loan freeze will take away a financial risk for tens of millions of US households, who now won’t have to resume paying back about $1.2 trillion of debt until at least 2021. The measure, one of four executive actions Trump took on August 8, keeps both repayments and the accumulation of interest ...

Bloomberg Hertz Global Holdings Inc. is seeking debtor-in-possession financing more than two months after filing for Chapter 11 protection, reflecting the reality that it still faces trouble ahead if travel doesn’t bounce back. The bankrupt rental-car giant said it is looking for new sources of cash with the travel business in a deep slump and proceeds from the sale of ...

Bloomberg Mark Carney, the only person to run two major nations’ central banks, is helping Justin Trudeau craft next steps in a plan to pull Canada out of a deep recession sparked by the coronavirus. Five months after stepping down as Bank of England governor, Carney has become an informal adviser on policy matters with the Canadian prime minister. Trudeau ...

Bloomberg Finland will quarantine travellers from most of the world to halt the spread of Covid-19. Just 25 countries are currently exempt from the mandatory quarantine, Krista Kiuru, minister for family affairs and social services, told reporters. Passengers who fail to comply face at most three months jail time or a fine and airlines will be required to disclose transit ...