News

Bloomberg Britain’s car industry showed signs of improvement in June, spurred by the reopening of showrooms from lockdown measures designed to curtail the spread of Covid-19. Registrations last month totaled 145,377 vehicles, a drop of 35% compared with June 2019, the Society of Motor Manufacturers and Traders said in a statement. Year to date, the tally is still 49% down, ...

Bloomberg Argentina presented an improved debt offer to restructure $65 billion of foreign bonds in an attempt to reach a deal with its creditors after more than two months of stalled talks. The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release. The latest proposal will include minimum participation ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan approved the new structure of the UAE Government. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, after consultations with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander ...

Bloomberg The world economy is entering the second half of 2020 still deeply weighed down by the coronavirus pandemic with a full recovery now ruled-out for this year and even a 2021 comeback dependent on a lot going right. It’s a scenario few if any predicted at the start of the year when most economists were banking on another year ...

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa) announced on Sunday that international credit rating agencies Moody’s Investors Service and Fitch Ratings upgraded its final issuer ratings by three notches to Aa3 from A3 and by two notches to AA- from A, respectively. The ratings represent fourth highest investment grade rating on each of agencies’ rating scales and ...

Abu Dhabi / Emirates Business Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has recorded high levels of digital adoption across its retail and corporate banking services in the first half of 2020. Nearly 60% of ADIB’s retail customers have used digital channels, registering more than 2 million transactions every month as customers conduct a wide range of banking ...

Dubai / WAM Dubai’s ease of doing business is expected to improve further following the Dubai Chamber of Commerce and Industry’s announcement that it is cooperating with the Dubai Airport Freezone Authority (Dafza) to connect the digital services of both organisations. Under the terms of the new partnership, companies can register as Dubai Chamber members, or renew their existing membership, ...

AJMAN / WAM In a new look, Abdullah Al Muwaiji, Chairman of Ajman Chamber of Commerce and Industry, launched the website of the Chamber during a virtual meeting joined by members of the Board of Directors. The step comes within the endeavors of the Ajman Chamber to improve its electronic and smart services and to motivate its members and customers ...

Dubai / WAM The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, with the strict implementation of precautionary measures for the safety of clients and employees. The DFM Trading Floor and Customer Affairs counters were temporarily closed mid-March. The DFM has maintained its ...

DUBAI / WAM The National Computer Emergency Response Team (aeCERT) of the Telecommunications Regulatory Authority (TRA) responded to approximately 103,408 cyber-attacks, during the month of June. The TRA revealed that its monthly report on cybersecurity developments in the Federal Government of the UAE for the month of June showed that the cyber-attacks varied between malware (73 percent), vulnerabilities (15 percent) ...