News

Bloomberg Employers probably kept hiring millions of Americans in June as states gradually lifted pandemic-related restrictions on businesses in a delicate balancing act of getting economies rolling again while limiting infection rates. Economists project the Labour Department will report a three million increase in payrolls after a surprising 2.5 million gain a month earlier. The back-to-back gains, nonetheless, pale in ...

Bloomberg Wirecard AG expects its provisional insolvency administrator to be appointed shortly as the scandal-hit payment company said its business activities will continue. Once lauded as one of Germany’s most successful up-and-coming businesses, Wirecard filed for insolvency after the company said that 1.9 billion euros ($2.1 billion) previously reported as cash on its balance sheet probably doesn’t exist. In a ...

Bloomberg Peru will lift quarantine measures for most of the country starting July 1, easing one of the world’s strictest lockdowns as it faces a severe economic slide. Mandatory isolation orders will end for all but a handful of departments, according to a government decree, which left in place a state of emergency until July 31. Children and the elderly ...

Bloomberg Perhaps the most challenging riddle for investors in the pandemic is whether another centuries-old scourge is going to return. Inflation can wreck even the safest portfolio by eroding the value of investments for decades. But you would be hard pressed to find anyone among the younger generation of investors, within developed markets at least, who has faced it in ...

Dubai / WAM District 2020, the innovation ecosystem and future of Expo 2020 Dubai, signed strategic partnerships with Dubai SME and the Mohammed Bin Rashid Innovation Fund (MBRIF) to support its global entrepreneur programme, Scale2Dubai. In line with Dubai and the UAE’s proactive approach to supporting small and medium enterprises, SMEs, and the important role they play in bolstering the ...

Bloomberg Oil posted its second weekly loss for the month, as a surge in US coronavirus cases clouds the demand outlook and casts doubts on the market’s recovery. Futures in New York slipped 3.2% this week. The price slump comes just days after oil closed above $40 for the first time since early March, and following a run of weekly ...

DUBAI / WAM Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), has held a video conference with Michael Dell, Chairman and CEO of Dell Technologies, a global leader in telecommunications and information technology. The meeting aimed at sharing the best international practices and experiences between the two organisations to adopt and offer futuristic digital ...

ABU DHABI / WAM The General Command of Abu Dhabi Police announced on Saturday that traffic is banned for heavy vehicles and trucks on roads restricted to peak times in the Emirate of Abu Dhabi, starting June 28. According to a statement issued by Abu Dhabi Police, in Abu Dhabi city peak times will be from 6:30 am to 9:00 ...

Bloomberg The European Union (EU) moved closer to recommending that travelers from the US shouldn’t be allowed to enter the bloc even after July 1, according to a draft decision being considered by governments. Diplomats have agreed on a provisional list of 15 countries, including Canada, Japan, Australia and South Korea, that should be allowed into the EU because their ...

DUBAI / WAM The Dubai Future Foundation (DFF) has focused on climate change, one of the defining challenges of our time in its 12th “Life After Covid-19” report. Titled “Life After Covid-19: Climate Change”, the report highlights the transient positive impact this exceptional period has had on lowering greenhouse gas emissions around the world as a result of the decline ...