Bloomberg The head of the International Monetary Fund (IMF) called on private creditors to join the Group of 20 in providing debt relief for the world’s poorest nations, saying that the alternative to suspension and restructuring is defaults. A debt-service suspension would provide time for restructuring debt on a case-by-case basis in nations where debt sustainability needs to be restored, ...
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Abu Dhabi / WAM Means to advance cooperation opportunities between the Abu Dhabi Fund for Development (ADFD) and Colombia were discussed over a virtual meeting. Mohammed Saif Al Suwaidi, Director General of ADFD held a video conference with Marta Lucia Ramirez, Vice President of Colombia, where both parties focused discussions on relations between the UAE and Colombia and ways to ...
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ABU DHABI / WAM The central bank of the UAE (CBUAE) has projected the recovery of economic activity to commence in the second half of the year. The first quarter economic activities witnessed mixed movements, with the UAE economy performing well during the first two months of 2020. The bank affirmed — in the Quarterly Economic Review 2020 published on ...
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ABU DHABI / WAM Inspired by the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and as per the directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy ...
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ABU DHABI / WAM Etihad Engineering, the Maintenance, Repair and Overhaul (MRO) arm of Etihad Aviation Group, has been expanding its operations in aircraft maintenance and parking, to meet the new requirements of airline operators as fleets have been grounded due to the Covid-19 pandemic. In a statement on Wednesday, Etihad Engineering said, “The MRO provider continues to adapt to ...
Read More »Abu Dhabi / WAM Tawam Hospital in Al Ain has announced the launch of two mobile Covid-19 screening clinics for individuals that show symptoms of the disease. The hospital – an Abu Dhabi Health Services Company (Seha) facility – noted that the clinics are stationed in two different locations. The first clinic is based opposite Al Jimi Malla, while the ...
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Abu Dhabi / WAM Abu Dhabi University (ADU) has been ranked among the top 750 universities in the world for the third year in a row, according to the 2021 QS World University Rankings. ADU recorded an increase of 15 percent in Academic Reputation, the world rankings indicator with the highest weightage. Reinforcing this performance, the university also improved at ...
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Dubai / WAM Dubai International Financial Centre (DIFC) announced that it has welcomed Tata Asset Management Limited (TAML) to the centre. Tata Asset Management is one of the earlier asset management companies in India and is a part of the Tata group that have revenues of $113 billion (2018-19). Headquartered in India, the Tata Group is an over 150 years ...
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Bloomberg The International Monetary Fund’s (IMF) executive board approved $5 billion of aid to Ukraine, the culmination of months of talks that grew more urgent as coronavirus pandemic struck. The Washington-based lender will disburse the first $2.1 billion loan tranche immediately, according to an emailed statement. Ukraine needs money to help cover its budget deficit, which tripled as the government ...
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Bloomberg The coronavirus pandemic is splintering the world economy, and the extraordinary action needed means policy makers cannot risk a premature withdrawal of lifelines to businesses and the most vulnerable people, the OECD warned. It made the grim assessment in its quarterly outlook, where it forecast a global slump of 6% this year, more than the World Bank earlier this ...
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