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ABU DHABI / WAM Abu Dhabi Global Market (ADGM) has announced that its Financial Services Regulatory Authority (FSRA) Policy and Legal Team, have won two prestigious awards at the annual In-House Community Counsels of the Year Awards 2020. “The team was awarded ‘In-House Community Best Practice Legal Teams of the Year in Financial Services’ and ‘In-House Community Best Practice Legal ...

Dubai / WAM The Dubai Land Department (DLD) announced on Monday that the emirate’s official monthly house price index saw a rise of 1.36 percent as the index value moves from 1.1 to 1.115 amidst the lockdown. The results were announced as part of the second edition launch of ‘Mo’asher’ – Dubai’s official sales price index – produced by DLD, ...

Sharjah / WAM The Sharjah Consultative Council (SCC) represented by the Financial, Economic and Industrial Affairs Committee, announced the conclusion of the campaign, entitled, “We’ll get through this.” The campaign aimed to highlight the stimulus package approved by the Sharjah Government to support governmental and private entities, business sectors and individuals, and reflects the importance of the sustainability incentives for ...

Bloomberg Sweden is stepping up efforts to shield its critical businesses from foreign takeovers at a time of economic weakness due to the Covid-19 pandemic. Interior Minister Mikael Damberg and Foreign Trade Minister Anna Hallberg on Monday unveiled a series of proposals. They include asking the Swedish Defense Research Agency to map out areas where foreign direct investments may have ...

Bloomberg German industrial production took a record-hit in April, before a gradual easing of lockdown restrictions set off an ever-so-slow recovery. Output slumped 17.9% during the month that saw unprecedented closures of factories and shops, with manufacturers of investment goods particularly badly affected. Even though activity has started to pick up since then, Europe’s largest economy is still set to ...

Bloomberg Spain has earmarked 9 billion euros ($10.2 billion) to help fund regional governments’ healthcare response to the Covid-19 pandemic. The central government will transfer 6 billion euros in September and as much 3 billion in November, Prime Minister Pedro Sanchez said in a televised statement. The measure will be approved by the cabinet through a decree on June 16, ...

Bloomberg Mexico asked the World Bank for a $1 billion loan, according to El Economista newspaper, which cited a loan agreement it viewed. Mexico Deputy Finance Minister Gabriel Yorio said the financing was a development policy loan and would not be used for its Covid-19 response program. Yorio did not say in his tweets how large the loan was. The ...

Bloomberg Two drugmakers behind the industry’s most prominent responses to the Covid-19 pandemic are looking into the possibility of a combined future as economies emerge from lockdowns. AstraZeneca Plc, co-developer of one of the fastest-moving experimental coronavirus vaccines, has made a preliminary approach to Gilead Sciences Inc., maker of the only US-approved treatment, according to people familiar with the matter. ...

Bloomberg Finland is turning to former Prime Minister Matti Vanhanen to steer it out of the Covid-19 slump and help rebuild its public finances after a massive bout of stimulus spending. The Center Party unanimously chose the 64-year-old speaker of parliament as the country’s new finance minister after Katri Kulmuni stepped down over an expenses scandal. Vanhanen told a press ...

ABU DHABI / AGENCIES During a video conference, Opec+ alliance agreed to extend production cut to the end of July. The videoconference meeting was held in an atmosphere of cooperation and a collective determination to maintain a balance in the oil market, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, wrote on Twitter. “The UAE is ...