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Bloomberg The US tumbled further in a ranking of most competitive world economies, dragged down by the weight of President Donald Trump’s trade wars. After losing the top spot to Singapore in 2018, the US dropped further down the list to 10th place from third, according to an annual ranking from the Institute for Management Development (IMD), a business school ...

Bloomberg UK jobless claims more than doubled to almost 3 million during the virus lockdown, adding urgency to the Bank of England and government’s efforts to cushion the blow. The number of people seeking unemployment benefits increased by more than 1.5 million in the two months through May, the Office for National Statistics said on Tuesday. The figures show the ...

Bloomberg Some of Argentina’s largest creditors presented a new debt proposal to the government over the weekend as the two sides edge closer to a $65 billion restructuring deal, according to people familiar with the matter. The Ad Hoc Bondholder Group and Exchange Bondholder Group submitted an offer in which they agreed to accept losses on a net-present value basis ...

Bloomberg Investors see some signs that the recovery in Europe’s largest economy has started to take off. A ZEW gauge of current conditions in Germany advanced in June, and expectations for the next six months continued to improve. The data underscore hopes that the economy will grow again in the second half of 2020. The country’s government has made more ...

Bloomberg Mexican billionaire Ricardo Salinas Pliego called on government health officials to stop imposing “authoritarian” policies to contain the spread of the coronavirus outbreak that the mogul said were damaging the economy. Salinas Pliego, who owns bank and appliance dealer Grupo Elektra and the country’s second largest TV network TV Azteca, said Mexicans needed to be free to decide what ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the New Media Academy to prepare a future workforce capable of leading the rapidly growing field of digital marketing. Also present were HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, ...

Bloomberg Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery. Futures traded near $35 a barrel in New York, sinking in tandem with equity markets, after losing 8.3% last week. Beijing closed the city’s largest fruit and vegetable supply ...

ABU DHABI / WAM The National Creative Relief Fund launched by the Ministry of Culture and Knowledge Development in May 2020 has announced financial grants to 87 creative individuals and Small and Medium Enterprises (SMEs) operating in the cultural and creative industries. The grants ranging between AED15,000 and AED50,000 are distributed among 50 individuals and 37 companies to help them ...

Dubai / WAM Dubai’s Roads and Transport Authority (RTA) announced that the use of Artificial Intelligence (AI) technologies, such as computer vision and machine learning algorithms, proved very effective in detecting and reporting violations of the coronavirus (Covid-19) preventive measures. Such monitoring covers physical distancing and wearing of face masks onboard taxis, whether for passengers or drivers. “AI technologies have ...

DUBAI / WAM Etihad Credit Insurance (ECI) announced the signing of a Memorandum of Understanding (MoU) with Bpifrance Assurance Export, the French Export Credit Agency, to explore, strengthen, and enhance the trade and economic cooperation between France and the UAE. The MoU was signed by Massimo Falcioni, CEO at ECI and Francois Lefebvre, General Manager of Bpifrance Assurance Export. The ...