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Abu Dhabi / WAM The Emirates Global Aluminium (EGA) on Wednesday announced that production at its new Al Taweelah alumina refinery achieved nameplate capacity from bauxite to alumina for June, a major milestone in the ramp-up of the giant plant. The milestone was achieved just 14 months after alumina production began in April last year, a world-class performance. Alumina refineries ...

Abu Dhabi / WAM The UAE on Wednesday sent an aid plane carrying seven metric tons of medical supplies to Uruguay to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 7,000 medical professionals as they work to contain the coronavirus pandemic. Commenting on the aid delivery, Saeed Rashed Obaid Alzaabi, UAE Ambassador to ...

Bloomberg Prime Minister Justin Trudeau is set release his first estimate of the full cost of the multiphase effort to buffer Canada from its deepest recession since the 1930s. Trudeau’s finance minister, Bill Morneau, will provide a fiscal update that’s expected to show a current-year deficit of at least $163 billion, or 12% of economic output. The gap last year ...

Bloomberg France’s new government would seek to preserve the economy should a second wave of the coronavirus pandemic force it to bring back lockdown measures, Prime Minister Jean Castex said on Wednesday. “We won’t survive, economically and socially, an absolute and generalised lockdown,” Castex told BFM TV and RMC radio, adding that he advocated more targeted restrictions. France is still ...

Bloomberg Logistics company DHL International plans to lay off as many as 2,200 UK workers based at Jaguar Land Rover (JLR) factories in the latest blow to automotive jobs in the nation. About two in five of the DHL employees at JLR’s UK factories face dismissal, the union Unite said in a statement. DHL linked about half of the reductions ...

Bloomberg Daimler AG Chief Executive Officer Ola Kallenius will widen cost cuts to shore up returns, even as the German manufacturer signalled demand for cars and trucks started to recover from the most dramatic slump in decades. Mercedes-Benz car deliveries in China climbed to a record in the second quarter, truck orders are picking up, and global retail sales in ...

Bloomberg Digital advertising platforms run by Google, Amazon.com Inc. and other tech companies will funnel at least $25 million to websites spreading misinformation about Covid-19 this year, according to a study released Wednesday. Google’s platforms will provide $19 million, or $3 out of every $4 that the misinformation sites get in ad revenue. OpenX, a smaller digital ad distributor, handles ...

Abu Dhabi / WAM The UAE Government will complete more than two million Covid-19 tests during the next two months to continue to curb the spread of the virus. The announcement was made at the UAE government’s regular media briefing wherein Dr Amna Al Dahak Al Shamsi, official spokesperson of the UAE government, provided an update on Covid-19 and all ...

Abu Dhabi / WAM Abu Dhabi National Energy Company (Taqa), announced on Tuesday the successful financial closing for the largest gas-fired power plant in the UAE. The AED4.2 billion Fujairah F3 Independent Power Producer (IPP) project will have a power generation capacity of 2.4 GW – equivalent to the powering of 380,000 UAE households. The power plant is expected to ...

Abu Dhabi / WAM The central bank of the UAE (CBUAE) published its Financial Stability Report (FSR) which provides information, analysis and an assessment of the resilience and matters that require additional support in the banking and financial system in the UAE promoting public understanding and transparency. The report covers macro-financial conditions, regulatory developments, assessments of the banking and finance ...