News

Abu Dhabi / WAM The UAE Ministry of Economy (MoE) has taken part in a video conference organised by the delegation of the European Union to the UAE, with the participation of Trade Counsellors from European Union (EU) Member States represented in the country. During the virtual session, Juma Mohammed Al Kait, Assistant Under-Secretary of the UAE Ministry of Economy for ...

DUBAI / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, and Innoway, a Chinese platform established by the Beijing and Haidian Government, have signed a Memorandum of Understanding (MoU) to increase collaboration in the tech sector between the UAE and China, and usher in a new wave of innovation to Dubai. ...

Dubai / WAM The Dubai Electricity and Water Authority (Dewa) organised a virtual webinar in collaboration with leading global professional services firm PricewaterhouseCoopers (PwC) on “Skills for the future – How future education will be after the outbreak of coronavirus”. Senior management and more than 120 employees across Dewa’s divisions attended the webinar. Saeed Mohammed Al Tayer, MD & CEO ...

Abu Dhabi / WAM Adnoc Distribution has marked a major milestone in the opening of its 400th station on Saadiyat island, Abu Dhabi and the delivery of 25 new stations year to date in 2020. In the first half of the year, the company has experienced strong delivery despite the challenging environment, with openings across Abu Dhabi, Dubai and Fujairah. ...

AJMAN / WAM Ajman Tourism Development Department (ATDD) announced the launch of Ajman Half Marathon, which provides the opportunity to participate in 10 km or half marathon 21.1 km, and aims to attract 500 participants from all levels. This initiative comes in line with ATDD efforts to promote community sports, encourage a healthy and active lifestyle, and provide virtual alternatives ...

RAS AL KHAIMAH / WAM A ground station that will track and communicate with a satellite built by American University of Ras Al Khaimah (Aurak) students has opened on the University’s campus. The ground station is capable of communicating with satellites in orbit by sending commands and receiving telemetry, images and science data back from them. The satellite project is ...

Bloomberg German unemployment surged in June as one of country’s leading economic research institutes warned of a slower-than-expected economic recovery from the coronavirus pandemic. Another sharp gain last month has taken the number of job losses in the second quarter to 678,000 and the total to just below 3 million, a threshold not broken since 2011. Yet more redundancies were ...

Bloomberg Hedge funds that bought credit insurance on Wirecard AG debt are among those in line for a windfall of as much as $212 million after the disgraced German payments company filed for insolvency last week. A committee of traders ruled that Wirecard has gone through a so-called bankruptcy credit event, triggering payouts to holders of credit-default swaps. These contracts ...

Bloomberg Factories across the euro area recorded a stronger performance than initially reported in June, with consumer-goods producers growing again. But despite countries easing restrictions and life slowly returning to normal, output continued to contract and demand — especially among exporters — remained weak. In a sign that the pandemic has been inflicting lasting damage on the economy, all of ...

Bloomberg As the Eiffel Tower gradually reopens from an extended shutdown, an essential segment of the summer tourist trade will be missing: Americans touching down in Paris on lucrative trans-Atlantic flights. Voyagers from New York, Houston or Los Angeles will have to hold off on their overseas vacations after European Union governments extended a travel ban from Wednesday, deeming the ...